Tax rate amendment increases non resident tax rate for the specified income category, altering tax computation from the next fiscal year. Amendment replaces the previous rate expression in section 115AD(1)(iii) with twelve and one-half per cent., changing the statutory tax rate applicable to ... Summary
Tax rate amendment increases non resident tax rate for the specified income category, altering tax computation from the next fiscal year.
Amendment replaces the previous rate expression in section 115AD(1)(iii) with twelve and one-half per cent., changing the statutory tax rate applicable to the covered class of income; the change is enacted by the Finance Act, 2025 and takes effect from the commencement of the stated fiscal year.
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