AMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC.Finance Act, 2017
AMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC.Finance Act, 2017
Income-tax rates and surcharge framework updated, affecting slabs, TDS obligations and agricultural income computation. Sets progressive income-tax slabs and surcharge mechanisms for individuals, seniors, co-operative societies, firms, local authorities and companies; ... Summary
Income-tax rates and surcharge framework updated, affecting slabs, TDS obligations and agricultural income computation.
Sets progressive income-tax slabs and surcharge mechanisms for individuals, seniors, co-operative societies, firms, local authorities and companies; prescribes specified withholding tax rates for residents, non-residents and companies across categories (interest, royalties, technical fees, winnings, capital gains) with surcharge additions where aggregate payments exceed thresholds; provides rates for charging tax, salary deductions and advance tax computation; and establishes rules for computing net agricultural income including special valuation rules for tea, rubber and coffee, loss set-off across specified prior years, deduction of state agricultural taxes, and administrative assessment powers.
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