13 February 2008
Whether Income of co - operative society registered under Tamilnadu government is exempt under Income tax act according to sec 10(23c) subject to limit of 1 Crore. However Sec 10(23c)(iv) donot specifically say about co - operatives but it just say "any other fund or institution established for charitable purpose" does it means it includes Co-operative society? Or there are separate provisions for Co- operative society Plz help.
CAclubindia
