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of <h1>Finance Bill 2017: Income Tax Rates Detailed for Individuals, Co-ops, Firms, and Companies; Surcharges for High Incomes</h1> The Finance Bill, 2017 outlines income tax rates for various entities. For individuals, rates vary by age and income, with no tax on income up to 2,50,000 for those under 60, and up to 5,00,000 for those over 80. Co-operative societies are taxed at 10% for income up to 10,000, while firms and local authorities are taxed at a flat 30%. Domestic companies with turnover up to 5 crore are taxed at 29%, others at 30%. Surcharges apply for incomes exceeding 1 crore. Additionally, rules for computing net agricultural income and related deductions are specified.
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