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Section 80P

Latest Articles


Taxation Framework for Cooperative Societies in India

Corporate Law : Learn about the characteristics, types, and tax implications of cooperative societies in India, including deductions under Section...

February 27, 2024 1467 Views 0 comment Print

Income Tax Circular 13/2023: Condonation for 80P Deduction Returns

Income Tax : Explore Circular 13/2023 on Income Tax condoning delays for returns claiming 80P deduction from AY 2018-19 to AY 2022-23. Understa...

January 15, 2024 6882 Views 0 comment Print

Overview of Section 194N & Recent Landmark Judgments of Madras HC

Income Tax : TDS on Cash Withdrawals - Section 194N of Income Tax Act, 1961: Section 194N provides that every banking company, cooperative bank...

December 25, 2023 6243 Views 0 comment Print

Interest on securities or house property income of co-op society – Section 80P(2)(f) deduction

Income Tax : Understand the tax implications of interest on securities and income from house property for co-operative societies. Learn about S...

November 7, 2022 4167 Views 0 comment Print

Taxation of Co-Operative Society

Income Tax : Section 80P: Deduction in respect of Income of Co-operative Societies In case of all co-operative societies, except co-operative b...

October 23, 2021 115968 Views 2 comments Print


Latest News


Clarify on exemption of interest on deposits by co-operative societies with multi-State cooperative banks

Income Tax : The anomalous position may be rectified by making suitable amendment in section 2(19) defining a Co-operative Society, by includin...

December 28, 2017 5919 Views 1 comment Print


Latest Judiciary


Deduction u/s 80P was allowable as amendment of Section 80AC was not retrospective in nature

Income Tax : Assessee then filed returns in response to the notice under Section 148, claiming a deduction under Section 80P. AO disallowed the...

March 10, 2025 111 Views 0 comment Print

ITAT Pune Allows Section 80P(2)(d) Deduction on Interest from Co-op Banks

Income Tax : ITAT Pune rules in favor of Saikrupa Nagari Sahakari Patsanstha, allowing deduction under Section 80P(2)(d) for interest income ea...

March 9, 2025 627 Views 0 comment Print

ITAT Cochin Remands Case Over Dismissal Without considering Delay Explanation

Income Tax : ITAT Cochin remands case for fresh hearing after CIT(A) dismissed appeal without considering the explanation for a 30-day delay in...

March 9, 2025 57 Views 0 comment Print

Interest & Other Income Attributable to Business eligible for Section 80P(2)(a)(i) Deduction

Income Tax : Karnataka HC remands Lalitamba Pattina Souharda Sahakari Niyamita’s case to AO, questioning denial of Section 80P deduction on i...

March 6, 2025 366 Views 0 comment Print

Order passed u/s. 148A(d) beyond 3 years with approval of PCIT instead of PCCIT quashed

Income Tax : ITAT Pune held that approval of Principal Chief Commissioner of Income Tax [PCCIT] required for order passed under section 148A(d)...

February 28, 2025 486 Views 0 comment Print


Latest Notifications


Condonation of Delay for AY 2023-24 – Section 80P Deduction Claims

Income Tax : CBDT issues Circular No. 14/2024 allowing condonation of delay in filing tax returns for AY 2023-24 under Section 80P, benefiting ...

October 30, 2024 1890 Views 1 comment Print

Income Tax Circular: Condonation of Delay for Deduction u/s 80P

Income Tax : Circular No. 13/2023-Income Tax: The government allows condonation of delay for filing returns of income claiming deduction u/s 80...

July 26, 2023 7221 Views 0 comment Print

Clarification regarding eligibility of deduction under Section 80P to Regional Rural Banks

Income Tax : Circular No. 6/2010-Income Tax 2.As Regional Rural banks (RRB) are basically corporate entities (and not cooperative societies, t...

September 20, 2010 4061 Views 0 comment Print


Latest Posts in Section 80P

Deduction u/s 80P was allowable as amendment of Section 80AC was not retrospective in nature

March 10, 2025 111 Views 0 comment Print

Assessee then filed returns in response to the notice under Section 148, claiming a deduction under Section 80P. AO disallowed the deduction, stating that the returns were not filed within the due date under Section 139(1).

ITAT Pune Allows Section 80P(2)(d) Deduction on Interest from Co-op Banks

March 9, 2025 627 Views 0 comment Print

ITAT Pune rules in favor of Saikrupa Nagari Sahakari Patsanstha, allowing deduction under Section 80P(2)(d) for interest income earned from cooperative banks.

ITAT Cochin Remands Case Over Dismissal Without considering Delay Explanation

March 9, 2025 57 Views 0 comment Print

ITAT Cochin remands case for fresh hearing after CIT(A) dismissed appeal without considering the explanation for a 30-day delay in filing.

Interest & Other Income Attributable to Business eligible for Section 80P(2)(a)(i) Deduction

March 6, 2025 366 Views 0 comment Print

Karnataka HC remands Lalitamba Pattina Souharda Sahakari Niyamita’s case to AO, questioning denial of Section 80P deduction on interest income. Read details.

Order passed u/s. 148A(d) beyond 3 years with approval of PCIT instead of PCCIT quashed

February 28, 2025 486 Views 0 comment Print

ITAT Pune held that approval of Principal Chief Commissioner of Income Tax [PCCIT] required for order passed under section 148A(d) of the Income Tax Act beyond three years from the end of assessment year.

Co-Op Banks Qualify as Co-Op Societies for Section 80P(2)(d) Deduction: ITAT Panaji

February 28, 2025 339 Views 0 comment Print

Cooperative banks fall within definition of cooperative society under Section 2(19). ITAT concluded that assessee was entitled to deduction under Section 80P(2)(d).

ITAT Mumbai Allows Section 80P(2)(d) Deduction on Co-Op Bank Interest

February 27, 2025 747 Views 0 comment Print

ITAT Mumbai rules in favor of Pathare Prabhu CHS Ltd., allowing deduction under Section 80P(2)(d) for interest income from co-operative banks. Read details of the judgment.

Interest from co-operative banks remains eligible for Section 80P(2)(d) deduction

February 27, 2025 417 Views 0 comment Print

ITAT Mumbai ruled in favor of Borivali Jankalyan Sahakari Patpedhi Ltd., allowing deduction under Section 80P for interest income from co-operative banks.

No Section 80P(2)(d) deduction on interest income from nationalized bank

February 27, 2025 39 Views 0 comment Print

ITAT Mumbai upheld the disallowance of deductions claimed by Navbharat Urban Co-operative Credit Society under Section 80P(2)(d), treating income as taxable.

ITAT Bangalore remands case on interest income deduction u/s 80P(2)(a)(i) to AO

February 26, 2025 393 Views 0 comment Print

ITAT Bangalore remands case on interest income deduction u/s 80P(2)(a)(i) to AO, citing legal precedents. Tribunal finds errors in assessment and CIT(A) order.

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