The Union Budget 2022-23 has proposed to reduce the surcharge of cooperative societies from  --- to 7% for those whose income is between ₹1 crore and ₹10 crore.

Correct option is C

The correct option is (C) 12%

Key Highlights:

• Surcharge Reduction: The reduction in surcharge is specifically targeted at cooperative societies with incomes ranging from ₹1 crore to ₹10 crore, making it more favorable for these entities.
  
• Context: This change is part of broader tax reforms aimed at creating a stable and predictable tax regime, encouraging compliance, and reducing litigation.
  
• Broader Implications: The move is expected to enhance the financial viability of cooperative societies, which play a significant role in various sectors, including agriculture and rural development.