A Co-operative society is treated under income tax law as
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Section 80P of the Income Tax Act 1961 allows deduction in respect of income of cooperative societies which are attributable to specified activities. ... Subsidies received from Government are to be treated as business income.
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Section 80P of the Income Tax Act 1961 allows deduction in respect of income of cooperative societies which are attributable to specified activities. ... Subsidies received from Government are to be treated as business income.
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