Interest Income from Deposits with Nationalized Bank is allowable for Deduction u/s. 80P(2)(a)(i) of I-T Act : ITAT [Read Order]

By Aparna. M - On June 5, 2023 1:00 pm - 2 mins read
Interest Income from Deposits with Nationalized Bank is allowable for Deduction I-T Act - ITAT

The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently held that interest income earned from deposits kept with nationalized banks is allowable  as deduction under Section 80p(2)(a)(i) of Income Tax Act 1961. The Section 80p(2)(a)(i) of Income Tax Act deals with deduction  provided to cooperative societies upon certain specified income engaged in specific…

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