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
Health and Education Cess Rates under Income Tax (AY 2024-25)
Explore about the Health and Education Cess Rates applicable under the Income Tax in respect of AY 2024-25 for all types of assessees and taxation schemes.
SOP for Recomputation of Income of Suger Cooperatives u/s 155(19)
CBDT prescribes procedure to resolve tax disputes with co-operative sugar factories in India, allowing deductions for sugarcane purchases at or below the government-approved price.
CBDT Guidelines on Condonation of Delay in ITR Filing by Cooperative Societies
CBDT Circular 13/2023 provides guidelines for condoning the delay in filing income tax returns by co-operative societies claiming deductions under Section 80P, for AY 2018-19 to AY 2022-23.
Surcharge Rates on Income Tax for AY 2023-24
Surcharge on income tax is payable if taxable income of a taxpayer exceeds a specified threshold limit during the AY 2023-24, like Rs 50 lacs in the case of …
Income Tax Slabs/ Rates for Co-operative Societies (AY 2023-24)
The rates of income tax, surcharge, HEC and AMT, applicable in the case of cooperative societies in India in respect of AY 2023-24.
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 …