Co-operatives for scheduled castes [Section 10(27)] :

Any income of a co-operative society formed for promoting the interests of the members of either the scheduled castes or scheduled tribes will be exempted from being included in the total income of the society. Conditions:

(a) The membership of the co-operative society should consist of only other cooperative societies formed for similar purposes, and

(b) The finances of the society shall be provided by the Government and such other societies.