Co-operative society tax rates and surcharge structure clarified for FY, with marginal relief and optional concessional tax regime available.

Rates of income-tax for co-operative societies remain unchanged from the prior fiscal year. A tiered surcharge regime applies with marginal relief to smooth threshold effects. Resident co-operative societies that satisfy specified conditions may elect a concessional tax option under the Finance Bill, which attracts a reduced surcharge on the alternative tax.

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