Major Lloydasked the Financial Secretary to the Treasury how many small businesses purchased by Co-operative Societies are being run as private concerns; and whether the Co-operative Societies claim the same exemption from Income Tax for such businesses as they themselves enjoy.
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§ Mr. AsshetonI regret that I have no information regarding the first part of the Question. As regards the second part, I would point out that the exemption from Income Tax previously enjoyed by co-operative societies was withdrawn by Section 31 of the Finance Act, 1933.