Taxation of educational society.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 October 2013 If Education Society is not registered under 12A of I'Tax Act. what tax rate & slab rate is applicable to it.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 October 2013 Since you are an educational society check if you get covered under Secion 10(23C)(iiiad). If yes, then no tax.

However, if you are not covered as above, and you registered as a cooperative society, then you shall be taxed at:

IV. Co-operative Society

i. Income-tax:
Income Slabs 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 the total income exceeds Rs. 20,000/-.

Otherwise, you shall be taxed as an AOP (tax rates as applicable to a male less than 60 year old)

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