Income Tax : The article compares old and new income tax regimes for FY 2025-26 and explains how deductions affect final tax liability. It high...
Income Tax : The law consolidates earlier TCS provisions under a new section without changing rates. The key takeaway is the need to update com...
Income Tax : Detailed overview of corporate tax rates, surcharges, and MAT for AY 2021-22 to AY 2025-26, applicable for various domestic and ma...
Income Tax : This report provides a consolidated overview of the critical monetary threshold limits stipulated under various sections of the In...
Income Tax : Detailed comparison of dividend, interest, royalty, and FTS withholding tax rates between India's Income-tax Act and over 60 Doubl...
Income Tax : The Government outlined a phased reduction in corporate tax rates with parallel withdrawal of exemptions. The key takeaway is a sh...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : MAJOR ANNOUNCEMENTS IN PERSONAL INCOME TAX TO SUBSTANTIALLY BENEFIT THE MIDDLE CLASS PERSONS WITH INCOME UP TO RS. 7 LAKH WILL NOT...
Income Tax : India has progressive direct taxation system wherein an individual or Hindu undivided family (HUF) or an association of person or ...
Income Tax : Rates of income-tax in respect of income liable to tax for the assessment year 2021-22 i.e. Financial Year 2020-21 In respect of i...
Income Tax : Higher rate of tax was prescribed in section 115BBE through an amendment made vide Taxation Laws (Second Amendment) Act, 2016 and ...
Income Tax : The issue under consideration is whether AOP is liable to tax at MMR if income of its members during relevant year exceeded basic ...
Income Tax : CBDT notifies forms for exercising option u/s 115BAA and 115BAB – Notification No. 10/2020, dated 12-02-2020 Section 115BAA deal...
Income Tax : In order to encourage investment in the capital market, it has been decided to withdraw the enhanced surcharge levied by Finance (...
Article covers the following union Budget 2019 Changes related to Transfer Pricing, Taxation of Individuals and Changes in Income Tax Rates which includes changes in Section 92D: Clarification to keep, maintain and furnishing of information and documents by Constituent Entity, Section 92CE: Clarification regarding provisions of Secondary Adjustment, Section 92CD: Effect to Advance Pricing Agreement, […]
Will the new Finance Minister cut tax rate for large companies from the current 30 per cent to 25 per cent in the budget 2019 The first full time woman Finance Minister (FM) will present her maiden budget on 5th of July, 2019. All the people of the country look forward to the FM as a […]
Understanding income tax rates in India: Learn about the concept of marginal relief and the inconsistency in the provisions of the Income-tax Act, 1961.
This compliance book aims at helping and providing practical solutions and day to day compliance requirements to professionals, entrepreneurs and all small to large businesses as it has summarized provisions, charts and important notes with tables which can be easily understood. Compliance Hand Book contains the following- Income Tax- Income Tax Rates, TDS Rate Chart, […]
Understand TDS calculation & deduction on salary for FY 2018-19. Learn how employers estimate taxable income & deduct tax at source to prevent tax evasion.
It Contains Provisions in brief related to Return Due Date u/sec 139(1), Important Prescribed Forms under Income Tax Rules 1962, Current Rates for the Tax Deduction at Source, Provisions related to Cash loan/Deposit, Section 40(b):- Remuneration to Partner Business / Profession, Provision related to Cash Payment U/s. 40A(3), Tax Audit Provisions, Carry Forward & Set-off […]
At the outset, it is very important to address a common interpretation mistake made by most of us regarding the increase in slab rate of income tax. In the speech the finance minister have clearly mentioned that there is no change in the Slab rate of Income tax but still 100% tax rebate is granted upto income of Rs. 5 Lac. Thus, it means that the slab rate is the same instead the rebate allowed has been increased from Rs. 2,500 to Rs. 12,500.
We know that in Finance Bill 2019 tax rate for FY 2019-20 for individuals / HUF has not been changed except the fact that rebate u/s 87A has revised to Rs 12,500 if Total Income is upto Rs 5,00,000 (previously it was Rs 2500 if total Income is upto Rs 3,50,000). Tax rates for Individuals […]
Announcing the Interim Budget, acting finance minister Piyush Goyal on Friday proposed that individuals earning up to Rs 5 lakh would get a full tax rebate u/s 87A. This will provide tax saving of up to Rs 12,500 for all taxpayers in this bracket. Those who save more can effectively push this rebate up to an […]
FICCI Recommends Cut in Corporate Tax Rate, Revision of It Slabs For Individual Taxpayers in Budget 2019-20 NEW DELHI, 13 January 2019: FICCI in its Pre-Budget recommendations for 2019-20 has suggested reduction in the corporate tax rate across the board to 25% (irrespective of turnover) to spur economic growth and increase overall tax collections. The […]
