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of <h1>Central Government can exempt registered societies from income tax and stamp duties to support cooperative activities.</h1> The Central Government has the authority to exempt registered societies or classes of registered societies from paying income tax on their profits or dividends received by members. Additionally, the government can waive stamp duties on instruments executed by or on behalf of a registered society and any registration fees under current laws. For stamp duties related to specific financial instruments and transactions, the Central Government is responsible, while other stamp duties may fall under the State Government's jurisdiction. These exemptions aim to provide financial relief and encourage the functioning of cooperative societies.
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