Income Tax Act, 2025
Section 9: Sub-section (2) omitted by Act 20 of 1974, s. 9 (w.e.f. 11975).
9. Sub-section (2) omitted by Act 20 of 1974, s. 9 (w.e.f. 11975).
415
(i) carrying on the business of banking or providing credit facilities to its members, or
(ii) a cottage industry, or
1[(iii) the marketing of agricultural produce grown by its members, or]
(iv) the purchase of agricultural implements, seeds, livestock or other articles intended for
agriculture for the purpose of supplying them to its members, or
(v) the processing, without the aid of power, of the agricultural produce of its members, or
2[(vi) the collective disposal of the labour of its members, or
(vii) fishing or allied activities, that is to say, the catching, curing, processing, preserving,
storing or marketing of fish or the purchase of materials and equipment in connection therewith
for the purpose of supplying them to its members,]
the whole of the amount of profits and gains of business attributable to any one or more of such
activities:
2[Provided that in the case of a co-operative society falling under sub-clause (vi), or sub-clause (vii),
the rules and bye-laws of the society restrict the voting rights to the following classes of its members,
namely:—
(1) the individuals who contribute their labour or, as the case may be, carry on the fishing or
allied activities;
(2) the co-operative credit societies which provide financial assistance to the society;
(3) the State Government;]
3[(b) in the case of a co-operative society, being a primary society engaged in supplying milk,
oilseeds, fruits or vegetables raised or grown by its members to—
(i) a federal co-operative society, being a society engaged in the business of supplying milk,
oilseeds, fruits, or vegetables, as the case may be; 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, oilseeds, fruits or vegetables, as the
case may be, to the public),
the whole of the amount of profits and gains of such business;]
(c) in the case of a co-operative society engaged in activities other than those specified in
clause (a) or clause (b) (either independently of, or in addition to, all or any of the activities so
specified), 4[so much of its profits and gains attributable to such activities as does not exceed,—
omitted by Act 20 of 1974, s. 9 (w.e.f. 11975).
415
carrying on the business of banking or providing credit facilities to its members, or
a cottage industry, or
1[
the marketing of agricultural produce grown by its members, or]
the purchase of agricultural implements, seeds, livestock or other articles intended for
agriculture for the purpose of supplying them to its members, or
the processing, without the aid of power, of the agricultural produce of its members, or
2[
the collective disposal of the labour of its members, or
fishing or allied activities, that is to say, the catching, curing, processing, preserving,
storing or marketing of fish or the purchase of materials and equipment in connection therewith
for the purpose of supplying them to its members,]
the whole of the amount of profits and gains of business attributable to any one or more of such
activities:
2[Provided that in the case of a co-operative society falling under sub-clause
the individuals who contribute their labour or, as the case may be, carry on the fishing or
allied activities;
the co-operative credit societies which provide financial assistance to the society;
the State Government;]
3[
in the case of a co-operative society, being a primary society engaged in supplying milk,
oilseeds, fruits or vegetables raised or grown by its members to—
a federal co-operative society, being a society engaged in the business of supplying milk,
oilseeds, fruits, or vegetables, as the case may be; or
the Government or a local authority; or
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, oilseeds, fruits or vegetables, as the
case may be, to the public),
the whole of the amount of profits and gains of such business;]
in the case of a co-operative society engaged in activities other than those specified in
clause
or clause
(either independently of, or in addition to, all or any of the activities so
specified), 4[so much of its profits and gains attributable to such activities as does not exceed,—