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Issue ID: 2081
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co-operative

Date 27 Jul 2010
Replies 1 Reply
Views 1116 Views
Asked by
Tax audit applicability: Section 44AB applies to co-operative societies without exception, requiring audit compliance under cooperative law
The operative legal point is that Section 44AB contains no exemption for co-operative societies, so the statutory tax audit requirement extends to such societies unless another provision expressly provides an exception. (AI Summary)
whether tax audit is applicable to co-operative socities registered under Karnataka Souharda Sahakari Act,1997 ?
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Replied on Aug 1, 2010
1. Yes, Section 44AB does not provide any exception to co-operative societies.
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