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....us 30 per cent. of the amount by which the total income exceeds Rs. 10,00,000. (II) In the case of every individual, being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the previous year,- Rates of income-tax (1) where the total income does not exceed Rs. 3,00,000 Nil; (2) where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000 5 per cent. of the amount by which the total income exceeds Rs. 3,00,000; (3) where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 Rs. 10,000 plus 20 per cent. of the amount by which the total income exceeds Rs. 5,00,000; (4) where the total income exceeds Rs. 10,00,000 Rs. 1,10,000 plus 30 per cent. of the amount by which the total income exceeds Rs. 10,00,000. (III) In the case of every individual, being a resident in India, who is of the age of eighty years or more at any time during the previous year,- Rates of income-tax (1) where the total income does not exceed Rs. 5,00,000 Nil; (2) where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 20 per cent. of the amount by which the....
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....as specified in column C of the said Table, of such income-tax. TABLE 1 Sl.No. Person Rate of surcharge A B C 1. (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(31)(vii) of the said Act. (i) Where the total income (including dividend income or capital gains under the provisions of sections 111A, 112 and 112A of the said Act) exceeds Rs. 50,00,000 but does not exceed Rs. 1,00,00,000, at the rate of 10 per cent.; (ii) where the total income (including dividend income or capital gains under the provisions of sections 111A, 112 and 112A of the said Act) exceeds Rs. 1,00,00,000 but does not exceed Rs. 2,00,00,000, at the rate of 15 per cent.; (iii) where the total income (excluding dividend income or capital gains under the provisions of sections 111A, 112 and 112A of the said Act) exceeds Rs. 2,00,00,000 but does not exceed Rs. 5,00,00,000, at the rate of 25 pe....
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....able as income-tax and surcharge thereon shall not exceed; Uo= the total amount payable as income-tax and surcharge, if applicable, on an amount as specified in column C of the Table 2 below; and Vo= the total income - amount as specified in column C of the said Table. TABLE 2 Sl.No. Person Amount Amount A B C D 1. Table 1: Sl. No. 1.B. Rs. 50,00,000. Rs. 1,00,00,000. Rs. 2,00,00,000. Rs. 5,00,00,000. Rs. 1,00,00,000. Rs. 2,00,00,000. Rs. 5,00,00,000. - 2. Table 1: Sl. No. 2.B. Rs. 50,00,000. Rs. 1,00,00,000. Rs. 1,00,00,000. - 3. Table 1: Sl. No. 3.B. Rs. 1,00,00,000. Rs. 10,00,00,000. Rs. 10,00,00,000. - 4. Table 1: Sl. No. 4.B. Rs. 1,00,00,000. - 5. Table 1: Sl. Nos. 5.B and 6.B. Rs. 1,00,00,000. Rs. 10,00,00,000. Rs. 10,00,00,000. - B.-- INCOME-TAX UNDER THE INCOME-TAX ACT, 2025 Paragraph A (I) In the case of every individual other than the individual referred to in items (II) and (III) of this Paragraph or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial jur....
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....me exceeds Rs. 20000. Paragraph C In the case of every firm,- Rate of income-tax On the whole of the total income 30%. Paragraph D In the case of every local authority,- Rate of income-tax On the whole of the total income 30%. Paragraph E In the case of a company,- Rates of income-tax I. In the case of a domestic company,- (i) where its total turnover or the gross receipt in the tax year 2024-25 does not exceed Rs. 400 crores; 25% of the total income; (ii) other than that referred to in item (i). 30% of the total income. II. In the case of a company other than a domestic company,- (i) on so much of the total income as consists of,- (a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st March, 1961 but before the 1st April, 1976; or (b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th February, 1964 but before the 1st April, 1976, and where such agreemen....
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....ation 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%. 3. Every cooperative society. (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%. 4. Every firm or local authority. Where the total income exceeds Rs. 10000000, at the rate of 12%. 5. Every domestic company. (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%. 6. 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%. Further, in respect of the persons mentioned in column B of the Table 2 below, having total income exceeding the amount as specified in column C of the said Table but does not exceed the amo....
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....ssued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act (B) any debentures issued by a company where such debentures are listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and the rules made thereunder (C) any security of the Central Government or State Government 10% (vii) on any other income 10% (b) where the person is not resident in India,- (i) in the case of a non-resident Indian,- (A) on any investment income 20% (B) on income by way of long-term capital gains referred to in section 214 or 197(4) of the said Act 12.5% (C) on income by way of long-term capital gains referred to in section 198 of the said Act exceeding Rs. 125000 12.5% (D) on other income by way of long-term capital gains [not being long-term capital gains referred to in Schedule II [Table: Sl. Nos. 14 and 17] [to the extent it relates to section 10(36) of the Income-tax Act, 1961 (43 of 1961)] of t....
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.... income by way of dividend other than the income referred to in sub-item (b)(i)(M) 20%; (O) on the whole of the other income 30%; (ii) in the case of any other person,- (A) on income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in section 393(2) [Table: Sl. Nos. 2 to 5] of the said Act) 20%; (B) on income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern where such royalty is in consideration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book referred to in section 207(3)(a) of the said Act, to the Indian concern, in respect of any computer software referred to in section 207(3)(b) of the said Act, to a person resident in India 20% (C) on income by way of royalty [not being royalty of the nature referred to in sub-item (b)(ii)(B)] payable by Government or an In....
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.... any sort (other than winnings from online games) 30%; (iii) on income by way of winnings from horse races 30%; (iv) on income by way of net winnings from online games 30%; (v) on any other income 10%; (b) where the company is not a domestic company- (i) on income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort (other than winnings from online games) 30%; (ii) on income by way of winnings from horse races 30%; (iii) on income by way of net winnings from online games 30%; (iv) on income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in section 393(2) [Table: Sl. Nos. 2 to 5] of the said Act) 20%; (v) on income by way of royalty payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st March, 1976 where s....
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....of dividend, referred to in section 207(1) [Table: Sl. No. 2] of the said Act 10%; (xiii) on income by way of dividend other than the income referred to in item (b)(xii) 20%; (xiv) on any other income 35%; Note.-For the purposes of item 1(b)(i) of this Part, "investment income" and "non-resident Indian" shall have the meanings respectively assigned to them in section 212 of the said Act. Surcharge on income-tax The amount of income-tax deducted as per the provisions of this Part, in the case of a person as specified in column B of the Table below, shall be increased by a surcharge, for the purposes of the Union, calculated at the rate or rates as specified in column C of the said Table, of such tax. TABLE Sl.No. Person in respect of which deduction has to be made Rate of surcharge A B C 1. (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 perso....
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....able to tax under section 202 of the said Act. (i) Where the income or the aggregate of such incomes (including dividend income or capital gains under the provisions of sections 196, 197 and 198 of the said Act) paid or likely to be paid and subject to the deduction exceeds Rs. 5000000 but does not exceed Rs. 10000000, at the rate of 10%; (ii) where the income or the aggregate of such incomes (including dividend income or capital gains under the provisions of sections 196, 197 and 198 of the said Act) paid or likely to be paid and subject to the deduction exceeds Rs. 10000000 but does not exceed Rs. 20000000, at the rate of 15%; (iii) where the income or the aggregate of such incomes (excluding dividend income or capital gains under the provisions of sections 196, 197 and 198 of the said Act) paid or likely to be paid and subject to the deduction exceeds Rs. 20000000, at the rate of 25%; (iv) where the income or the aggregate of such incomes (including dividend income or capital gains under the provisions of sections 196, 197 and 198 of the said Act) paid or likely to be paid and subject to the deduction exceeds Rs. 20000000 but is not covered under clause (iii), at the....
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....ce tax" payable under Chapter XIX-C of the said Act has to be computed at the rate or rates in force, such income-tax or, as the case may be, "advance tax" [not being "advance tax" in respect of any income chargeable to tax under Part A, B, C or D of Chapter XIII or section 207 to 218, 223, 224, 307, 308, 311 or 334 of the said Act at the rates as specified in that Chapter or section or surcharge, wherever applicable, on such "advance tax" in respect of any income chargeable to tax under section 193, 194, 195, 199, 200, 201, 202, 203, 204, 206, 207, 208, 209, 210, 211, 214, 218 or 334 of the said Act] shall be charged, deducted or computed at the following rate or rates:- Paragraph A (I) In the case of every individual other than the individual referred to in items (II) and (III) of this Paragraph or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in section 2(77)(g) of the said Act, not being a case to which Paragraphs B, C, D and E of this Part applies,- Rates of income-tax (1) where the total income does not exceed Rs. 250000 Nil; (2) where the total income ex....
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....se of a domestic company,- (i) where its total turnover or the gross receipt in the tax year 2024-25 does not exceed Rs. 400 crores; 25% of the total income; (ii) other than that referred to in item (i) 30% of the total income. II. In the case of a company other than a domestic company,- (i) on so much of the total income as consists of,- (a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st March, 1961 but before the 1st April, 1976; or (b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th February, 1964 but before the 1st April, 1976, and where such agreement has, in either case, been approved by the Central Government; 50%; (ii) on the balance, if any, of the total income 35%. Paragraph F Surcharge on income-tax The amount of income-tax computed in accordance with the Paragraphs A to E, or the provisions of section 196, 197 or 198 of the said Act, in the case of person as s....
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....not exceed Rs. 100000000, at the rate of 7%; (ii) where the total income exceeds Rs. 100000000, at the rate of 12%. 4. Every firm or local authority. Where the total income exceeds Rs. 10000000, at the rate of 12%. 5. Every domestic company. (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%. 6. 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%. Further, in respect of the persons mentioned in column B of the Table 2 below, having total income exceeding the amount as specified in column C of the said Table but does not exceed the amount specified in column D thereof, the total amount payable as income-tax and surcharge thereon shall not exceed the amount determined as per the following formula:- Wa = Ua + Va where,-- Wa = the total amount beyond which the total amount payable as income-tax and surcharge thereon shall not exceed; ....
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....the rent or revenue or the cultivator or the receiver of rent-in-kind referred to in the said sub-clause (c) shall be computed as if it were income chargeable to income-tax under the said Act under the head "Income from house property" and the provisions of sections 23 to 27 of that Act shall, so far as may be, apply accordingly. Rule 4.-Irrespective of anything contained in any other provisions of these rules, in a case- (a) where the assessee derives income from sale of tea grown and manufactured by him in India, such income shall be computed as per rule 8 of the Income-tax Rules, 1962, and 60% of such income shall be regarded as the agricultural income of the assessee; (b) where the assessee derives income from sale of centrifuged latex or cenex or latex based crepes (such as pale latex crepe) or brown crepes (such as estate brown crepe, re-milled crepe, smoked blanket crepe or flat bark crepe) or technically specified block rubbers manufactured or processed by him from rubber plants grown by him in India, such income shall be computed as per rule 7A of the Income-tax Rules, 1962, and 65% of such income shall be regarded as the agricultural income of the ass....
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....section 2(2) of this Act,- (i) the loss so computed for the previous year relevant to the assessment year commencing on the 1st April, 2018, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st April, 2019 or the 1st April, 2020 or the 1st April, 2021 or the 1st April, 2022 or the 1st April, 2023 or the 1st April, 2024, or the 1st April, 2025; (ii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st April, 2019, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st April, 2020 or the 1st April, 2021 or the 1st April, 2022 or the 1st April, 2023 or the 1st April, 2024, or the 1st April, 2025; (iii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st April, 2020, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st April, 2021 or the 1st April, 2022....
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....021) or the First Schedule to the Finance Act, 2022 (6 of 2022) or the First Schedule to the Finance Act, 2023 (8 of 2023) or the First Schedule to the Finance (No. 2) Act, 2024 (15 of 2024) or the First Schedule to the Finance Act, 2025 (7 of 2025) shall be set off under sub-rule (1). Rule 9.-Where the net result of the computation made as per these rules is a loss, the loss so computed shall be ignored and the net agricultural income shall be deemed to be nil. Rule 10.-The provisions of the said Act relating to procedure for assessment (including the provisions of section 288A relating to rounding off of income) shall, with the necessary modifications, apply in relation to the computation of the net agricultural income of the assessee as they apply in relation to the assessment of the total income. Rule 11.-For the purposes of computing the net agricultural income of the assessee, the Assessing Officer shall have the same powers as he has under the said Act for the purposes of assessment of the total income. B.--UNDER THE INCOME-TAX ACT, 2025 [See section 3(18)(c)] Rule 1.-(1) Agricultural income of the nature referred to in section 2(5)(a) of the Income-tax Act....
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....ers manufactured or processed by him from rubber plants grown by him in India, such income shall be computed as per rules notified for the purposes of the said Act, and 65% of such income shall be regarded as the agricultural income of the assessee; (c) where the assessee derives income from sale of coffee grown and manufactured by him in India, such income shall be computed as per rules notified for the purposes of the said Act, and 60% or 75%, as the case may be, of such income shall be regarded as the agricultural income of the assessee. Rule 5.-Where the assessee is a member of an association of persons or a body of individuals (other than a Hindu undivided family, a company or a firm) which in the tax year has either no income chargeable to tax under the said Act or has total income not exceeding the maximum amount not chargeable to tax in the case of an association of persons or a body of individuals (other than a Hindu undivided family, a company or a firm) but has any agricultural income then, the agricultural income or loss of the association or body shall be computed in accordance with these rules and the share of the assessee in the agricultural income or los....
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....et off against the agricultural income for the tax year commencing on the 1st April, 2021 or the 1st April, 2022 or the 1st April, 2023 or the 1st April, 2024, or the 1st April, 2025; (iv) the loss so computed for the tax year commencing on the 1st April, 2021, to the extent, if any, such loss has not been set off against the agricultural income for the tax year commencing on the 1st April, 2022 or the 1st April, 2023 or the 1st April, 2024, or the 1st April, 2025; (v) the loss so computed for the tax year commencing on the 1st April, 2022, to the extent, if any, such loss has not been set off against the agricultural income for the tax year commencing on the 1st April, 2023 or the 1st April, 2024, or the 1st April, 2025; (vi) the loss so computed for the tax year commencing on the 1st April, 2023, to the extent, if any, such loss has not been set off against the agricultural income for the tax year commencing on the 1st April, 2024, or the 1st April, 2025; (vii) the loss so computed for the tax year commencing on the 1st April, 2024, to the extent, if any, such loss has not been set off against the agricultural income for the tax year commencing....