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of <h1>Finance Bill 2019: New Tax Rates for Individuals, Firms, and Companies; Includes Surcharges and Cess Details</h1> The Finance Bill, 2019 outlines the income tax rates applicable from April 1, 2019, with modifications to the Finance Act, 2018. It specifies tax rates for individuals, Hindu undivided families, co-operative societies, firms, local authorities, and companies. Individuals are taxed progressively based on income brackets, with different rates for senior citizens. Surcharges apply for incomes exceeding certain thresholds, with additional Health and Education Cess at 4%. Companies are taxed at varying rates based on turnover and type, with surcharges for high incomes. Provisions for setting off agricultural income losses from prior years are also included.
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