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Rate of Income Tax For "Co-Operative Society"
For A.Y. 2014-2015 & A.Y. 2015-2016

Income Slab

Rates of income tax

(1)

where the total income does not exceed Rs. 10,000

10% of the total income;

(2)

where the total income exceeds 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;

(3)

where the total income excees Rs. 20,000

Rs. 3,000 pIus 30%  of the amount by which the total income exceeds Rs. 20,000.

 

Surcharge:— For A. Y. 2014-2015 & 2015-2016, 10% Surcharge on Income Tax, if total income exceeds 1 crore

 

Education Cess:- 2% of income tax.

 

Secondary & Higher Education Cess:- 1% of Income-tax.

 

Marginal Relief: In the case of cooperative society having total income exceeding one crore rupees the total amount payable as income tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees
 
 
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