THE FIRST SCHEDULE - RATES OF INCOME-TAX

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....es of income-tax (1) where the total income does not exceed Rs.1,60,000 Nil; (2) where the total income exceeds Rs.1,60,000 but does not exceed Rs.10,00,000 10 per cent of the amount by which the total income exceeds Rs.1,60,000; (3) where the total income exceeds Rs.10,00,000 but does not exceed Rs.25,00,000 Rs.84,000 plus 20 per cent of the amount by which the total income exceeds Rs. 10,00,000; (4) where the total income exceeds Rs.25,00,000  Rs.3,84,000 plus 30 per cent of the amount by which the total income exceeds Rs.25,00,000; (II) In the case of every individual, being a woman resident in India, and below the age of sixty-five years at any time during the financial year,— Rates of in....

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.... income does not exceed Rs.10,000 10 per cent of the total income; (2) where the total income exceeds Rs.10,000 but does not exceed Rs.20,000 Rs.1,000 plus 20 per cent of the amount by which the total income exceeds Rs.10,000; (3) where the total income exceeds Rs.20,000 Rs.3,000 plus 30 per cent of the amount by which the total income exceeds Rs.20,000; (II) In the case of every other society,- Rate of income-tax On the whole of the total income 30 per cent Paragraph C In the case of every non-profit organisation,- Rate of income-tax On the whole of the total income 15 per cent Paragraph D In the case of every unincorporated body,- Rate of income-tax On the whole of the total inco....

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....in respect of the net agricultural income as so increased at the rates specified in the said Paragraph A, as if the net agricultural income as so increased were the total income;          (iii) the amount of income-tax determined in accordance with sub-clause (i) shall be reduced by the amount of income-tax determined in accordance with sub-clause (ii) and the sum so arrived at shall be the income-tax in respect of the total income. (3) However, if the total income of a person specified in column 2 of the Table below includes income from any special source specified in the corresponding entry in column 3 of the said Table, the liability to income tax of the person shall be the aggregate of- &....