Co - Operative societies
This query is : Resolved
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.
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.
13 February 2008
Income from co-operative societies are eligible for deductions u/s 80P
07 March 2008
There is no bar on the constitution of the institution for 10(23C). It has to be approved by prescribed authority.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS DEMAND.
- Claiming TDS credit of unclaimed TDS of past years
- 139(4) for ITR-5- audit
- RCM PAID ON RENT IN RESTAURANT BUSINESS @ GST RATE 5%
- Registartion of trust
- TDS can We Adjust 194C Amount to 194J
- Importer's TIN number in commercial invoice
- Aadhar pan link date
- Mentioned xyz as employer name instead of xyz LLC in ITR
- Late fee paid for IT filing
- Trade license for Charitable Trust
- ITC received by bank in portal
- E-WAY BILL & invoicee
- Round off Figures Appearing In Financial Statement and New Financial statement format for all Taxpay
- REGARDING NATURE OF EXPENDITURE.
- OMR sheet / MCQ booklet no / error
- Due Rs12 lakhs written as bad debts in my books of accounts
- Availment of GST Input
- HELP-1st Group final exam for old student
- Ammended B2B invoice not displayed in GST2B
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
