Question:
In case of a co-operative society the maximum amount on which income tax is not chargeable is
In case of a co-operative society the maximum amount on which income tax is not chargeable is
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Co-operative societies enjoy concessional tax slabs, starting with exemption up to ₹30,000.
Updated On: Oct 31, 2025
- 50,000
- 30,000
- 20,000
- Nil
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The Correct Option is B
Solution and Explanation
Step 1: Income tax provisions.
Under the Income Tax Act, co-operative societies enjoy a slab-based exemption limit.
Step 2: Applicable exemption.
The exemption limit is ₹30,000 for co-operative societies. Beyond this, tax is chargeable as per slab rates.
Step 3: Conclusion.
Hence, the correct answer is (B).
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