Who is a ‘Person’ under S. 2(31) of Income Tax Act in India
Find out what constitutes a 'person' under Section 2(31) of the Income Tax Act in India and what it means for tax purposes.
Tag: Cooperative Societies
Income Tax Slabs/ Rates for Co-operative Societies (AY 2022-23)
The income tax slabs and rates applicable to cooperative societies in respect of AY 2022-23, as per the Finance Act of 2022, are as follows: Normal Tax Rates Applicable …
Health and Education Cess Rates under Income Tax (AY 2022-23)
Aggregate amount of Income tax and Surcharge (if applicable) is further subject to 4% ‘Health and Education Cess’ in the case of all types of taxpayers, in respect of …
Marginal Relief from Surcharge on Income Tax: AY 2022-23
For AY 2022–23, assessees can claim marginal relief from the surcharge on income tax to mitigate the effect of the additional tax burden that is over and above the …
Surcharge Rates on Income Tax: AY 2022-23
Surcharge on income tax is payable if taxable income of a taxpayer exceeds a specified threshold limit during the AY 2022–23, i.e., Rs. 50 lacs in the case of …