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CREDITCOOPSOCIETY80P

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(Querist)
23 September 2008 Dear Sir,
A credit coop Society is engaged in the business of taking deposits and advancing loans to its members.My query is whether te Society is eligible for deduction u/s 80P.
Thanking you,
Yours truly,
N.D.Hegde
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A.Sekar

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A.Sekar (Expert)
23 September 2008 80P(2)(a)(i) allows such exemption if the society is engaged in provision of credit facility to its members.

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