Income-tax rates: slab-based personal taxation plus separate fixed rates for specified special-source incomes and entities. The schedule prescribes slab-based marginal rates for individuals with higher threshold bands for women and seniors, fixed percentage rates for companies, ... Summary
Income-tax rates: slab-based personal taxation plus separate fixed rates for specified special-source incomes and entities.
The schedule prescribes slab-based marginal rates for individuals with higher threshold bands for women and seniors, fixed percentage rates for companies, unincorporated bodies, societies, local authorities and non-profits, and graduated rates for cooperative societies. Agricultural income above a small exempt amount is aggregated for rate-determination only, with tax computed on the aggregate reduced by tax on the agricultural component increased by the threshold. Specified 'special source' incomes are taxed at separate fixed rates and the total liability equals tax on those incomes at specified rates plus tax on remaining income under the slab regime.
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