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Schedule-02 - RATES OF OTHER TAXES - Direct Taxes Code, 2010Extract THE SECOND SCHEDULE [See Sections 104(1), (6), 109(2), 110(3), 111(2), 112(2), 230(11) and 314(225)] RATES OF OTHER TAXES A.—Tax on book profit 1. The income-tax referred to in sub-section (1) of section 103 shall be calculated at the rate specified hereunder:— Rate of tax On the amount of book profit 20 per cent. B.—Tax on distributed profits of a domestic company 2. The tax referred to in sub-section (2) of section 109 shall be calculated at the rate specified hereunder:— Rate of tax On the amount of dividend declared, distributed or paid by a domestic company 15 per cent. C.—Tax on distributed income 3. The tax referred to in sub-section (3) of section 110 shall be calculated at the rates specified hereunder:— Rates of tax On the amount of income distributed by (i) a mutual fund to the unit holders of equity oriented fund; or 05 per cent. (ii) life insurer to the policy holders of an approved equity oriented life insurance scheme 05 per cent. D.—Tax on branch profits 4. The tax referred to in sub-section (2) of section 111 shall be calculated at the rate specified hereunder:— Rate of tax On the branch profits 15 per cent. E.—Tax on net wealth 5. The tax referred to in sub-section (2) of section 112 shall be calculated at the rates specified and in the manner provided hereunder:— Rate of tax (1) where the net wealth as on the valuation date does not exceed one crore rupees NIL (2) where the net wealth, as on the valuation date exceeds rupees one crore 1 per cent. of the amount by which the net wealth exceeds one corore rupees
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