Income Tax Slabs or Rates | Co-operative Societies | FY 2017-18 | AY 2018-19

Income Tax Slabs or Rates | Co-operative Societies | FY 2017-18 | AY 2018-19

Income Tax Slabs/ Rates applicable for Co-operative Societies in respect of FY 2017-18/ PY 2017-18 (AY 2018-19), as per Finance Act, 2017, are as under:

Total Income (Rs.) Income Tax Slab/ Rate
Upto 10,000 10% of Total Income
10,001 to 20,000 Rs. 1,000 plus 20% of Total Income
Above 20,000 Rs. 3,000 plus 30% of Total Income

Notes:

Income Tax Rates for Co-operative Societies in each slab, as mentioned above, are inclusive of income tax liability upto previous slab(s). To arrive at total income tax liability, education cess and surcharge are to be applied, as under:

i) education cess/ secondary and higher education cess @ 3% in all cases; and

ii) surcharge @ 12% in cases where total income exceeds Rs. 1 crore, subject to provisions relating to marginal relief, if applicable.

Related Posts:

Income Tax Slabs/ Rates: Income Tax Cess, Surcharge & Rebate
Resident Individuals Education Cess Rates
NRIs/ HUFs/ AOP/ BOI/ AJP Surcharge Rates
Partnership Firms and LLPs Marginal Relief from Surcharge on Income Tax
Domestic Companies Income Tax Rebate u/s 87A for Individuals
Foreign Companies
Co-operative Societies
Local Authorities

2 Comments

  1. Sudesh Shetty
    • CA Smita

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