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    <title>THE FIRST SCHEDULE</title>
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    <description>The schedule prescribes income-tax slab rates for individuals (including senior categories), fixed rates for firms, co-operative societies, local authorities and differentiated rates for domestic and foreign companies, together with detailed surcharge bands and caps. It sets TDS withholding rates for residents, non-residents and companies across many income categories and prescribes surcharge on withheld tax. It aligns charging/deduction and advance-tax computation with these rates and provides comprehensive rules for computing net agricultural income, including special treatments for tea, rubber and coffee, loss set-off, carry-forward, and Assessing Officer powers.</description>
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