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 July 2018 Year 2018 This

Entitled for benefit of mutuality - Co-operative society - There ...

Income Tax

July 13, 2018

Entitled for benefit of mutuality - Co-operative society - There is no deference between the transaction of members and nominal members and only when the transactions are with non-members, the principles of mutuality can be invoked or denied - A nominal member cannot be treated as a non-member.

View Source

 


 

You may also like:

  1. Mutual benefit society - the transactions with the bank who is not even a member of the society cannot be considered as a transaction for which principles of mutuality will apply.

  2. Concept of Mutuality - Transaction between members - Interest from FDRs in bank, dividend income is not taxable based on concept of Mutuality

  3. Deduction U/s 80P - principles of mutuality - identity between contributor and participant - AO directed to verifying as to the rights, roles , entitlements , duties and...

  4. Principle or the doctrine of mutuality - Tribunal for the earlier years, has held that even if there are non-permanent members, non-life members, temporary or honorary...

  5. Denial of deduction u/s 80P(2) - assessee is in the Banking business accepts the deposits from the general public being D Class nominal members and also lend the funds -...

  6. Concept of mutuality - Payment of interest / compensation to the members - The very fact that bylaws of the assessee-society contained the provisions that payment of...

  7. Principle of mutuality - contribution paid or made by the members to the co-operative society was occasioned by transfer of the flat - amount not chargeable to tax - HC

  8. Assessee’s society is covered by the doctrine of mutuality and this amount was not taxable - income received from the members is exempt and the income received from...

  9. Levy of GST - maintenance charges collected by Emerald Court Co-op Housing Society Ltd (CHS) from members of its society - In view of the amended Section 7 of the CGST...

  10. Deduction u/s 80P(2)(a)(i) - assessee is a co-operative credit society having “A” class Members as well as “B” class Members as its society’s Members - mutuality -...

 

Quick Updates:Latest Updates