GOPAL KUMAR AGRAWAL (PARTNER) (205 Points)
09 May 2009If the Cooperative Housing Society has received the income from other than members it will be taxable or not please advice to me
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 13 July 2009
Mr. Gopal Kumar Agrawal
The income of a co-operative society is taxable as per the provisions of income-tax act. Co-operative society can claim certain deductins u/s 80P of the income-tax act.
Best Wishes
Sathikonda
CAclubindia
