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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