Income-tax Circular

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ether Regional Rural Banks (to which the provisions of the Regional Rural Banks Act, 1976, apply) can be treated as Co-operative Societies for the purpose of section 80P of the Income-tax Act, 1961. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....so be applicable in respect of Regional Rural Banks. In this view deductions admissible under section 80P(2)(a)(i) have to be allowed, in making income-tax assessments of these banks. 4. This may be ....