Interest from nationalized bank investments is not deductible under Income Tax Act Section 80P(2)(a)(i) for cooperatives.

Interest from nationalized bank investments is not deductible under Income Tax Act Section 80P(2)(a)(i) for cooperatives. https://www.taxtmi.com/highlights?id=41138 Deduction u/s 80P(2)(a)(i) - interest earned from investment made in nationalized bank by a cooperative society engaged in providing credit facilities to its members, is not eligible for deduction under section 80P - However, any expenditure incurred by the assessee for earning such income could be allowed to it, if not already allowed. en-us Fri, 31 Aug 2018 08:49:12 +0530 Fri, 31 Aug 2018 08:49:12 +0530 TaxTMI RSS Generator Interest from nationalized bank investments is not deductible under Income Tax Act Section 80P(2)(a)(i) for cooperatives. https://www.taxtmi.com/highlights?id=41138 Deduction u/s 80P(2)(a)(i) - interest earned from investment made in nationalized bank by a cooperative society engaged in providing credit facilities to its members, is not eligible for deduction under section 80P - However, any expenditure incurred by the assessee for earning such income could be allowed to it, if not already allowed. Highlights Income Tax Fri, 31 Aug 2018 08:49:12 +0530 https://www.taxtmi.com/highlights?id=41138