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Income Tax Act, 1962 (Act No. 58 of 1962)

Chapter II : The Taxes

Part II : Special Provisions Relating to Companies

40B. Conversion of co-operative to company


Where any co-operative is incorporated as a company in accordance with the provisions of section 161A or 161C of the Co-operatives Act, 1981 (Act No. 91 of 1981) or section 62 of the Co-operatives Act, 2005 (Act No. 14 of 2005), such co-operative and such company shall for the purposes of this Act be deemed to be and to have been one and the same company.


[Section 40B substituted by section 31(1) of the Taxation Laws Amendment Act, 2007 (Act No. 8 of 2007)]