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<h1>Finance Act 2008: Income Tax Rates, Rebates, Surcharges for Individuals, Companies; Special Considerations for Women, Seniors</h1> For the assessment year commencing April 1, 2008, income tax is charged at specified rates, subject to rebates and surcharges, as per the Finance Act, 2008. The tax structure accounts for net agricultural income and varies for different entities, including individuals, companies, and associations, with specific considerations for women and senior citizens. Surcharges apply based on income thresholds, with additional levies for education and secondary education funding. Tax deductions and collections are similarly subject to surcharges. Definitions for terms like 'domestic company' and 'net agricultural income' are provided, aligning with the Income-tax Act, 1961.