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[Cites 0, Cited by 0] [Section 2(8)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(8)(a) in The Finance Act, 2023

(a)in the case of every individual or Hindu undivided family or association of persons, except in case of an association of persons consisting of only companies as its members, or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-taxAct, being a non-resident, calculated,—
(i)at the rate of ten per cent. of such tax, where the amount or the aggregate of such amounts collected or likely to be collected and subject to the collection exceeds fifty lakh rupees but does not exceed one crore rupees;
(ii)at the rate of fifteen per cent. of such tax, where the amount or the aggregate of such amounts collected or likely to be collected and subject to the collection exceeds one crore rupees but does not exceed two crore rupees;
(iii)at the rate of twenty-five per cent. of such tax, where the income or the aggregate of such amounts collected or likely to be collected and subject to the collection exceeds two crore rupees but does not exceed five crore rupees;
(iv)at the rate of thirty-seven per cent. of such tax, where the income or the aggregate of such amounts collected or likely to be collected and subject to the collection exceeds five crore rupees:
Provided that where the income of such person is chargeable to tax under sub-section (1A) of section 115BAC of the Income-taxAct, the rate of surcharge shall not exceed twenty-five per cent.;