Income Tax Rates - Page 2

Income Tax Rates for A.Y. 2021-22 (Company, Co-Op Society & Local Authority)

Income Tax Rates for A.Y. 2021-22 or Financial Year 2020-21 (For Company, Co-Operative Society and Local Authority) (A) COMPANY- The tax rates as applicable are as under Domestic Company Rate of Income tax [A] Company if its total turnover or gross receipt during the previous year 2018-19 does not exceed Rs. 400 crore 25% [B] […]...

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Income Tax Rates For Assessment Year 2021-22/Financial Year 2020-21

Income Tax Rates For Assessment Year (AY) 2021-22/Financial Year (FY)  2020-21 as applicable to Individual (Below 60 Years of Age) or Hindu Undivided Family (HUF), For Individual (Age 60 years or more but less than 80 Years, For Individual (Age 80 years or above at any time during the previous year), For AOP/BOI (other than […]...

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Income Tax Calculator – Financial Year 2021-22

On March 31, 2021, the Ministry of Finance released a notification on slashing the interest rates of all the Small Saving Schemes, and the same notification rolled back by the Ministry on April 1, 2021, by terming that the Order is issued by oversight! Whether it is a correction of an oversight error or a […]...

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Old Vs New Income Tax Regime – Which one to opt for?

The Budget 2020 introduced a new tax regime under section 115BAC giving an option to Individuals and HUF Taxpayers to pay income tax at lower rates. The new scheme is applicable for income earned for FY 2020-21 (AY 2021-22). The Ministry of Finance has removed around 70 tax deductions & exemptions while proposing the new […]...

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Income Tax Rates for FY 2020-21 & FY 2021-22

Rates of Income Tax for Financial year (FY) 2020-21 i.e. Assessment Year (AY) 2021-22 and FY 2021-22 (AY 2022-23) applicable to various categories of persons viz. Individuals, Firms, companies etc. Introduction This article summarizes Tax Rates, Surcharge, Health & Education Cess, Special rates, and rebate/relief applicable to various...

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Income tax Rates for assessment year 2022-23

Rates of income-tax in respect of income liable to tax for the assessment year 2022-23 i.e. Financial Year 2021-22 The rates for deduction of income-tax at source from ‘Salaries’ or under section 194P of the Act during the FY 2021-22 and also for computation of ‘advance tax’ payable during the said year in the case...

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Income tax Rates for assessment year 2021-22

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 income of all categories of assessee liable to tax for the assessment year 2021-22, the rates of income-tax have either been specified in specific sections (like section 115BAA or section 115BAB for domestic [&h...

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New tax regime vs old tax regime under Income Tax

New Tax regime vs Old Tax Regime: Till now i am writing Articles related to GST but today one of my friend asked me – Should I opt for New Scheme or Old Scheme for A.Y 2021-22 ?? So today I will discuss very interesting topic – New Tax regime vs Old tax regime– Answer […]...

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Remove your confusions regarding ‘New Income Tax Regime’

You all know that a ‘New Tax Regime’ has been introduced from FY 2020-21 that says individual can reduce their taxes if they are not availing deductions or exemptions. You are provided an option where you can either go for the old tax structure or choose the new tax structure. Now the people are confused […]...

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Residential Status of Individual And Rate of Income Tax

RESIDENTIAL STATUS OF INDIVIDUAL AND INCOME TAX RATE OF INDIVIDUAL. RESIDENTIAL STATUS OF INDIVIDUAL The Residential Status of a Individual / HUF earning income is very much relevant for determining the tax liability of such income in his/her hands. Taxability of any Income depends on the two things, i.e. Residential Status of Individual ...

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