Income-tax Circular

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..... hether Regional Rural Banks (to which the provisions of the Regional Rural Banks Act, 1976, apply) can be treated as Co-operative Societies for the purpose of section 80P of the Income-tax Act, 1961. .....

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..... lso be applicable in respect of Regional Rural Banks. In this view deductions admissible under section 80P(2)(a)(i) have to be allowed, in making income-tax assessments of these banks. 4. This may be .....

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