Which of the following statements is/are correct regarding the tax relief provided to cooperative societies by the Government of India?
- The surcharge on cooperative societies has been reduced from 12% to 7% on income exceeding ₹1 crore and up to ₹10 crore.
- The Alternate Minimum Tax (AMT) rate for cooperative societies has been reduced from 18.5% to 15% to provide a level playing field with companies.
- Cooperative societies can now withdraw up to ₹5 crore per year without TDS deduction.
1
1 and 2
2
2 and 3
3
Only 1
4
Only 2
5
Only 3