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<h1>Finance (No. 2) Act, 1980: Tax Rates, Surcharges, and TDS Rules for Individuals, Firms, and Other Entities.</h1> The Finance (No. 2) Act, 1980, outlines tax rates and surcharges for various entities, including individuals, Hindu undivided families, firms, co-operative societies, local authorities, and companies. It specifies income tax rates based on income brackets and imposes a surcharge on the calculated tax. The Act also details rules for computing net agricultural income, including the treatment of agricultural income as chargeable under different heads of the Income-tax Act and provisions for setting off agricultural losses against income. Additionally, it prescribes rates for tax deduction at source for various types of income, including interest, royalties, and technical fees.