https://www.taxtmi.com/acts?id=38235 Clause 2 fixes income tax rates for the 2020-21 assessment year, prescribes surcharge regimes and procedural rules for computing tax, TDS, collection and advance tax using the First Schedule; provides a specific aggregation and subtraction method to account for net agricultural income where it exceeds a threshold; sets differentiated surcharge treatments and ceilings by taxpayer category and specified income heads or sections; and requires a further Health and Education Cess on tax plus surcharge, while defining key terms such as domestic company, insurance commission and net agricultural income. en-us Sat, 01 Feb 2020 15:44:52 +0530 Sat, 01 Feb 2020 15:44:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=38235 Clause 2 fixes income tax rates for the 2020-21 assessment year, prescribes surcharge regimes and procedural rules for computing tax, TDS, collection and advance tax using the First Schedule; provides a specific aggregation and subtraction method to account for net agricultural income where it exceeds a threshold; sets differentiated surcharge treatments and ceilings by taxpayer category and specified income heads or sections; and requires a further Health and Education Cess on tax plus surcharge, while defining key terms such as domestic company, insurance commission and net agricultural income. Act-Rules Bill Sat, 01 Feb 2020 15:44:52 +0530 https://www.taxtmi.com/acts?id=38235