Hi, guys we all know that Coop. (credit) Societies have 80 p deduction. But from what should we deduct 80P? Directly from interest income or from profits of business? What my question is should we do any adjustments for expenditure?
1 Replies
Jithendra Patel
(26 Points)
Replied 12 March 2018
Interest earned by a coop. society through cooperative banks, coop credit society are eligible for deduction u/s. 80P. However any interest earned through nationalised bank as well as other income are not eligible for deduction u/s.80P
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