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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 1512 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 7128 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 6372 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 4275 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 116460 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 5937 Views 1 comment Print


Latest Judiciary


ITAT allows 80P Deduction on Interest from Co-op Banks, SBI & Treasury Investments

Income Tax : ITAT Cochin confirms 80P deduction for Kerala University Employees Co-op Society on interest income from co-op banks, SBI, and tre...

May 5, 2025 129 Views 0 comment Print

Legal Error Ignoring Binding SC Judgment Cannot Be Corrected Through Appellate Remedies

Income Tax : Kerala High Court quashes IT assessment for Poonjar Service Co-operative Bank and directs reassessment following Supreme Court’s...

April 16, 2025 564 Views 0 comment Print

Section 263 Revision not permissible if Section 80P deduction allowable: ITAT Pune

Income Tax : Janata Grahak Madhyawarti Vs PCIT-4 (ITAT Pune) Facts of the Case: The assessee, a co-operative society involved in the business ...

April 14, 2025 171 Views 0 comment Print

Co-Op Society Without RBI Banking License cannot be termed as Co-op Bank

Income Tax : ITAT allows co-operative society's appeal for 80P(2)(a)(i) exemption, stating registration under Co-operative Societies Act prevai...

April 14, 2025 567 Views 0 comment Print

Interest Income from Co-op Banks Qualifies for Section 80P(2)(d) Deduction: ITAT Pune

Income Tax : ITAT Pune permits deduction of Rs. 35 lakhs under Section 80P(2)(d) for interest income from cooperative banks in Jankalyan case....

April 11, 2025 213 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 2313 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 7530 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 4109 Views 0 comment Print


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

February 27, 2025 504 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 87 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 423 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.

Interest from Banks Classified as Income from Other Sources, Relief Granted u/s 57: ITAT Bangalore

February 20, 2025 1407 Views 0 comment Print

In the matter abovementioned ITAT Banglore held that interest earned by the assessee from the co-operative banks/commercial bank is considered under the head income from other sources, relief to be granted to the assessee u/s 57 in accordance with law.

Interest from co-op banks ITAT Mumbai Allows Section 80P(2)(d) Deduction to Housing Society

February 20, 2025 783 Views 0 comment Print

ITAT Mumbai rules in favor of Sterling Court CHS, allowing Section 80P(2)(d) deduction on interest from cooperative banks. Read the full case summary.

ITAT Mumbai Allows Section 80P(2)(d) deduction on interest from co-op banks

February 20, 2025 699 Views 0 comment Print

ITAT Mumbai ruled in favor of Dheeraj Gaurav Heights-1 Co-op Housing Society, allowing a deduction under Section 80P(2)(d) on interest income from cooperative banks.

ITAT Mumbai allows Section 80P(2)(d) deduction on Interest/Dividend from Co-op Bank

February 20, 2025 477 Views 0 comment Print

ITAT Mumbai ruled in favor of Blue Rose Industrial Premises Co-op. Society Ltd., allowing deduction on interest income from co-operative banks under Section 80P(2)(d).

ITAT Mumbai allows Section 80P(2)(d) deduction on co-op bank interest to Co-op Society

February 20, 2025 309 Views 0 comment Print

ITAT Mumbai rules in favor of Hilla Heights Co-op, allowing deduction under Section 80P(2)(d) for interest income from co-op banks. Case law analysis included.

ITAT Luncknow directed CIT(A) to re-consider condonation as delay of 4 days erroneously calculated as 551 days

February 19, 2025 138 Views 0 comment Print

ITAT Lucknow held that delay of 4 days erroneously calculated as delay of 551 days by CIT(A). Accordingly, directed CIT(A) to consider request of condonation and if found appropriate to grant opportunity of being heard.

ITAT Mumbai Allows 80P(2)(d) Deduction on Co-op Bank Interest to Co-op societies

February 15, 2025 516 Views 0 comment Print

ITAT Mumbai rules that cooperative societies can claim deductions under Section 80P(2)(d) for interest earned from cooperative banks, overturning prior disallowance.

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