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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 ..... l 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 the financial year,— Rates of income-tax (1) where the total income does not exceed Rs. 1,90,000 Nil; (2) where the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 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 15 per cent Paragraph D In the case of every unincorporated body,- Rate of income-tax On the whole of the total income 30 per cent Paragraph E In the case of every local authority,- Rate of income-tax On the whole of the total income 30 per cent Paragraph F In the case of a company,- Rates of income-tax On the whole of the total income 25 per cent of the total income; (2) In the cases to which Paragraph A of rule 1 applies, where th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cludes 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 the aggregate of- (a) the amount calculated at the rate specified in the corresponding entry in column 4 of the said Table on the income specified in the corresponding entry in column 3; and (b) the amount of income tax calculated in accordance with the provisions of rule 1 and rule 2 in respect of the balance of his total income, that is, the 'total income from ordinary sources'. Table Sl. No. Person Nature of Income Rate of tax (1) (2) (3) (4) (1) Non-resident (a) On investment income by way of - (i) Interest 20 per cent (ii) dividends on which distribution tax has not been paid. 20 p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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