law: 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.
  11[***]
  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]].