The profits of a Co-operative Society engaged in (Carrying out the business of banking, (if) A cottage industry and (in) Collective disposal of labour of its members are exempt from tax as per section 80P up to:
A. 75% of the profits
B. 100% of the profits
C. 50% of the profits
D. 40% of the profits
Answer:B
The profits of a Co-operative Society engaged in (Carrying out the business of banking, (if) A cottage industry and (in) Collective disposal of labour of its members are exempt from tax as per section 80P up to:
A. 75% of the profits B. 100% of the profits C. 50% of the profits D. 40% of the profits