Co-operative society tax regime: rates unchanged with tiered surcharge and optional concessional schemes under sections 115BAD and 115BAE. Co-operative society tax rates remain unchanged and are set in the First Schedule; tiered surcharge applies with marginal relief to address surcharge ... Summary
Co-operative society tax regime: rates unchanged with tiered surcharge and optional concessional schemes under sections 115BAD and 115BAE.
Co-operative society tax rates remain unchanged and are set in the First Schedule; tiered surcharge applies with marginal relief to address surcharge effects. A resident co-operative society meeting specified conditions may elect an optional lower tax regime with a prescribed surcharge. A manufacturing co-operative society formed and commenced production within specified dates, foregoing specified incentives and deductions, may opt for a concessional manufacturing tax rate for assessment years from the stated year, with a prescribed surcharge. These measures are provided in the cited clauses and the First Schedule.
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