Section 80P deduction eligible on Interest from staff welfare fund & staff loan

Ghatal Co-operative Agriculture And Rural Development Bank Ltd. Vs ACIT (ITAT Kolkata)

Interest from staff welfare fund, interest income from staff loan, charges for closing flexi account and fine against non-payment of R/D amount due in time are eligible for deduction u/s 80P(2)(a)(i).

Assessee has claimed deduction of interest from staff welfare fund and interest income from staff loan totaling of Rs. 98971/- and also had earned miscellaneous income for Rs. 85047/- which

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