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    <title>First Schedule</title>
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    <description>The First Schedule prescribes entity specific income-tax rates, reductions and caps for individuals and families, bespoke scales for co operative societies and registered firms, fixed rates for local authorities and differentiated company rates including rules on dividend distribution amounts. It layers surcharges calculated on specified income components when thresholds are exceeded and a special surcharge on the aggregate of tax and surcharges. Part II sets rates for deduction of tax at source by payer category and payment type, with alternative rules for non residents and specified withholding percentages for dividends, royalties, fees and interest.</description>
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    <pubDate>Thu, 12 Dec 2024 15:15:26 +0530</pubDate>
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      <description>The First Schedule prescribes entity specific income-tax rates, reductions and caps for individuals and families, bespoke scales for co operative societies and registered firms, fixed rates for local authorities and differentiated company rates including rules on dividend distribution amounts. It layers surcharges calculated on specified income components when thresholds are exceeded and a special surcharge on the aggregate of tax and surcharges. Part II sets rates for deduction of tax at source by payer category and payment type, with alternative rules for non residents and specified withholding percentages for dividends, royalties, fees and interest.</description>
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