TaxTMI 
TaxTMI 
Income-tax under Act 30 of 2025.
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....an the individual referred to in Sl. No. 2 or 3; or (ii) Hindu undivided family; or (iii) association of persons or body of individuals, whether incorporated or not; or (iv) every artificial juridical person referred to in section 2(77)(g) of the said Act, not being an assessee to which Paragraph B, C, D or E of Part I-B of the First Schedule applies or to whom Sl. No. 4 applies. Rs. 250000. 2. Every individual, being a resident in India, who is of the age of sixty or more but less than eighty years at any time during the tax year. Rs. 300000. 3. Every individual, being a resident in India, who is of the age of eighty years or more at any time during the tax year. Rs. 500000. 4. Assessee whose income is chargeable to tax under section 202 of the said Act. Rs. 400000. (b) For the purposes of clause (a), the income-tax chargeable shall be computed as per the following formula:- Zn = Xn - Yn where,-- Zn = the income-tax chargeable for the purposes of clause (a); Xn = the amount of income-tax determined in respect of the Aggregate Income (AIn) at the rates specified in Paragraph A of Part I-B of the First ....
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....consisting of only companies as its members, whether incorporated or not; or (iv) body of individuals, whether incorporated or not; or (v) every artificial juridical person referred to in section 2(77)(g) of the said Act, not having any income under section 210 of the said Act, and not having any income chargeable to tax under section 202 of the said Act. (i) Where the total income exceeds Rs. 5000000 but does not exceed Rs. 10000000, at the rate of 10%; (ii) where the total income exceeds Rs. 10000000 but does not exceed Rs. 20000000, at the rate of 15%; (iii) where the total income exceeds Rs. 20000000 but does not exceed Rs. 50000000, at the rate of 25%; (iv) where the total income exceeds Rs. 50000000, at the rate of 37%. 2. 193, 194, 199, 206, 207, 208, 209, 210, 211, 214, 218 or 334. (i) Every individual; or (ii) association of persons, except in a case of an association of persons consisting of only companies as its members, whether incorporated or not; or (iii) body of individuals, whether incorporated or not; or (iv) every artificial juridical person referred to in section 2(77)(g) of the said Act, having any income under section 2....
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....se income is chargeable to tax under section 200 or 201 of the said Act. (i) Where the total income exceeds Rs. 10000000 but does not exceed Rs. 100000000, at the rate of 7%; (ii) where the total income exceeds Rs. 100000000, at the rate of 12%. 7. 193, 194, 199, 206, 207, 208, 209, 210, 211, 214, 218 or 334 Every company, other than a domestic company. (i) Where the total income exceeds Rs. 10000000 but does not exceed Rs. 100000000, at the rate of 2%; (ii) where the total income exceeds Rs. 100000000, at the rate of 5%. 8. 195(1)(i). Any assessee. 25%. 9. 200 or 201. Every domestic company. 10%. 10. 202. (i) Every individual; or (ii) Hindu undivided family; or (iii) association of persons, except in a case of an association of persons consisting of only companies as its members, whether incorporated or not; or (iv) body of individuals, whether incorporated or not; or (v) every artificial juridical person referred to in section 2(77)(g) of the said Act. (i) Where the total income (including dividend income or capital gains under the provisions of sections 196, 197 and 198 of the said Act) exceeds Rs. 5000000 but ....
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....applicable, on an amount as specified in column C of the Table below; and Sn = the total income - amount as specified in column C of the said Table. TABLE Sl. No. Person specified in Table below clause (b) of sub-section (4) Amount Amount A B C D 1. Persons specified against Sl. Nos. 1 and 2 in column C. Rs. 5000000. Rs. 10000000. Rs. 10000000. Rs. 20000000. Rs. 20000000. Rs. 50000000. Rs. 50000000. - 2. Person specified against Sl. No. 3 in column C. Rs. 5000000 Rs. 10000000 Rs. 10000000. - 3. Person specified against Sl. No. 4 in column C. Rs. 10000000. Rs. 100000000. Rs. 100000000. - 4. Person specified against Sl. No. 5 in column C. Rs. 10000000. - 5. Persons specified against Sl. Nos. 6 and 7 in column C. Rs. 10000000. Rs. 100000000. Rs. 100000000. - 6. Persons specified against Sl. Nos. 10 and 11 in column C. Rs. 5000000. Rs. 10000000. Rs. 10000000. Rs. 20000000. Rs. 20000000. - (6) In cases in which tax has to be charged and paid under section 69 or section 170(5) or section 352 of the said Act, the tax shall be charge....
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....t exceed Rs. 20000000, at the rate of 15%; (iii) where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds Rs. 20000000 but does not exceed Rs. 50000000, at the rate of 25%; (iv) where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds Rs. 50000000, at the rate of 37%. 3. (i) 392(7); (ii) 393(1) [Table: Sl. Nos. 1(ii), 2, 3, 4, 6, 7, 8(i), 8(ii), 8(iv), 8(v) and 8(vi)]; (iii) 393(2) [Table: Sl. Nos. 1 to 6, 10, 11 to 14, 15 and 16]; and (iv) 393(3) [Table: Sl. Nos. 4 to 7]. Rates specified in sections referred to in column B. (i) Every individual; or (ii) Hindu undivided family; or (iii) association of persons, except in a case of an association of persons consisting of only companies as its members, whether incorporated or not; or (iv) body of individuals, whether incorporated or not; or (v) every artificial juridical person referred to in section 2(77)(g) of the said Act, being a non-resident, where the income of the person is chargeable to tax under section 202 of the said Act except in case of deduction on dividend income under....
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.... 10000000, at the rate of 15%. 6. (i) 392(7); (ii) 393(1) [Table: Sl. Nos. 1(ii), 2, 3, 4, 6, 7, 8(i), 8(ii), 8(iv), 8(v) and 8(vi)]; (iii) 393(2) [Table: Sl. Nos. 1 to 6, 10, 11 to 14, 15 and 16]; and (iv) 393(3) [Table: Sl. Nos. 4 to 7]. Rates specified in sections referred to in column B. Every co-operative society, being a non-resident. (i) Where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds Rs. 10000000 but does not exceed Rs. 100000000, at the rate of 7%; (ii) where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds Rs. 100000000, at the rate of 12%. 7. (i) 392(7); (ii) 393(1) [Table: Sl. Nos. 1(ii), 2, 3, 4, 6, 7, 8(i), 8(ii), 8(iv), 8(v) and 8(vi)]; (iii) 393(2) [Table: Sl. Nos. 1 to 6, 10, 11 to 14, 15 and 16]; and (iv) 393(3) [Table: Sl. Nos. 4 to 7]. Rates specified in sections referred to in column B. Every firm, being a non-resident. Where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds Rs. 10000000, at the rate of 12%. 8. (i) 392(7); (i....
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....ds Rs. 10000000 but does not exceed Rs. 20000000, at the rate of 15%; (iii) where the amount or the aggregate of such amounts collected or likely to be collected and subject to the collection, exceeds Rs. 20000000 but does not exceed Rs. 50000000, at the rate of 25%; (iv) where the amount or the aggregate of such amounts collected or likely to be collected and subject to the collection exceeds Rs. 50000000, at the rate of 37%. 2. (i) Every individual; or (ii) Hindu undivided family; or (iii) association of persons, except in a case of an association of persons consisting of only companies as its members, whether incorporated or not; or (iv) body of individuals, whether incorporated or not; or (v) every artificial juridical person referred to in section 2(77)(g) of the said Act, being a non-resident, where the income of such person is chargeable to tax under section 202 of the said Act. (i) Where the amount or the aggregate of such amounts collected or likely to be collected and subject to the collection exceeds Rs. 5000000 but does not exceed Rs. 10000000, at the rate of 10%; (ii) where the amount or the aggregate of such amounts collected or likely to....
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....in force, such income-tax or, as the case may be, "advance tax" shall be charged, deducted or computed at the rate or rates specified in Part III of the First Schedule and such tax shall be increased by a surcharge, for the purposes of the Union, calculated in such cases and in such manner as provided therein. (11) For the purposes of sub-section (10), in cases to which the provisions of Part A, B, C or D of Chapter XIII or sections 207 to 218, 223, 224, 307, 308, 311 or 334 of the said Act apply, "advance tax" shall be computed with reference to the rates imposed by this sub-section and sub-sections (10), (12) and (13) or the rates as specified in that Chapter or section, as the case may be. (12) For the purposes of sub-sections (10) and (11),- (a) the amount of "advance tax" computed in accordance with the provisions of section 196, 197 or 198 of the said Act shall be increased by a surcharge, for the purposes of the Union, as provided in Paragraph F of Part III of the First Schedule, except in case of,- (i) a domestic company whose income is chargeable to tax under section 200 or 201 of the said Act; (ii) an individual or Hindu undivided....
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....but does not exceed Rs. 10000000, at the rate of 10%; (ii) where the total income exceeds Rs. 10000000 but does not exceed Rs. 20000000, at the rate of 15%; (iii) where the total income [excluding dividend income or short-term or long-term capital gains as referred to in section 210(1) [Table: Sl. Nos. 2 to 5] of the said Act] exceeds Rs. 20000000 but does not exceed Rs. 50000000, at the rate of 25%; (iv) where the total income [excluding dividend income or short-term or long-term capital gains as referred to in section 210(1) [Table: Sl. Nos. 2 to 5] of the said Act] exceeds Rs. 50000000, at the rate of 37%; (v) where the total income [including dividend income or short-term or long-term capital gains as referred to in section 210(1) [Table: Sl. Nos. 2 to 5] of the said Act] exceeds Rs. 20000000, but is not covered in clauses (iii) and (iv), at the rate of 15%; (vi) where the total income includes any dividend income or short-term or long-term capital gains as referred to in section 210(1) [Table: Sl. Nos. 2 to 5] of the said Act, the rate of surcharge on the advance tax computed on that part of income shall not exceed 15% and the provisions of clause (i) or (ii), a....
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....of sections 196, 197 and 198 of the said Act) exceeds Rs. 10000000 but does not exceed Rs. 20000000, at the rate of 15%; (iii) where the total income (excluding dividend income or capital gains under the provisions of sections 196, 197 and 198 of the said Act) exceeds Rs. 20000000, at the rate of 25%; (iv) where the total income (including dividend income or capital gains under the provisions of sections 196, 197 and 198 of the said Act) exceeds Rs. 20000000, but is not covered in clause (iii), at the rate of 15%; (v) where the total income includes any dividend income or capital gains under the provisions of sections 196, 197 and 198 of the said Act, the rate of surcharge on the "advance tax" in respect of that part of income shall not exceed 15% and the provisions of clause (i) or (ii), as the case may be, shall apply accordingly. 11. 202. Association of persons consisting of only companies as its members (i) Where the total income exceeds Rs. 5000000 but does not exceed Rs. 10000000, at the rate of 10%; (ii) where the total income exceeds Rs. 10000000, at the rate of 15%. 12. 203 or 204. Every co-operative society resident in India 10%. 13.....
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....to be charged in respect of the income of a period other than the tax year, in such other period, any net agricultural income exceeding Rs. 5000 in addition to the total income, which exceeds the maximum amount not chargeable to income-tax, as specified in column C of the said Table, in respect of the said assessee, then, in charging income-tax under section 317(2) or 318 or 319 or 320(2) of the said Act or in computing the "advance tax" payable under Chapter XIX-C of the said Act, at the rate or rates in force, the net agricultural income shall be taken into account, only for the purpose of charging or computing such income-tax or, as the case may be, "advance tax" in respect of the total income. TABLE Sl.No. Assessee Maximum amount not chargeable to income-tax A B C 1 (i) Every individual other than the individual referred to in Sl. No. 2 or 3; or (ii) Hindu undivided family; or (iii) association of persons or body of individuals, whether incorporated or not; or (iv) every artificial juridical person referred to in section 2(77)(g) of the said Act, not being an assessee to which Paragraph B, C, D or E of Part I-B of the First schedule applie....
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....licable surcharge, for the purposes of the Union, calculated in the manner provided therein, shall be further increased by an additional surcharge, for the purposes of the Union, to be called the "Health and Education Cess on income-tax", calculated at the rate of 4% of such income-tax and surcharge so as to fulfil the commitment of the Government to provide and finance quality health services and universalised quality basic education and secondary and higher education. (17) The provisions of sub-section (16) shall not apply-- (i) to cases in which tax is to be deducted or collected under the sections of the said Act mentioned in sub-sections (7), (8) and (9), if the income subjected to deduction of tax at source or collection of tax at source is paid to a domestic company and any other person who is resident in India; (ii) in respect of income-tax as specified in sub-sections (10) to (13), calculated on income, referred to in section 210(1) [Table: Sl. No. 1] of the said Act, of specified fund referred to in Schedule VI [Note 1(g)] of the said Act. (18) For the purposes of this section and Parts I-B, II, III and IV-B of the First Schedule,- (a) "do....