TMI BlogDeduction u/s 80P(2)(i)(a) - Additions u/s 68 - For a reason recorded and accepted by all the...Deduction u/s 80P(2)(i)(a) - Additions u/s 68 - For a reason recorded and accepted by all the authorities, the 5% of the expenditure booked against interest paid to depositors is disallowed and once disallowed portion is accepted by all the authorities, the said disallowed portion forms part of the interest earned by the Society on the amount lent by the Society to its members, vis-a-vis in other words, income earned from business carried on by the Society. Therefore, the Society is entitled to ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
