Interest Income earned on Fixed Deposits with Cooperative/Scheduled Bank eligible for Deduction u/s 80P(2)(a)(i) of Income Tax  Act: ITAT [Read Order]

By Aparna. M - On June 17, 2023 4:30 pm - 2 mins read
Interest Income earned on - Fixed Deposits with Cooperative - Scheduled Bank eligible for Deduction - Income Tax Act - ITAT - TAXSCAN

The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently held that interest income earned on fixed deposits with the cooperative /scheduled bank is eligible for deduction under Section 80P (2)(a)(i) of Income Tax Act 1961. The Assessee Jankalyan Nagari Sahakari  Patsanstha Ltd. is a co-operative credit society. The Return of Income for the…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader