Which of the undermentioned incomes of a Co-operative Society is not eligible for deduction under section 80 P of the Income Tax Act, 1961 when the gross total income of the society exceeds ₹20,000 ?

CS Executive · Tax Laws and Practice · PYQS · December 2018
Which of the undermentioned incomes of a Co-operative Society is not eligible for deduction under section 80 P of the Income Tax Act, 1961 when the gross total income of the society exceeds ₹20,000 ?
(A) Agency business
(B) Income from letting of godown
(C) Income from house property
(D) Dividend from other Co-operative Societies

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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