Tax on Income of certain Resident Co-operative societies under section 115BAD - Income Tax - Ready Reckoner - Income Tax

..... Section 115BAD; Tax on Income of certain Resident Co-operative societies (Added by FA 2020, w.e.f. AY 2021-2022) Assessee should be Resident Co-operative Society. Income under section 115BAD shall be taxable @22%. Special Income under section 111A, 112, 112A shall be taxable @ Special rates. Surcharge rate will be 10% irrespective of total Income. Assessee opting for section BAD shall not be required to pay AMT. Brought forward AMT credit cannot be utilized against income, u/s 115BAD. Therefore, .....

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Tax on Income of certain Resident Co-operative societies under section 115BAD - Income Tax - Ready Reckoner - Income Tax

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