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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Finance Bill 2013: New Tax Rates, Surcharges, and Cess for Various Income Brackets and Age Groups</h1> The Finance Bill, 2013 outlines the income-tax rates for the assessment year starting April 1, 2013. It specifies tax rates for various income brackets, including deductions at source and advance tax payments, with additional surcharges for higher income levels. Individuals over 60 and 80 years have higher exemption limits. Non-resident and foreign companies face higher surcharges on income exceeding certain thresholds. The Bill also mandates an Education Cess and a Secondary and Higher Education Cess on income tax, excluding certain domestic company cases. The provisions ensure consistency with the previous year's tax rates while introducing new amendments.