Income-tax rates and surcharge rules govern withholding, procedural calculations, and net agricultural income computation. The First Schedule prescribes slab-based income-tax rates and category-specific scales for individuals, HUFs, firms, co-operative societies, local authorities and companies; applies specified surcharge adjustments for taxpayers exceeding prescribed income thresholds; sets out withholding (TDS) rates for residents, non-residents and companies across income types including interest, dividends, winnings, royalties and fees for technical services; aligns procedural computations and advance tax with these rates; and provides detailed rules for computing net agricultural income, including classification, loss set-off and assessment powers.
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Provisions expressly mentioned in the judgment/order text.
Income-tax rates and surcharge rules govern withholding, procedural calculations, and net agricultural income computation.
The First Schedule prescribes slab-based income-tax rates and category-specific scales for individuals, HUFs, firms, co-operative societies, local authorities and companies; applies specified surcharge adjustments for taxpayers exceeding prescribed income thresholds; sets out withholding (TDS) rates for residents, non-residents and companies across income types including interest, dividends, winnings, royalties and fees for technical services; aligns procedural computations and advance tax with these rates; and provides detailed rules for computing net agricultural income, including classification, loss set-off and assessment powers.
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