Income-tax rates and surcharge framework updated, with parallel TDS rates and rules for computing net agricultural income. The First Schedule prescribes statutory income-tax rates and surcharge structures for individuals (with age-based slabs), firms, co-operative societies, local authorities and companies; establishes detailed TDS rates and surcharge rules for residents and non-residents across categories of receipts; and sets rules for computing net agricultural income including classification by income-head, sector-specific deeming percentages, loss set-off/carry-forward mechanics and assessment procedures applied to agricultural income.