Omitted

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nbsp; "Income of co-operative societies 81. Income-tax shall not be payable by a co-operative society- (i) in respect of the profits and gains of business carried on by it, if it is- (a) a society engaged in carrying on the business of banking or providing credit facilities to its members; or (b) a society engaged in a cottage industry; or (c) a society engaged in the marketing of the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....carried on by it as does not exceed fifteen thousand rupees, if it is a co-operative society other than a co-operative society referred to in clause (i); (iii) in respect of any interest and dividends derived from its investments with any other co-operative society; (iv) in respect of any income derived from the letting of godowns or warehouses for storage, processing or facilitating the marke....