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[Cites 0, Cited by 0] [Section 149] [Entire Act]

Union of India - Subsection

Section 149(3) in The Income Tax Act, 2025

(3)In the case of a co-operative society as referred to in sub-section (2)(a)(vi) or (vii), provisions of sub-section (1) shall only apply when the rules and bye-laws of the society restrict the voting rights to the following classes of its members:—
(i)the individuals who contribute their labour or carry on fishing or allied activities;
(ii)the co-operative credit societies which provide financial assistance to the society;
(iii)the State Government.