TMI BlogTHE FIRST SCHEDULE - RATES OF INCOME-TAXX X X X Extracts X X X X X X X X Extracts X X X X ..... ncome-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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rative society,- Rates of income-tax (1) where the total 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shold limit, and the amount of income-tax shall be determined 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sports association or institution On income by way of guarantee money in relation to any game (other than a game the winnings wherefrom are taxable sub-item (b) of item 4) or sports played in India. 10 per cent (4) Any assessee Income by way of winnings from 30 per cent (i) any lottery or crossword puzzle; (ii) race, including horse race (not being the income from the activity of owning and maintaining race horses); or (iii) card game or any other game or gambling or betting. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementind ..... X X X X Extracts X X X X X X X X Extracts X X X X
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