Co-Operative Societies Act, 1912
28. Power to exempt from income-tax, stamp- duty and registration fees
8[(1)] The 9[Central Government], by notification1 in the 9[Official Gazette], may in the case of any registered society or class of registered society remit 10[***] 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.
12[(2) The 9[Government], by notification in the 9[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.]
13[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, 14[transfer of shares, debentures,] proxies and receipts, and in relation to any stamp-duty falling within 15[entry 96] in List I in the Seventh Schedule to 16[the Constitution], means the Central Government, and save as aforesaid means the 17[State Government]].