Surcharge on income tax and marginal relief rules clarified, with retained TDS and cess mechanics for the financial year. The Finance Bill, 2017 prescribes income tax rates, surcharge rates and education cesses for the financial and assessment years, retains withholding rates for salaries and other incomes, and specifies marginal relief rules to limit incremental tax where incomes cross surcharge thresholds. Part II preserves TDS rates on non salary incomes with surcharge additions for certain non resident and non domestic payees; Part III retains TDS rates on salaries, advance tax computation rules and slabbed rates for individuals including senior age categories. Company tax rates and differentiated surcharge treatment for domestic and non domestic companies are reaffirmed.
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Surcharge on income tax and marginal relief rules clarified, with retained TDS and cess mechanics for the financial year.
The Finance Bill, 2017 prescribes income tax rates, surcharge rates and education cesses for the financial and assessment years, retains withholding rates for salaries and other incomes, and specifies marginal relief rules to limit incremental tax where incomes cross surcharge thresholds. Part II preserves TDS rates on non salary incomes with surcharge additions for certain non resident and non domestic payees; Part III retains TDS rates on salaries, advance tax computation rules and slabbed rates for individuals including senior age categories. Company tax rates and differentiated surcharge treatment for domestic and non domestic companies are reaffirmed.
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