Firm taxation: total income attracts prescribed rates, separate capital-gains treatment, surcharge and Health and Education Cess. Section 324 imposes income-tax on total income of a firm assessable as a firm at the applicable Central Act rate for the relevant tax year. General total ... Summary
Firm taxation: total income attracts prescribed rates, separate capital-gains treatment, surcharge and Health and Education Cess.
Section 324 imposes income-tax on total income of a firm assessable as a firm at the applicable Central Act rate for the relevant tax year. General total income excluding specified capital gains is stated at 30%, with separate rates for specified long-term capital gains and short-term gains on share sales. Surcharge applies when total income exceeds the stated threshold, and Health and Education Cess applies to total tax.
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TaxTMI 
TaxTMI 
