Income-tax rates and surcharge framework updated, plus withholding tax rates and rules for computing net agricultural income. Sets statutory income-tax rate schedules for individuals (with distinct senior citizen bands), co-operative societies, firms, local authorities and companies, and prescribes tiered surcharge additions for taxpayers above high-income thresholds. Establishes withholding tax rates for residents, non-residents and companies on categories such as interest, winnings, royalties, technical service fees and capital gains, with surcharge rules for high-value payments and non-domestic companies. Provides that specified alternate Chapters and sections prevail where applicable. Prescribes rules for computing net agricultural income, percentage treatments for certain agricultural products, set-off of historical agricultural losses against specified later assessment years, and procedural powers of the Assessing Officer.