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of <h1>Finance Act 2011: Tax Rates for Individuals, Companies, and More, with Surcharges Over One Crore Income</h1> The First Schedule of the Finance Act, 2011 outlines various income tax rates applicable to different entities and individuals in India. For individuals, tax rates vary based on income levels and categories such as general, women, and senior citizens, with exemptions and progressive rates up to 30%. Co-operative societies, firms, local authorities, and companies have specific tax rates, with domestic companies taxed at 30% and non-domestic companies at varying rates based on income type. Surcharges apply to companies with incomes exceeding one crore rupees. Rules for computing agricultural income and related deductions are also specified, with provisions for setting off losses and assessing net agricultural income.
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