co-operative

[Guest]

whether tax audit is applicable to co-operative socities registered under Karnataka Souharda Sahakari Act,1997 ?

AI Summary

Cooperative Societies Under Karnataka Souharda Sahakari Act Not Exempt from Tax Audits per Section 44AB of Income Tax Act A query was raised regarding the applicability of tax audits to cooperative societies registered under the Karnataka Souharda Sahakari Act, 1997. The response clarified that Section 44AB of the Income Tax Act does not exempt cooperative societies from tax audits, indicating that they are indeed subject to such audits.