TMI BlogRates for deduction of income-tax at source during the financial year (FY) 2020-21 from certain incomes other than “Salaries”.X X X X Extracts X X X X X X X X Extracts X X X X ..... rates for deduction of income-tax at source during the FY 2020-21 from certain incomes other than Salaries have been specified in Part II of the First Schedule to the Bill. The rates for all the categories of persons will remain the same as those specified in Part II of the First Schedule to the Finance (No 2) Act, 2019, for the purposes of deduction of income-tax at source during the FY 2019-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds fifty lakh rupees but does not exceed one crore rupees; (ii) at the rate of fifteen per cent. of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees but does not exceed two crore rupees; (iii) at the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees but does not exceed ten crore rupees; (ii) at the rate of five per cent. of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds ten crore rupees. No surcharge will be levied on dedu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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