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of <h1>Co-operative Societies' Tax Rates Unchanged for 2024-25; Surcharges Apply; Options u/ss 115BAD and 115BAE Available.</h1> For the fiscal year 2024-25, co-operative societies will continue to be taxed at the same rates as the previous year, as outlined in the Union Budget and Finance Bill 2024. A surcharge of 7% applies to societies with income over one crore rupees but under ten crore rupees, and 12% for those exceeding ten crore rupees. Marginal relief is available for surcharge cases. Co-operative societies can opt for a 22% tax rate under section 115BAD, with a 10% surcharge. Manufacturing societies established after April 1, 2023, may pay a 15% tax rate under section 115BAE, also with a 10% surcharge.
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