Interest received by Cooperative Societies from Cooperative Banks Eligible for Deduction under Section 80P of Income Tax: ITAT [Read Order]

By Fathima Karama A.M - On October 19, 2023 5:30 pm - 2 mins read

Interest received by Cooperative Societies - Cooperative Banks Eligible for Deduction Income Tax - ITAT - TAXSCAN

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest received by the cooperative societies from cooperative banks is eligible for deduction under Section 80P of the Income Tax Act 1961. Navrang Basant Co-operative Housing Society Limited was a cooperative housing society. It filed its return of income for A.Y. 2017-18…

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