# The Finance Act, 1979, Section 14: Amendment of section 80P

- Act: The Finance Act, 1979 (Act 21 of 1979)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1979/section/14/

## Text

Amendment of section 80P. 14. In section 80P of the Income-tax Act, in sub-section (2), in clause (c), for the words " so much of its profits and gains attributable to such activities as does not exceed twenty thousand rupees;", the following shall be substituted with effect from the 1st day of April, 1980, namely :— ' so much of its profits and gains attributable to such activities as does not exceed,— (i) where such co-operative society is a consumers' co-operative society, forty thousand rupees ; and (ii) in any other case, twenty thousand rupees. Explanation.—In this clause, " consumers' co-operative society " means a society for the benefit of the consumers ;'. [Finance Act, 1979] © Copyright. Taxmann Publications Pvt. Ltd.

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