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Tax rates for the last ten assessment years
INCOME-TAX RATES FOR CO-OPERATIVE SOCIETIES
Assessment year 2016-17 to 2020-21
| Total Income | Tax Rates |
| For first Rs. 10,000 | 10% |
| For next Rs. 10,000 | 20% |
| On balance | 30% |
Surcharge on income-tax—
| Assessment year | Surcharge (as % of income-tax) |
| 2015-16 | 10% (if income exceeds Rs. 1 crore) |
| 2016-17 to 2020-21 | 12% (if income exceeds Rs. 1 crore) |
Education cess: 2% of income-tax and surcharge for the assessment years 2014-15 to 2018-19.
Secondary and higher education cess: 1% of income-tax for the assessment years 2014-15 to 2018-19.
Health and education cess: 4% of income-tax for the assessment Years 2019-20 and 2020-21
Assessment Year 2021-22 and 2022-23 (for Old tax regime)
| Total Income | Tax Rates |
| For first Rs. 10,000 | 10% |
| For next Rs. 10,000 | 20% |
| On balance | 30% |
Surcharge on Income Tax: 12% of income tax, if the income exceeds Rs. 1 crore
Alternative Tax Regime under section 115BAD - The income shall be taxable at a flat rate of 22%. Further, surcharge shall be levied at a flat rate of 10% of the income tax, irrespective of the income of such society.
Health and Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of 4% of such income-tax and surcharge.
Assessment Year 2023-24 (for Old tax regime)
| Total Income | Tax Rates |
| For first Rs. 10,000 | 10% |
| For next Rs. 10,000 | 20% |
| On balance | 30% |
Surcharge on Income Tax:
• 7% of income tax, if the income exceeds Rs. 1 crore uptoRs. 10 crores
• 12% of income tax, if the income exceeds Rs. 10 crores.
Alternative Tax Regime under section 115BAD - The income shall be taxable at a flat rate of 22%. Further, surcharge shall be levied at a flat rate of 10% of the income tax, irrespective of the income of such society.
Health and Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of 4% of such income-tax and surcharge.
Assessment Year 2024-25 (for Old tax regime)
| Total Income | Tax Rates |
| For first Rs. 10,000 | 10% |
| For next Rs. 10,000 | 20% |
| On balance | 30% |
Surcharge on Income Tax:
• 7% of income tax, if the income exceeds Rs. 1 crore uptoRs. 10 crores
• 12% of income tax, if the income exceeds Rs. 10 crores.
Alternative Tax Regime under section 115BAD - The income shall be taxable at a flat rate of 22%. Further, surcharge shall be levied at a flat rate of 10% of the income tax, irrespective of the income of such society.
Alternative Tax Regime under section 115BAE - The income from manufacturing activities shall be taxable at a flat rate of 15% subject to the fulfilment of certain conditions. Further, surcharge shall be levied at a flat rate of 10% of the income tax, irrespective of the income of such society.
Health and Education Cess: The amount of income-tax and the applicable surcharge shall be further increased by health and education cess calculated at the rate of 4% of such income-tax and surcharge.
Assessment Year 2025-26 (for Old tax regime)
| Total Income | Tax Rates |
| For first Rs. 10,000 | 10% |
| For next Rs. 10,000 | 20% |
| On balance | 30% |
Surcharge on Income Tax:
• 7% of income tax, if the income exceeds Rs. 1 crore uptoRs. 10 crores
• 12% of income tax, if the income exceeds Rs. 10 crores.
Alternative Tax Regime under section 115BAD - The income shall be taxable at a flat rate of 22%. Further, surcharge shall be levied at a flat rate of 10% of the income tax, irrespective of the income of such society.
Alternative Tax Regime under section 115BAE - The income from manufacturing activities shall be taxable at a flat rate of 15% subject to the fulfilment of certain conditions. Further, surcharge shall be levied at a flat rate of 10% of the income tax, irrespective of the income of such society.
Health and Education Cess: The amount of income-tax and the applicable surcharge shall be further increased by health and education cess calculated at the rate of 4% of such income-tax and surcharge.