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deduction u/s80p

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(Querist)
22 September 2008
there is a credit co-op society, its main object is to accept deposits and giving loans to its members. whether or not it can claim deduction u/s 80p.
please quote some reference if possible.
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Taxguy

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Taxguy (Expert)
22 September 2008 It can claim 80P. Section itself is very clear.
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CA Vivek Jain

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CA Vivek Jain (Expert)
22 September 2008 yes
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
23 September 2008 Yes.
u/s sec.80-P 2(a)(iii)

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