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Co-operative Society Income Tax

Co-operative Society Income Tax 

  1. Income SlabsTax Rates
    i.Where the taxable income does not exceed Rs. 10,000/-.10% of the income.
    ii.Where the taxable income exceeds Rs. 10,000/- but does not exceed Rs. 20,000/-.Rs. 1,000/- + 20% of income in excess of Rs. 10,000/-.
    iii.Where the taxable income exceeds Rs. 20,000/-Rs. 3.000/- + 30% of the amount by which the taxable income exceeds Rs. 20,000/-.

    Surcharge : 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)

    Education Cess : 3% of the total of Income Tax and Surcharge.

  2. Firm

    Income Tax : 30% of taxable income.Tax Calculator : AY 2014-15

    Surcharge : 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)

    Education Cess : 3% of the total of Income Tax and Surcharge.

  3. Local Authority

    Income Tax : 30% of taxable income.Tax Calculator : AY 2014-15

    Surcharge : 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)

    Education Cess : 3% of the total of Income Tax and Surcharge.

  4. Domestic Company

    Income Tax : 30% of taxable income.Tax Calculator : AY 2014-15

    Surcharge : The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge

    • At the rate of 5% of such income tax, provided that the taxable income exceeds Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)
    • At the rate of 10% of such income tax, provided that the taxable income exceeds Rs. 10 crores.

    Education Cess : 3% of the total of Income Tax and Surcharge.

Co-operative Society Income Tax 

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