In the case of co-operative societies, the rates of income-tax have been specified in Paragraph B of Part I-A of the First Schedule to the Bill. They remain unchanged at (10% up to ₹ 10,000; 20% between ₹ 10,001 to ₹ 20,000; and 30% when income excess ₹ 20,000).
Co-operative societies: the Finance Bill preserves the existing three-band income-tax rate structure (10%, 20%, 30%).
Specified income-tax rates for co-operative societies are set out in Paragraph B of Part I-A of the First Schedule to the Finance Bill. The Bill retains the existing three-band structure: 10% on income up to the first band, 20% on the middle band, and 30% on income above the top band, thereby preserving the prior rate structure for co-operative societies.
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