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housing society income tax

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The ITAT Mumbai has ruled that co-operative housing societies can claim deduction under Section 80P(2)(d) on interest earned from deposits with co-operative banks, offering significant tax relief and settling a long-standing dispute.

Big Relief for Housing Societies: ITAT Mumbai Allows Deduction on Interest from Co-operative Banks

The ITAT Mumbai has ruled that co-operative housing societies can claim deduction under Section 80P(2)(d) on interest earned from deposits with co-operative banks, offering significant tax relief and settling a long-standing dispute.
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.

Can a Housing Society Claim Tax Deduction on Interest from Co-operative Banks?

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.