Schedule 80P – Deductions under section 80P AY 2026-27

Schedule 80P in the Income Tax Return form is intended for co-operative societies to claim deductions under Section 80P of the Income Tax Act, 1961. It captures income from specified activities, such as providing banking or credit facilities to members, running cottage industries, marketing members’ agricultural produce, or supplying agricultural inputs.

Deductions also apply to income from processing members’ agricultural produce (without using power), collective disposal of labour, and fishing or allied activities for member supply. Societies supplying milk, oilseeds, fruits, or vegetables to federal or government co-operative entities also qualify.

Further, income from consumer co-operative societies, interest or dividends from other co-operative investments, renting of godowns/warehouses, and other qualifying activities are also eligible.

Section 80P of the Income-tax Act, 1961

A co-operative society engaged in specified business is allowed to claim the deduction under Section 80P in respect of the profit and gains arising from such business. Further, income in the nature of interest or dividend is also eligible for deduction subject to fulfilment of certain conditions.

This schedule applies to the ITR-5.