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Tuesday, July 29, 2014

BUDGET 2014 - 15: Income Tax Rates For Local Authorities

Income Tax Rates For Local Authorities

(1) Local Authorities are taxable at 30%.

(2) A 10% surcharge is applicable if the total income exceeds INR10,000,000. Marginal relief available


(3) A 3% education cess is applicable on income-tax (inclusive of surcharge, if any).

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