https://www.taxtmi.com/acts?id=46526 Income-tax rates for the assessment year beginning 1 April 1978 are prescribed in the Schedule and subject to surcharges. Where an assessee has net agricultural income and total income exceeds ten thousand rupees, the net agricultural income is aggregated with total income after treating eight thousand rupees as a notional allowance; tax is computed on the aggregate and on the agricultural income increased by eight thousand rupees, the latter being deducted from the former, then increased by a fifteen per cent surcharge and subject to a seventy per cent cap. Withholding, advance tax and specific Act provisions reference Parts II and III of the Schedule, and key definitions govern application. en-us Sat, 21 Dec 2024 13:53:04 +0530 Sat, 21 Dec 2024 13:53:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46526 Income-tax rates for the assessment year beginning 1 April 1978 are prescribed in the Schedule and subject to surcharges. Where an assessee has net agricultural income and total income exceeds ten thousand rupees, the net agricultural income is aggregated with total income after treating eight thousand rupees as a notional allowance; tax is computed on the aggregate and on the agricultural income increased by eight thousand rupees, the latter being deducted from the former, then increased by a fifteen per cent surcharge and subject to a seventy per cent cap. Withholding, advance tax and specific Act provisions reference Parts II and III of the Schedule, and key definitions govern application. Act-Rules F. Acts / Amendment Acts Sat, 21 Dec 2024 13:53:04 +0530 https://www.taxtmi.com/acts?id=46526