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<h1>Finance Act 2021 Sets Income Tax Rates for Individuals, Firms, Co-ops, and More; Includes Surcharges and Deductions.</h1> The Finance Act, 2021 outlines income tax rates for individuals, Hindu undivided families, associations, bodies of individuals, and artificial juridical persons. For individuals, tax rates vary based on age and income brackets, with different slabs for those above 60 and 80 years. Surcharges apply for incomes exceeding certain thresholds. Co-operative societies, firms, local authorities, and companies have specified tax rates, with surcharges applicable for higher incomes. Tax deduction at source rates are detailed for various income types, with distinctions between residents and non-residents. Additionally, rules for computing net agricultural income are specified, including provisions for setting off losses.