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why Low slab rate for co operative societies under income tax?
Please provide the logic behind that why Low slab rate(of 10000) for co operative societies under income tax?
Replies (3)
Co-operative societies are formed for the mutual benefit purpose. Main moto of the Co-ops is providing benefit to the member of society and not profit earning. That why low slab rate is provided for co-operative society under income tax.
@ Anoopa Is there any other reason???
@ Anoopa ... lower slab means high tax then where is the benefit to co op society
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