Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Deduction u/s 80P - The RBI cancelled the license w.e.f. ...

Income Tax

November 7, 2013

Deduction u/s 80P - The RBI cancelled the license w.e.f. 30.10.2003. Thus, the assessee is neither a State Cooperative Society nor it is a Bank under the Banking Regulation Act, 1949 - deduction u/s 80P not available to assessee - AT

View Source

 


 

You may also like:

  1. Disallowance of bad debts as claimed u/s 36(1)(viia) - deduction claimed @10% of aggregate average advances - AO is directed to make relevant enquires and verifications...

  2. Amendment of section 58 - RESERVE BANK OF INDIA ACT, 1934 - consequential provisions

  3. Amendment of Preamble - AMENDMENTS TO THE RESERVE BANK OF INDIA ACT, 1934

  4. Cancellation of licence of the CKP Co-operative Bank Limited to carry on the banking business in India - The RBI has rightly exercised its powers and had complied with...

  5. Deduction u/s 80P(2)(i) - the assessee is not a recognized bank as per the provision of RBI and there is a difference between the Co-operative bank and in the Credit...

  6. Eligibility for deduction u/s 80P - assessee to invest 25% of its profits in the reserve funds, which in turn, are parked in FDRs with Bank of Maharashtra - assessee is...

  7. Section 197A of the income-tax Act, 1961 - No TDS if payment is made to a bank listed in the Second Schedule to the Reserve Bank of India Act, 1934 - Notification

  8. Claim u/s 80P(2)(a)(i) disallowed - Banking license from RBI not possessed by assessee - If licence is not obtained it may be an illegal banking business under the...

  9. Discontinuation of Supplying Printed GR forms by Reserve Bank. - Cir. No. 98 Dated: March 30, 2012

  10. Interpretation of statute - whether Non Banking Financial Companies (NBFC) regulated by the Reserve Bank of India, in terms of the provisions of Chapter IIIB of the...

 

Quick Updates:Latest Updates