Income-tax rates for assessment year 2026-27 set with surcharge rules, agricultural income inclusion, and 4% cess. Specifies income-tax rates for the assessment year 2026-27 in Part I-A of the First Schedule, prescribes surcharge tables and exceptions by assessee category, provides a formula (Zo = Xo - Yo) to include net agricultural income above Rs.5,000 for tax charging, establishes a cap mechanism on total tax plus surcharge (To = Ro + So) for certain bands, and mandates a 4% Health and Education Cess; defines 'domestic company' and 'net agricultural income' for these purposes.
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Provisions expressly mentioned in the judgment/order text.
Income-tax rates for assessment year 2026-27 set with surcharge rules, agricultural income inclusion, and 4% cess.
Specifies income-tax rates for the assessment year 2026-27 in Part I-A of the First Schedule, prescribes surcharge tables and exceptions by assessee category, provides a formula (Zo = Xo - Yo) to include net agricultural income above Rs.5,000 for tax charging, establishes a cap mechanism on total tax plus surcharge (To = Ro + So) for certain bands, and mandates a 4% Health and Education Cess; defines "domestic company" and "net agricultural income" for these purposes.
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