Omitted

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....1-04-1968 before it was read as,  "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 c....

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.... as exceeds fifteen thousand rupees; (ii) in respect of so much of the profits and gains of business 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) ....