https://www.taxtmi.com/acts?id=10780 Liability to pay income-tax lies on every person in respect of total income for the financial year, calculated at scheduled rates; for companies the liability is the higher of the standard computation and the corporate rate computation. Liability is discharged by payment of pre-paid taxes, and tax charged is collected after crediting pre-paid taxes. Chargeability and assessment are determined by the Code as it stands on the assessment date immediately following the financial year. en-us Thu, 20 Aug 2009 11:39:15 +0530 Thu, 20 Aug 2009 11:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10780 Liability to pay income-tax lies on every person in respect of total income for the financial year, calculated at scheduled rates; for companies the liability is the higher of the standard computation and the corporate rate computation. Liability is discharged by payment of pre-paid taxes, and tax charged is collected after crediting pre-paid taxes. Chargeability and assessment are determined by the Code as it stands on the assessment date immediately following the financial year. Act-Rules Bills Thu, 20 Aug 2009 11:39:15 +0530 https://www.taxtmi.com/acts?id=10780