Budget 2022: AMT rate for co-operative societies reduced to 15%

Last updated: 03 February 2022 Follow on Google News

Rationalization of provisions of the Act to promote the growth of co-operative societies 1. Section 115JC of the Act, inter alia, provides for the alternate minimum tax (AMT) payable by co-operative societies, which is at the rate of 18.5%. However, vide the Taxation Laws (Amendment) Act, 2019, t

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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