Taxation of Co-operative society

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rajesh (Querist)
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26 May 2011 When it is compulsory to file income tax return of co-opertaive society, if so what is the due date? What is fine / penalty for non filing of Income tax return by co-operative society?

CS Bijoy

CS Bijoy (Expert)
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26 May 2011
Filing of return & due date & PAN/ TAN

Since there is no threshold limit for taxability of income in case of a co-operative society, it implies that if a society has any taxable income, it has to file a return of income

Since accounts of all co-operative societies are subject to statutory audit provisions under respective governing laws, therefore due date for filing return of income under the Income-tax Act, 1961 is September 30.