https://www.taxtmi.com/acts?id=46622 Section 2 prescribes income tax rates for the assessment year beginning 1 April 1980 using the First Schedule, applies surcharges where specified, and designates different Schedule Parts for charging, withholding/deduction, and advance tax computations. It provides a structured method for incorporating net agricultural income into tax calculations-aggregating total and agricultural income, computing tax on the aggregate, computing tax on agricultural income increased by a fixed exemption, subtracting the latter from the former subject to a percentage cap, and then adding a prescribed surcharge. Subsection (7) defines key terms used in the section and Schedule. en-us Thu, 26 Dec 2024 12:47:08 +0530 Thu, 26 Dec 2024 12:47:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46622 Section 2 prescribes income tax rates for the assessment year beginning 1 April 1980 using the First Schedule, applies surcharges where specified, and designates different Schedule Parts for charging, withholding/deduction, and advance tax computations. It provides a structured method for incorporating net agricultural income into tax calculations-aggregating total and agricultural income, computing tax on the aggregate, computing tax on agricultural income increased by a fixed exemption, subtracting the latter from the former subject to a percentage cap, and then adding a prescribed surcharge. Subsection (7) defines key terms used in the section and Schedule. Act-Rules F. Acts / Amendment Acts Thu, 26 Dec 2024 12:47:08 +0530 https://www.taxtmi.com/acts?id=46622