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<h1>Finance Bill 2014: New Income Tax Rates, Surcharges, and Education Cess Explained for Various Entities</h1> The Finance (No. 2) Bill, 2014 outlines the income tax rates for the assessment year starting April 1, 2014. It specifies tax rates for individuals, Hindu undivided families, companies, and other entities, with varying rates based on income thresholds. Surcharges apply for incomes exceeding certain amounts, with different rates for domestic and non-domestic companies. The Bill also details tax deduction at source, advance tax payments, and special cases. Additionally, an Education Cess of 2% and a Secondary and Higher Education Cess of 1% are levied, except on certain domestic income. Marginal relief is provided for specific income brackets.