In the case of firms, the rate of income-tax has been specified in Paragraph C of Part I of the First Schedule to the Bill. They remain unchanged at 30%.
Firm tax rate unchanged under Finance Bill, maintaining existing income-tax treatment for partnership entities provision.
Firm taxation for assessment year 2025-26 is governed by the rate specified in Paragraph C of Part I of the First Schedule to the Finance Bill; the statutory rate for firms remains 30%, preserving the existing income-tax treatment of partnership firms as the operative rate for computing liabilities.
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