Should a co-operative society opt for the 22% rate and give up 80P / section 149 for good? See this year's tax both ways and the break-even deduction.
v1.1 — first publication 2026-11-04.
Should a co-operative society opt for the 22% rate and give up 80P / section 149 for good? See this year's tax both ways and the break-even deduction.
v1.1 — first publication 2026-11-04.
AI tools for chartered accountants
by CA Karan Gupta
Should a co-operative society opt for the 22% rate and give up 80P / section 149 for good? See this year's tax both ways and the break-even deduction.
Last statutory update: 4 Nov 2026 — v1.1 — first publication 2026-11-04.
Income-tax Act, 1961: s.115BAD (22% option, Form 10-IF, irrevocable), s.115JC(2)(i) (80P outside the AMT add-back), s.115JD (credit), s.139(1) as extended by CBDT Circular 07/2026 (21 Nov 2026). Income-tax Act, 2025: s.203(1)(a)(i), 203(5), 203(6) (no Chapter VIII deduction other than s.146; never withdrawn), s.149, s.263(1).
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