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Co-op society under Section 115BAD surcharge is:
A10% flat
B12%
C15%
D37%
Answer & Solution
Correct answer: A. 10% flat
1. Section 115BAD co-op society: basic tax 22%.
2. Surcharge at flat 10% (irrespective of income).
3. Plus 4% Cess. Effective: 25.168%.
_Source: ICAI BoS CA Final Paper 7, Ch 9 "Assessment of Various Entities"_
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