Supreme Court: Promotion Remains Valid Even if an Employee's Grade Pay Stays Unchanged  ||  SC Orders Bihar Government to Remove Ganga Riverbank Encroachments in Patna Within Six Weeks  ||  Bombay HC: Child of Single Mother Can’t be Denied RTE Quota over Deceased Father's Caste Certificate  ||  J&K&L HC: Complaint Dismissed Before Cognisance is Not an Acquittal & is Challengeable U/S 528 BNSS  ||  Delhi HC Acquits Man in 2006 Rape Case, Says Names Like Ram or Mohammad do Not Define Virtue  ||  Gujarat HC: Whatsapp Forward of Fake Newspaper Clipping Not Forgery Absent Proof of Fabrication  ||  Supreme Court tells Parsvnath Developers to Comply with Haryana RERA Orders or Face Jail  ||  Supreme Court: Article 142 Cannot Override a Concluded and Acted-Upon Settlement Between Parties  ||  SC Grants One-Time Relief, Allows Law Students to Take Exams Despite Attendance Shortage  ||  SC Grants One-Time Relief, Allows Law Students to Take Exams Despite Attendance Shortage    

SC: Non Banking Cooperative Society Providing Credit to Members Eligible for Section 80P Deduction - (15 Sep 2023)

DIRECT TAXATION

Supreme Court has held that a co-operative society that is not a co-operative bank under Section 56 of Banking Regulation Act, 1949, then such society giving credit facilities to members doesn’t transact the business of banking and is eligible for deduction under Section 80P of the Income Tax Act.

Tags : SUPREME COURT   COOPERATIVE SOCIETY   BANKING   DEDUCTION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved