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 October 2018 Year 2018 This

Deduction u/s 80P(2)(d) on interest received on investments - ...


Cooperative societies cannot claim deductions u/s 80P(2)(d) for interest income from cooperative bank investments.

October 17, 2018

Case Laws     Income Tax     AT

Deduction u/s 80P(2)(d) on interest received on investments - when the interest income is received from a cooperative bank, the recipient co-operative society would not be entitled to deduction u/s 80P(2)(d)

View Source

 


 

You may also like:

  1. Deduction u/s 80P(2)(d) - Interest income earned by the Society comes with the category of income from other sources and Section 80P(2)(d) deals with the eligible...

  2. Deduction u/s 80P(2)(d) was denied through intimation u/s 143(1) on interest income earned by the assessee from cooperative banks. The Tribunal held that neither the...

  3. The assessee claimed deduction u/s 80P(2)(d) of the Income Tax Act for interest income earned on deposits with a Cooperative Bank. The Assessing Officer and CIT(A)...

  4. Denial of deduction claimed u/s 80P (2)(d) - AO disallowed the benefit by invoking the provision of section 154 for rectification of mistake change of opinion - interest...

  5. Interest income earned by a cooperative society from deposits made with another cooperative bank is eligible for deduction u/s 80P(2)(d) of the Income Tax Act. The...

  6. Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The...

  7. Deduction u/s 80P(2)(a)(i) was denied by the Assessing Officer on grounds that the assessee society cannot be termed a mutual concern and principles of mutuality cannot...

  8. Deduction u/s 80P - deduction of income earned as interest/dividend from co-operative bank is allowable. Section 80P(2)(d) reflects that if income by way of interest or...

  9. Deduction u/s 80(P)(2)(d) - Interest income earned on investment in Fixed Deposit with a cooperative bank. - The Hon’ble Apex Court categorically stated that the...

  10. The ITAT Chandigarh dealt with a case involving revision u/s 263 on interest income from fixed deposits. The tribunal held that AO correctly allowed deduction u/s 80P,...

  11. Deduction claimed u/sec. 80P(2)(a)(i) - interest income from the investments made in co-operative/scheduled bank(s) - The Tribunal observed that despite the insertion of...

  12. Eligibility of Deduction u/s 80P - bank interest earned from cooperative banks - The Appellate Tribunal found that even if the interest income is not considered as...

  13. Co-operative bank registered under state Act, main objective providing credit facility to members who are employees, funds contributed by members given as loans on...

  14. Revision u/s 263 - Deduction u/s 80P(2)(a)(i) - interest income was received by the assessee on deposits - section 80P(2)(d) of the Act specifically exempts interest...

  15. Deduction claimed u/s. 80P(2)(a)(i) - Status showing as AOP and not mentioned as cooperative society - The Tribunal referred to the definition of "person" under section...

 

Quick Updates:Latest Updates