tax rates

TDS Rate Chart for AY 2020-21 / FY 2019-20

Income Tax - The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. Various TDS rates on various incomes have been prescribed under the Income-tax Act. This write up […]...

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Income Tax Rates for AY 2020-21 / FY 2019-20

Income Tax - Different tax rates have been provided for various categories of taxpayers and for different sources of income. Individuals/HUFs/AOP/BOI are taxed as per the different slab rates. However, companies are taxed at fixed rate, except for certain specified incomes. This write-up will provide you the information on Income Tax tax rates applica...

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Income Tax Rates for Financial Year 2019-20

Income Tax - In this Article we updates about the normal Income tax rates applicable to different types of taxpayers for Financial Year 2019-20 . The Income tax rates discussed in this part are applicable for assessment year 2020-21 i.e. financial year 2019-20. In this part you can gain knowledge about the normal Income Tax tax rates applicable [&hell...

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Income tax slabs for Individuals for FY 2019-20 (AY 2020-21)

Income Tax - The Interim Finance Minister Shri Piyush Goyal Presented the interim budget on February 01, 2019 in Lok Sabha on which he told about the various amendments in Income Tax Act 1961 through Finance Bill 2019. The Main relief to individual taxpayers is Rebate u/s 87A of Income Tax Act which increased the limit of rebate […]...

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Income Tax Rates for AY 2019-20 / FY 2018-19

Income Tax - This Article Contains Income Tax Rate / Income Tax Chart/ Income Tax Slab as applicable for Financial Year (FY) 2018-19 or Assessment Year 2019-20 (AY) to Individual (resident or non-resident) or HUF or Association of Person (AOP) or Body of Individual (BOI) or any other artificial juridical person, Partnership Firm, LLP, Local Authority,...

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CBIC issues 28 Notification Related to GST Rates on Goods & Services

Income Tax - CBIC issues 28 Notification Related to GST Rates on Goods & Services on 26th July 2018 which are effective from 27th July 2018. Notifications include Notification No. 2/2018-Compensation Cess (Rate), Notification No. 13 to 21/2018-Central Tax (Rate), Notification No. 14 to 22/2018-Integrated Tax (Rate) and Notification No. 13 to 21/20...

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Quick Review on 28th GST Council meeting updates

Income Tax - Quick note on 28th GST Council meeting, which has reviewed around 46 proposed amendments in GST Act 2017 and recommended the following amendments ;...

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List of Changes in GST Rate on Goods in 28th GST Council Meeting

Income Tax - GST Council Recommends GST Rates Reduction on Several Goods & for specified handicraft items GST rates have been recommended to be brought down to Nil on Sanitary Napkins & Rakhi & more Goods GST Council recommends for allowing refund to fabrics on account of inverted duty structure Rate change made in respect of footwear The ...

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GST rate on Services- 27 Major Changes in 28th GST Council meeting

Income Tax - The GST Council in its 28th meeting took decisions relating to exemptions / changes in GST rates / ITC eligibility criteria, rationalization of rates / exemptions and clarification on levy of GST on services....

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GST Council recommends Change in GST Rates on 40 Type of Goods

Income Tax - LIST OF GOODS FOR CHANGE IN GST RATE RECOMMENDED BY GST COUNCIL IN ITS 21st MEETING HELD ON 9TH SEPTEMBER, 2017 1. The GST Council has recommended changes in the GST rates on the following goods: S. No. HSN Description Present GST Rate Recommended GST rate 1. 0802 Walnuts, whether or not shelled 12% 5% […]...

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Short term capital losses subject to STT can be set off against Short term capital gains not subject to STT

First State Investments (Hongkong) Ltd. [A/C First State Asia Innovation & Technology Fund] Vs. ADIT (ITAT Delhi) - The Finance Act, 2004 introduced section 111A in the Income-tax Act, 1961 (the Act) prescribing a tax rate of 10 percent on Short Term Capital Gains (STCG) arising from sale of shares on or after 1 October 2004 on a stock exchange which are subject to Securities Transaction Tax (STT)....

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If there is no revenue loss then department should not question the year of allowability of expenses

Commissioner Of Income Tax Vs M/s Vishnu Industrial Gases P. Ltd. (Delhi High Court) - CIT vs. Vishnu Industrial Gases (Delhi High Court) - Where the department had not disputed that the expenditure was deductible in principle but was only disputing the year in which the deduction could be allowed HELD, castigating the department, that as the tax rates were the same in both years, the...

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Concessional CGST rate on specified handicraft items WEF 27.07.2018

Notification No. 21/2018-Central Tax (Rate) [G.S.R. 695(E)] - (26/07/2018) - CBIC notifies concessional CGST rate on specified handicraft items vide Notification No. 21/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018 to give effect to recommendations of 28th GST Council meeting which was held on 21.07.2018....

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CBIC allows Refund of GST credit to fabric manufacturers

Notification No. 20/2018-Central Tax (Rate) [G.S.R. 694(E)] - (26/07/2018) - CBIC allows Refund of accumulated credit on account of inverted duty structure to fabric manufacturers vide Notification No. 20/2018-Central Tax (Rate), Dated: 26th July, 2018. ...

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Changes in List of goods exempt from CGST wef 27.07.2018

Notification No. 19/2018-Central Tax (Rate) [G.S.R. 693(E)] - (26/07/2018) - CBIC amends list of goods exempt from GST vide Notification No. 19/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018 to give effect to recommendations of 28th GST Council meeting which was held on 21.07.2018....

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Revised CGST rates on various Goods WEF 27th July, 2018

Notification No. 18/2018-Central Tax (Rate) [G.S.R. 692(E)] - (26/07/2018) - CBIC notifies reduced GST Rates on Several Goods vide Notification No. 18/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018....

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Composite supply of works contract to Govt- Term ‘Business’ clarified

Notification No. 17/2018-Central Tax (Rate) [G.S.R. 681(E)] - (26/07/2018) - CBIC inserts following explanation in notification No. 11/2017 – Central Tax (Rate) in Table, against serial number 3 (Related to Composite supply of works contract to Government) , in column (3), in item (vi)- For the purposes of this item, the term 'business' shall not include any activity or...

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Recent Posts in "tax rates"

TDS Rate Chart for AY 2020-21 / FY 2019-20

The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. Various TDS rates on various incomes have been prescribed under the Income-tax Act. This write up […]...

Read More
Posted Under: Income Tax |

Income Tax Rates for AY 2020-21 / FY 2019-20

Different tax rates have been provided for various categories of taxpayers and for different sources of income. Individuals/HUFs/AOP/BOI are taxed as per the different slab rates. However, companies are taxed at fixed rate, except for certain specified incomes. This write-up will provide you the information on Income Tax tax rates applica...

Read More

Income Tax Rates for Financial Year 2019-20

In this Article we updates about the normal Income tax rates applicable to different types of taxpayers for Financial Year 2019-20 . The Income tax rates discussed in this part are applicable for assessment year 2020-21 i.e. financial year 2019-20. In this part you can gain knowledge about the normal Income Tax tax rates applicable [&hell...

Read More
Posted Under: Income Tax |

Income tax slabs for Individuals for FY 2019-20 (AY 2020-21)

The Interim Finance Minister Shri Piyush Goyal Presented the interim budget on February 01, 2019 in Lok Sabha on which he told about the various amendments in Income Tax Act 1961 through Finance Bill 2019. The Main relief to individual taxpayers is Rebate u/s 87A of Income Tax Act which increased the limit of rebate […]...

Read More

CBIC issues 28 Notification Related to GST Rates on Goods & Services

CBIC issues 28 Notification Related to GST Rates on Goods & Services on 26th July 2018 which are effective from 27th July 2018. Notifications include Notification No. 2/2018-Compensation Cess (Rate), Notification No. 13 to 21/2018-Central Tax (Rate), Notification No. 14 to 22/2018-Integrated Tax (Rate) and Notification No. 13 to 21/20...

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Posted Under: Income Tax |

Concessional CGST rate on specified handicraft items WEF 27.07.2018

Notification No. 21/2018-Central Tax (Rate) [G.S.R. 695(E)] (26/07/2018)

CBIC notifies concessional CGST rate on specified handicraft items vide Notification No. 21/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018 to give effect to recommendations of 28th GST Council meeting which was held on 21.07.2018....

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CBIC allows Refund of GST credit to fabric manufacturers

Notification No. 20/2018-Central Tax (Rate) [G.S.R. 694(E)] (26/07/2018)

CBIC allows Refund of accumulated credit on account of inverted duty structure to fabric manufacturers vide Notification No. 20/2018-Central Tax (Rate), Dated: 26th July, 2018. ...

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Changes in List of goods exempt from CGST wef 27.07.2018

Notification No. 19/2018-Central Tax (Rate) [G.S.R. 693(E)] (26/07/2018)

CBIC amends list of goods exempt from GST vide Notification No. 19/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018 to give effect to recommendations of 28th GST Council meeting which was held on 21.07.2018....

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Revised CGST rates on various Goods WEF 27th July, 2018

Notification No. 18/2018-Central Tax (Rate) [G.S.R. 692(E)] (26/07/2018)

CBIC notifies reduced GST Rates on Several Goods vide Notification No. 18/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018....

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Composite supply of works contract to Govt- Term ‘Business’ clarified

Notification No. 17/2018-Central Tax (Rate) [G.S.R. 681(E)] (26/07/2018)

CBIC inserts following explanation in notification No. 11/2017 – Central Tax (Rate) in Table, against serial number 3 (Related to Composite supply of works contract to Government) , in column (3), in item (vi)- For the purposes of this item, the term 'business' shall not include any activity or transaction undertaken by the Central G...

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