WebJan 13, 2024 · The Supreme Court held that loans given by co-op credit societies to nominal members would qualify for the purpose of deduction under section 80P (2) (a) (i) of the Income Tax Act. The co-operative societies who have been registered as ‘primary agricultural credit societies’, together with one ‘multi-State co-operative society’, and ... WebNov 5, 2024 · The Income Tax Appellate Tribunal (ITAT), Jaipur Bench held that the interest received by the assessee from the Cooperative Bank is eligible for deduction under section 80P(2)(d) of the Income Tax Act as the Jaipur Central Cooperative Bank is a Cooperative Society registered under Cooperative Societies Act.. The Assessee, Shahpura Gram …
Tax Deduction Under Section 80P Of The Income Tax Act
WebMar 25, 2024 · By Fidha Lulu K G - On March 25, 2024 3:15 pm - 2 mins read. The Rajkot bench of Income Tax Appellate Tribunal (ITAT) held that the Income Tax deduction under section 80P cannot be denied for non-filing of ITR within the due date. The assessee is a co-operative society duly registered under the Gujarat Co-operative Societies Act. WebIn accordance with the provisions of tax deduction under section 80D, a deduction of Rs 25,000 is allowed, as already mentioned before. Out of this overall amount, Rs 5,000 can … susan mitchell dallas cowboy cheerleader
Deduction u/s. 80P can’t be denied merely for non filing of ITR
WebFeb 10, 2024 · However, section 143(1)(a)(v) of the Act provides that disallowance of deduction claimed under any of the provisions of Chapter VI-A under the heading “C.— … WebApr 11, 2024 · Tax Deduction under Section 80P Section 80P caters to cooperative societies, offering tax deductions on their income, subject to certain conditions. 100% deduction is permitted to cooperative societies … WebMar 1, 2024 · The Assessing Officer took the case for “limited scrutiny” in view of the CASS guidelines and found that the assessee is not entitled to claim the deduction u/s 80P of … susan moberly state farm