Co-operative bank's interest from SLR and Non-SLR investments is tax-exempt u/s 80P(2)(a)(i) of Income Tax Act.

Exemption u/s 80P - co-operative bank - interest income earned on investment out of SLR/Non SLR surplus funds - the interest earned on such deposits is directly attributable to the business of banking and, therefore, exempt under section 80P(2)(a)(i) the Act - AT .....

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