Deduction u/s. 80P available to entities registered under Karnataka Souharda Sahakari Act, 1997

Nagalambika Pattina Souharda Sahakari Niyamita Vs ITO (ITAT Bangalore)

ITAT Bangalore held that deduction under section 80P of the Income Tax Act is duly available to the entities registered under Karnataka Souharda Sahakari Act, 1997.

Facts- Assessee is a Cooperative Society registered under Karnataka Souharda Sahakari Act, 1997. It is involved in the business of providing credit facilities to its members in form of loans for business, housing etc. It also collects funds from its members.

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