If a house is allotted or leased out by a Co-operative Society to its member but the ownership remains with co-operative society the income from such house property shall form a part of the total income of the individual.
Every co-operative society is entitled to claim deduction u/s 801A and 801B. The benefit of deductions u/s 801A and 801B shall be available for new industrial undertaking or ship or hotel for a period of 12 years.
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