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    NewsBill
    Rates of income-tax in respect of income liable to tax for the assessment year 2026-27 for the purpo...
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    Income-tax rates for assessment year 2026-27 remain unchanged; schedule placement for advance tax and salary TDS is preserved.
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    Co-operative societies: existing tax rates unchanged; 7% and 12% surcharges apply with marginal relief; 22% option available.
    In respect of co-operative societies, income-tax rates remain unchanged from FY 2025-26. A 7% surcharge on income-tax applies where total income exceeds one crore but does not exceed ten crore rupees, and a 12% surcharge applies where total income exceeds ten crore rupees; marginal relief is provided. A resident co-operative society that satisfies certain conditions may opt to pay tax at 22% under the Act, with a 10% surcharge on such tax.

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      Co-operative Societies

      1 February, 2026

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      Union Budget 2026-27 - Finance Bill, 2026

      In the case of co-operative societies, the rates of income-tax have been specified in Paragraph B of Part I-B of the First Schedule to the Bill. These rates will continue to be the same as those specified for FY 2025-26. The amount of income-tax shall be increased by a surcharge at the rate of 7% of such income-tax in case the total income of a co-operative society exceeds one crore rupees but does not exceed ten crore rupees. Surcharge at the rate of 12% of such income-tax shall continue to be levied in case of a co-operative society having a total income exceeding ten crore rupees.

      2. Marginal relief is provided in cases of surcharge.

      3. On satisfaction of certain conditions, a co-operative society resident in India shall have the option to pay tax at 22% as per the provisions of section 203 of the Act. Surcharge would be at 10% on such tax.

       

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      Union Budget 2026-27 - Finance Bill, 2026

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