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Rates of Income Tax - Co-operativer Societies

Where the total income does not exceed Rs. 10,000. 10% of the total income;
Where the total income exeeds Rs. 10,000 but does not exceed Rs. 20,000. Rs. 1,000 pIus 20%. of the amount by which the total income exceeds Rs. 10,000;
Where the total income exceeds Rs. 20,000. Rs. 3,000 pIus 30%. of the amount by which the total income exceeds Rs. 20,000

Surcharge: The amount of income-tax shall be increased by a surcharge at the rate of 12% of such income-tax in case of a co-operative society having a total income exceeding Rs. 1 crore.

Marginal relief: The total amount payable as income-tax and surcharge on total income exceeding Rs. 1 crore shall not exceed the total amount payable as income-tax on a total income of Rs. 1 crore by more than the amount of income that exceeds ` 1 crore.

Health and Education Cess: 'Health and Education Cess (H&EC) on Income Tax' @ 4% on income tax (inclusive of surcharge, wherever applicable) shall be levied.

Rates of Income Tax - Co-operativer Societies
More..Topics :
Meaning & Definition, Assessments of 'Co-Operative Societies'
Deductions from Total Income of 'Co-Operative Societies' [Section 80P]
Income-Tax On Co-Operative Societies
 

 
 
 
 
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