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In case of a co-operative society the maximum amount on which income tax is not chargeable is:

A co-operative society enjoys no basic exemption limit and is taxed from the first rupee, so the amount of income not chargeable to tax is "Nil".

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In case of a co-operative society the maximum amount on which income tax is not chargeable is:

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Correct answer D

A co-operative society enjoys no basic exemption limit and is taxed from the first rupee, so the amount of income not chargeable to tax is "Nil".

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