2. (1) Subject to the provisions of sub-sections (2) and (three), for the evaluation yr commencing at the 1st day of April, 2019, income-tax will be charged at the prices specified in Part I of the First Schedule and such tax shall be multiplied with the aid of a surcharge, for the functions of the Union, calculated in each case inside the way furnished therein.

(2) In the instances to which Paragraph A of Part I of the First Schedule applies, where the assessee has, within the preceding 12 months, any internet agricultural income exceeding 5 thousand rupees, further to general income, and the entire income exceeds two lakh fifty thousand rupees, then,— (a) the internet agricultural profits shall be taken under consideration, within the manner provided in clause (b)

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[that is to say, as if the net agricultural income were comprised in the total income after the first two lakh fifty thousand rupees of the total income but without being liable to tax], simplest for the reason of charging earnings-tax in admire of the entire profits; and (b) the income-tax chargeable shall be calculated as follows:—

(i) the entire profits and the internet agricultural income shall be aggregated and the quantity of income-tax shall be decided in appreciate of the aggregate earnings on the quotes particular in the said Paragraph A as if such aggregate earnings have been the whole income;

(ii) the internet agricultural earnings will be accelerated by means of a sum of two lakh fifty thousand rupees, and the quantity of profits-tax will be decided in recognize of the internet agricultural earnings as so increased at the rates specified within the said Paragraph A, as though the net agricultural earnings as so improved had been the overall income;

(iii) the quantity of income-tax decided in accordance with sub-clause (i) will be reduced via the amount of income-tax determined in accordance with sub-clause (ii) and the sum so arrived at will be the earnings-tax in recognize of the whole income:

Provided that within the case of every man or woman, being a resident in India, who’s of the age of sixty years or greater but much less than eighty years at any time during the previous 12 months, mentioned in item (II) of Paragraph A of Part I of the First Schedule, the provisions of this subsection shall have effect as though for the phrases “ lakh fifty thousand rupees”, the phrases “3 lakh rupees” had been substituted:

Provided further that within the case of each character, being a resident in India, who’s of the age of eighty years or greater at any time for the duration of the previous year, mentioned in item (III) of Paragraph A of Part I of the First Schedule, the provisions of this subsection shall have impact as if for the phrases “ lakh fifty thousand rupees”, the phrases “5 lakh rupees” had been substituted.

(three) In instances to which the provisions of Chapter XII or Chapter XII-A or segment 115JB or phase 115JC or Chapter XII-FA or Chapter XII-FB or sub-segment (1A) of segment 161 or phase 164 or segment 164A or segment 167B of the Income-tax Act, 1961 (hereinafter called the Income-tax Act) apply, the tax chargeable will be decided as supplied in that Chapter or that section, and close to the costs imposed by sub-phase (1) or the prices as laid out in that Chapter or phase,

as the case may be:

Provided that the amount of income-tax computed according with the provisions of segment 111A or section 112 or section 112A of the Income-tax Act shall be expanded by using a surcharge, for the purposes of the Union, as provided in Paragraph A, B, C, D or E, because the case may be, of Part I of the First Schedule:

Provided in addition that in appreciate of any profits chargeable to tax underneath phase 115A, 115AB, 115AC, 115ACA, 115AD, 115B, 115BA, 115BB, 115BBA, 115BBC, 115BBD, 115BBDA, 115BBF, 115BBG, 115E, 115JB or 115JC of the Income-tax Act, the quantity of earnings-tax computed under this sub-segment will be increased by means of a surcharge, for the purposes of the Union, calculated,—

(a) in the case of each man or woman or Hindu undivided circle of relatives or association of persons or frame of people, whether integrated or not, or each synthetic juridical man or woman referred to in sub-clause (vii) of clause (31) of segment 2 of the Income-tax Act,—

(i) having complete earnings exceeding fifty lakh rupees but no longer exceeding one crore rupees, at the price often in line with cent. Of such earnings-tax; and (ii) having a total profit exceeding one crore rupees, on the charge of fifteen in line with cent. Of such

earnings-tax;

(b) in the case of every co-operative society or firm or a nearby authority, on the rate of twelve percent. Of such earnings-tax, in which the full profits exceeds one crore rupees;

(c) in the case of each domestic agency,—

(i) on the charge of seven in keeping with cent. Of such profits-tax, where the full income exceeds one crore rupees but does no longer exceed ten crore rupees;

(ii) on the fee of twelve percent. Of such earnings-tax, where the total earnings exceed ten crore rupees;

(d) inside the case of every company, aside from a home company,—

(i) on the charge of in keeping with cent. Of such profits-tax, where the total earnings exceed one crore rupees however does now not exceed ten crore rupees;

(ii) on the fee of five according to the cent. Of such profits-tax, where the total profits exceed ten crore rupees: