Corporate Law : Learn about the characteristics, types, and tax implications of cooperative societies in India, including deductions under Section...
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...
Income Tax : TDS on Cash Withdrawals - Section 194N of Income Tax Act, 1961: Section 194N provides that every banking company, cooperative bank...
Income Tax : Understand the tax implications of interest on securities and income from house property for co-operative societies. Learn about S...
Income Tax : Section 80P: Deduction in respect of Income of Co-operative Societies In case of all co-operative societies, except co-operative b...
Income Tax : The anomalous position may be rectified by making suitable amendment in section 2(19) defining a Co-operative Society, by includin...
Income Tax : Tribunal held that deduction for bad debts is allowable in the year in which the debts are actually written off in the books of ac...
Income Tax : The Tribunal held that interest income earned from mandatory reserve fund deposits and co-operative bank accounts qualifies for de...
Income Tax : The petitioner stated that reassessment notices were not acted upon because the auditor failed to inform it about the proceedings....
Income Tax : ITAT Bangalore held that the presence of associate or nominal members does not disqualify a co-operative society from claiming ded...
Income Tax : ITAT Rajkot held that revision under section 263 was not sustainable where the Assessing Officer had already conducted extensive v...
Income Tax : CBDT issues Circular No. 14/2024 allowing condonation of delay in filing tax returns for AY 2023-24 under Section 80P, benefiting ...
Income Tax : Circular No. 13/2023-Income Tax: The government allows condonation of delay for filing returns of income claiming deduction u/s 80...
Income Tax : Circular No. 6/2010-Income Tax 2.As Regional Rural banks (RRB) are basically corporate entities (and not cooperative societies, t...
ITAT Bangalore rules deduction under Section 80P of Income Tax Act requires filing of return of income, dismissing Madhu Souharda Pathina’s appeal.
Learn about the characteristics, types, and tax implications of cooperative societies in India, including deductions under Section 80P and applicable tax rates. Navigate the complexities for economic and social development.
ITAT Ahmedabad rules deduction u/s 80P of the Income Tax Act not applicable to interest earned on FDRs from Bank of Baroda in a landmark case.
ITAT Bangalore rules against deduction under section 80P for interest income from Co-operative Banks, impacting Bantwal Public Employees Consumers Society.
ITAT Bangalore remands S. K. Goldsmiths Co-operative Society Ltd.’s case for re-examination of deduction claim under section 80P(2)(d) related to interest from banks.
ITAT Bangalore rules on the scope of rectification under Section 154, emphasizing that only clear and obvious mistakes can be corrected, aiding the assessee.
Explore the ITAT Bangalore verdict on how the statutory deadline for filing returns affects eligibility for deductions under Section 80P, highlighting the case of Madhu Souharda Pathina Sahakari Niyamitha vs ITO.
Pune ITAT rules in favor of a Co-operative Society, affirming that interest income from Co-operative/Scheduled Banks qualifies for deduction under section 80P(2).
ITAT Bangalore rules in favor of Minority Co-op. Credit Society Ltd. on interest income deduction under section 80P(2)(d) from unlicensed co-op bank investments for AY 2017-18.
Explore ITAT Mumbai’s interpretation on Section 80P(2)(d) deductions for Co-Op Societies on interest income from co-op banks, setting a precedent for future tax assessments.
