Court Explores Tax Deduction Exemption for Co-operative Societies, Urges Shift to Cashless Transactions.

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....Exemption from deduction of Tax u/s 194N and 194A to Co-operative Societies - The 1st respondent shall also consider with regard to the issuance of appropriate circulars for entertaining the cashless transactions by the Co-operative Societies by amending the IT Act. Once if the petitioners/Co-operative Societies have followed the above suggestions, there is no need for them to handle any cash transaction any more. - HC....