# The Finance Act, 1978, Section 18: Amendment of section 80P

- Act: The Finance Act, 1978 (Act 19 of 1978)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1978/section/18/

## Text

Amendment of section 80P. 18. In section 80P of the Income-tax Act, in sub-section (2), for clause (b), the following clause shall be substituted with effect from the 1st day of April, 1979, namely :— " (b) in the case of a co-operative society, being a primary society engaged in supplying milk raised by its members to— (i) a federal milk co-operative society; or (ii) the Government or a local authority ; or (iii) a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956), or a corporation established by or under a Central, State or Provincial Act (being a company or corporation engaged in supplying milk to the public), the whole of the amount of profits and gains of such business ; " . [Finance Act, 1978] © Copyright. Taxmann Publications Pvt. Ltd.

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