what is the tax rate and slab for the co operative housing society, and what are the rule and where it is written in income tax ready reckoner ,
akhlakh (account assisstant) 29 June 2009
what is the tax rate and slab for the co operative housing society, and what are the rule and where it is written in income tax ready reckoner ,
A V Vishal (Advocate) 30 June 2009
Co-operative Society
i. Income-tax:
| Income Level | Income Tax Rate | |
|---|---|---|
| i. | Where the total income does not exceed Rs. 10,000/-. |
10% of the income. |
| ii. | Where the total 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 total income exceeds Rs.20,000/- | Rs. 3.000/- + 30% of the amount by which total income exceeds Rs.20,000/-. |
ii. Surcharge: Nil
iii. Education Cess: 3% of the Income-tax.
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