Income Tax Slab 2020-21, FY (Assessment year 2021-22), Cooperative Societies

Income Tax Slab 2020-21, FY (Assessment year 2021-22), Cooperative Societies



The Union Budget for financial year 2020-21 will be presented in the parliament by Union Finance Minister Nirmala Sitharaman on February 1. The Union Budget 2020 will be presented in parliament around 11 am on February 1. Usually the duration to present the Union Budget is 90 to 120 minutes. Till 2016, the Union Budget was presented on the last working day of February. Former finance minister Arun Jaitley changed the tradition in 2017 when he presented the Budget on February 1.

Income tax department launched e-assessment facility in October,2019. The scheme is part of the government’s efforts to reduce human discretion in the assessment and scrutiny of tax returns that in turn could help eliminate possibilities of corruption.


As per Indian Budget 2020-2021:


Income Tax rate slab of 2020-2021 (Assessment year 2021-22) for Cooperative Societies. The following details explain about Income Tax payable by  Cooperative Societies.

The rate of Income Tax payable for Cooperative Societies as below:

Income Tax Slab for Cooperative Societies for the financial year 2020-21 (AY 2021-22).


 Updating soon after Indian Budget 2020-21


The above details are about Income Tax Slab for Financial year 2020-2021.   The assessment year for the said Income Tax Slab is 2021-22 for Cooperative Societies. Would you like to comment about Income Tax payable by Cooperative Societies? Discuss your thoughts below about Income Tax payable tariff rate as per Budget 2020-2021 for Cooperative Societies.



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