Laws / Income Tax Law / 47
47 - Exemption of income of co-operative societies.
47. Exemption of income of co-operative societies.-
(1) The Tax shall not be payable by a co-operative society in respect of-
1[(a) [deleted]
(b) the entire income from business carried on by it, if it is engaged in the following:-
(i) agricultural or rural credit;
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