Income tax rates schedule establishes graded tax brackets, surcharge rules and withholding rates for diverse taxpayer classes.

The Schedule prescribes graded income tax brackets, exemptions and reductions for individuals, HUFs, firms, societies, local authorities, LIC and companies, and applies surcharges; it also sets specific rates for tax deduction at source for residents, non residents, domestic and foreign companies on interest, dividends, royalties and technical fees, and provides rates for computing tax in salary, advance tax and other specified contexts.

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