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cooperative law amendments

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In a key ruling, ITAT Mumbai allowed Valencia Co-Operative Housing Society in Powai to claim tax deduction on interest earned from co-operative bank deposits, clarifying when housing societies can legally avoid tax on such income.

Big Changes Ahead for Housing Societies? Maharashtra Sets Up High-Level Panel to Rewrite Cooperative Law

Maharashtra has set up a high-level expert committee to overhaul the Cooperative Societies Act and related rules—a move that could significantly impact housing society governance, elections and member rights across the state.