Telecom Regulatory Authority of India Act,1997
Act No : 24
Section :
PART III RATES FOR CALCULATING OR CHARGING INCOME-TAX IN CERTAIN CASES, DEDUCTING INCOME-TAX FROM INCOME CHARGEABLE UNDER THE HEAD "SALARIES" AND COMPUTING "ADVANCE TAX" In cases in which income-tax to be calculated under the first proviso to sub-section (5) of section 132 of the Income-tax Act or charged under sub-section (4) of section 172 or sub-section (2) of section 174 or section 175 or sub-section (2) of section 176 of the said act or deducted under section 192 of the said Act from income chargeable under the head "salaries" or in which the "advance tax" payable under Chapter XVII-C of the said act has to be computed at the rate or rates in force, such income-tax, or as the case may be, "advance tax" [not being "advance tax" in respect of any income chargeable to tax under Chapter XII or Chapter XII-A or sub-section (1A) of section 161 or section 164 or section 164A or section 167B of the Income-tax Act at the rates as specified in that Chapter or section]. shall be calculated, charged, deducted or computed at the following rate or rates:- Paragraph A In the case of every individual or Hindu undivided family or association of persons or body of individuals, where incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income- tax Act, not being a case to which any other Paragraph of this Part applied,- Rates of income-tax (1) Where the total income does not exceed Rs, 40.000 Nil; (2) where the total income exceeds 10 per cent. of Rs. 40,000 but does not exceed Rs. the amount by 60,000 which the total income exceeds (3) where the total income exceeds Rs. 2,000 plus 20 Rs. 60,000 does not exceed Rs, 1,50,000 per cent. of the amount by which the total income exceeds Rs. 60,000 (4) where the total income exceeds Rs. 1,50,000 Rs. 20,000 plus 30 per cent. of the amount by which the total income exceeds Rs. 1,50,000. Paragraph B In the case of every co-operative society,- Rates of income-tax (1) where the total income does 10 per cent. of not exceed Rs. 10,000 the total income; (2) where the total income exceeds Rs. 10,000 but does not exceed Rs. Rs. 1,000 plus 20,000 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 35 per cent. of the amount by which the total income exceeds Rs. 20,000 Paragraph C In the case of every firm,- Rate of income-tax On the whole of the total income 35 per cent Paragraph D In the case of every local authority,- Rate of Income-tax On the whole of the total income 30 per cent. Paragraph E 1. in the case of domestic company 35 per cent. of the total income; II In the case of a company other than a domestic company- (i) on so much of the total income as consists of- (a) royalties received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March, 1961 but before the 1st day of April,1976. or (b) fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 29th day of February, 1964 but before the 1st day of April, 1976. and where such agreement has, in either case, been 50 per cent.; (ii) on the balance, if any, of the total income 48 per cent.
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