Income Tax : Tax on dividends, interest, royalties and FTS earned by non-residents is governed by the more beneficial rate under the Income-tax...
Income Tax : The document explains tax rates applicable to individuals, HUFs, firms, companies, co-operative societies, foreign companies, and ...
Income Tax : The Finance Bill, 2026 continues the same tax slabs and rates as the previous year. Individuals, companies and other entities see ...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Earning ₹15 lakh? Know how new tax slabs work and why ₹12 lakh exemption doesn’t apply. Learn about rebates, slab-wise taxat...
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 : The Finance Bill 2025 projects a 12.65% rise in income tax collections despite tax cuts, with estimated receipts of ₹25.20 lakh ...
Income Tax : The Finance Bill 2025 revises tax slabs, reducing the burden on middle-class taxpayers. The changes aim to boost savings and consu...
Income Tax : Union Budget 2025-26 introduces tax relief with no income tax up to Rs. 12 lakh, benefiting middle-class taxpayers and boosting co...
Income Tax : Union Budget 2025 expectations include tax relief, GST reforms, R&D support, and measures for MSMEs. Common demands focus on easin...
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 : CBDT issues Income Tax Circular 06/2022 | Dated: 17th March, 2022 to condone the default in filing Form 10-IC to avail lower tax r...
Income Tax : Circular 29/2019 – Clarifications on set off of brought forward loss due to additional depreciation & MAT credit if comp...
Goods and Services Tax : CBIC notifies concessional CGST rate on specified handicraft items vide Notification No. 21/2018-Central Tax (Rate), Dated: 26th J...
Goods and Services Tax : CBIC allows Refund of accumulated credit on account of inverted duty structure to fabric manufacturers vide Notification No. 20/20...
Goods and Services Tax : CBIC amends list of goods exempt from GST vide Notification No. 19/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect fr...
The Central Board of Direct Taxes (CBDT) vide Circular No. 8/2020 dated April 13,2020 has clarified that an employer will have to deduct TDS for FY 2020-21, from an employee’s salary on the basis of the tax regime chosen by the employee else by default TDS would be deducted as per Old Tax Regime Rates. The Union […]
Should you opt for the new tax rate? Understand the pros and cons before making a decision. Learn about the reduced tax rates and the exemptions you may have to forgo.
As we all now Finance Act 2020 has introduced a New Slab rate for Individuals from Current Financial Year Which has created a lot of confusion regarding which tax regime will be best for us. Let’s discuss the new tax regime and comparative analysis to resolve the confusion Applicability Salaried employees, having no business income, […]
New Income Tax Regime or Old Regime: What should a Salaried Taxpayer choose? The Union budget presented in the Parliament in February 2020, the Finance Minister proposed a New Tax Regime as an alternative to the existing Old Tax Regime for Individual and HUFs. Since the New Tax Regime is optional by all means, a […]
New Income Tax Regime Vs Old Income Tax Regime The Finance Minister introduced several proposals in relation to the personal tax regime in the Union Budget 2020 presented in the parliament on February 1, 2020. The Budget 2020 introduced a new income tax regime for individual taxpayers. Bringing a revolutionary change in direct tax rates, […]
The Finance Minister introduced several proposals in relation to the personal tax regime in the Union Budget 2020 presented in the parliament on February 1, 2020. The Budget 2020 introduced a new income tax regime for individual taxpayers. Bringing a revolutionary change in direct tax rates, Finance Minister Nirmala Sitharaman has proposed a new tax […]
Finance Act 2020, has recently introduced new concessional personal tax regime, (New tax regime), by inserting Section 115BAC with effect from Financial year 2019-20.
The Union Budget 2020 has simplified taxation for taxpayers by proposing a brand new, “simplified” tax regime. The new tax regime lowers the tax rates for individual taxpayers. However, there’s a condition: they need to forego tax deductions and exemptions to avail the enticing lower rates. Several queries arises during making of choice of previous […]
Simple TDS Rate Chart for Financial Year 2020-21 – Applicable from 14th May 2020 Kindly Note amended rates are been given on the basis of PIB Notification dated 13.05.2020 and on the date of Publication of this post no notification in this regard is been notified by the CBDT. Press release can be accessed at […]
COMPARISON OF NEW INCOME TAX REGIME WITH OLD REGIME The Budget 2020 introduced new income tax regime for individual taxpayers. However, the option for such concessional tax regime requires the taxpayer to forgo certain specific deductions. The taxpayer has to forgo standard deduction of Rs 50000, deduction under 80C of Rs 1.5lakh and interest on […]
