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80P(2)(d) interest from investment in other chs

09 January 2021

80P(2)(d) interest from investment in other co-operative society

is housing society in come under this section

1. if I suppose to show income, how can I show
2. how much amount eligible for deduction

plz suggest

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2 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 09 January 2021

100% of the profits, included in Gross Total Income are deductible in respect of any income by way of interest or dividends derived by the co-operative society from its investments with any other co-operative society u/s 80P(2)(d)

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Kapadia Pravin (17259 Points)
Replied 09 January 2021

Income from other co-operative society co-operative bank is exempt under 80P(2)(d) provided Return is filed on or before due date.

if return is not filed on or before due date then no benefit under 80P