Income-tax rate structure updated with new slabs, surcharge and TDS rates affecting individuals, companies and non-residents. Consolidates statutory rates and mechanisms for income-tax, surcharge and TDS across taxpayers-individuals (with senior citizen categories), co-operative societies, firms, local authorities and companies-and prescribes corresponding surcharge bands with caps; aligns charging, salary withholding and advance tax rates to those schedules; and establishes rules for computing net agricultural income including treatment by income head, sectoral percentages for tea/rubber/coffee, carry forward and set off of agricultural losses and assessment procedure parity.
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Provisions expressly mentioned in the judgment/order text.
Income-tax rate structure updated with new slabs, surcharge and TDS rates affecting individuals, companies and non-residents.
Consolidates statutory rates and mechanisms for income-tax, surcharge and TDS across taxpayers-individuals (with senior citizen categories), co-operative societies, firms, local authorities and companies-and prescribes corresponding surcharge bands with caps; aligns charging, salary withholding and advance tax rates to those schedules; and establishes rules for computing net agricultural income including treatment by income head, sectoral percentages for tea/rubber/coffee, carry forward and set off of agricultural losses and assessment procedure parity.
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