Deduction u/s. 80P - Interest income earned from bank deposits ...

Interest Income from Bank Deposits Eligible for Business Gains Deduction u/s 80P(2)(a)(i) of Income Tax Act.

September 2, 2019

Case Laws Income Tax AT

Deduction u/s. 80P - Interest income earned from bank deposits is assessable as profits and gains of business in the hands of assessee and accordingly deduction u/s. 80P(2)(a)(i) of the Act is allowable thereon.

View Source

← Previous Next →

Deduction u/s. 80P - Interest income earned from bank deposits ...

Interest Income from Bank Deposits Eligible for Business Gains Deduction u/s 80P(2)(a)(i) of Income Tax Act.

September 2, 2019

Case Laws Income Tax AT

You may also like:

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...

Deduction u/s 80P(2)(a)(i) - assessee has shown interest income which was received from the non-members - There remains no ambiguity that income received by the assessee...

Deduction u/s 80P(2)(a) is allowed for a cooperative society earning interest and dividend income from deposits with a Delhi State Cooperative Bank registered under the...

Allowability of deduction u/s 80P(2)(d) for interest income from deposits/investments in a cooperative bank by a cooperative society. The assessee, a cooperative society...

Interest income earned by a co-operative society formed and managed by the Government, in its regular course of operations, forms part of revenue attributable to...

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...

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...

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...

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)...

Deduction u/s 80P(2) on interest income - To invest the deposits accepted from the members or the surplus funds available with it, is part of the banking/credit business...

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,...

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...

Disallowance of deduction(s) u/s 80P - interest income from the investments made in co-operative/other bank(s) - The tribunal analyzed Sec. 80P(2)(d) and determined that...

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...

Deduction u/s 80P(2)(a)(i) - The decision underscores the principle that interest income earned by co-operative societies, if invested in compliance with statutory...

Quick Updates: