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of <h1>Finance Bill 2011 Sets Income Tax Rates for Individuals, Firms, and Companies; Details on Deductions and Agricultural Income</h1> The Finance Bill, 2011 outlines income tax rates for various entities and individuals in India. For individuals, tax rates vary based on income brackets and categories such as gender and age. Co-operative societies and firms are taxed at specific rates, while local authorities and domestic companies face a 30% tax rate. Non-domestic companies have different rates, including surcharges for high incomes. The Bill also specifies tax deduction rates at source for various income types, including interest and royalties. Rules for computing agricultural income and losses are detailed, with specific provisions for income from tea, rubber, and coffee.
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