Society's Income Deduction u/s 80IAB Prevents Double Taxation for Members' Income. No Additional Member Tax Liability.

Society's Income Deduction u/s 80IAB Prevents Double Taxation for Members' Income. No Additional Member Tax Liability. https://www.taxtmi.com/highlights?id=53306 Share income received from the Society - Society has claimed deduction u/s 80IAB, hence not suffered any tax - Since the income of the society was taxed separately as rightly observed by the Ld.CIT(A), individual members of the society are not liable to be tax the same income. Taxing the income again in the hands of the assessee would amount double taxation of the same income which is not permissible. en-us Wed, 06 May 2020 06:39:40 +0530 Wed, 06 May 2020 06:39:40 +0530 TaxTMI RSS Generator Society's Income Deduction u/s 80IAB Prevents Double Taxation for Members' Income. No Additional Member Tax Liability. https://www.taxtmi.com/highlights?id=53306 Share income received from the Society - Society has claimed deduction u/s 80IAB, hence not suffered any tax - Since the income of the society was taxed separately as rightly observed by the Ld.CIT(A), individual members of the society are not liable to be tax the same income. Taxing the income again in the hands of the assessee would amount double taxation of the same income which is not permissible. Highlights Income Tax Wed, 06 May 2020 06:39:40 +0530 https://www.taxtmi.com/highlights?id=53306