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Union of India - Section

Section 28 in The Co-Operative Societies Act, 1912

28. Power to exempt from income-tax, stamp duty and registration fees .- [(1)] The Central Government by notification in the Official Gazette, may, in the case of any registered society or class of registered society, remit [* * *] [ The letter and brackets " (a)" omitted by Act 38 of 1920, Section 2 and Schedule I.] the income-tax payable in respect of the profits of the society, or of the dividends or other payments received by the members of the society on account of profits;

[* * *] [ Clauses (b) and (c) omitted by Act 38 of 1920, Section 2 and Schedule I.][* * *] [ Clauses (b) and (c) omitted by Act 38 of 1920, Section 2 and Schedule I.]
(2)[ The [Government] [Section 28 renumbered as sub-Section (1) thereof by Act 38 of 1920, Section 2 and Schedule I. ],[by notification in the Official Gazette, may, in the case of any registered society or class of registered society, remit-
(a)the stamp duty with which, under any law for the time being in force, instruments executed by or on behalf of a registered society or by an officer or member and relating to the business of such society, or any class of such instruments, are respectively chargeable, and
(b)any fee payable under the law of registration for the time being in force.]
[In this sub-section "Government" in relation to stamp duty in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policies of insurance, [transfer of shares, debentures] [ Added by A.O. 1937.],[proxies and receipts, and in relation to any stamp duty falling within [entry 96] [ Added by A.O. 1937.][in List I in the Seventh Schedule to [the Constitution] [ Added by A.O. 1937.],[means the Central Government, and save as aforesaid means the State Government.] [ Added by A.O. 1937.] [Section 28 renumbered as sub-Section (1) thereof by Act 38 of 1920, Section 2 and Schedule I. ]
Additional Information6
For Section 28-A inserted by the U.P., see the Co-operative Societies (U.P. Amendment) Act, 1944 (U.P. Act 1 of 1944) as continued in force by the U.P. Expiring Laws Continuance Act, 1948 (U.P. Act 13 of 1948).
Property And Funds Of Registered Societies