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 applicable withholding tax depends on the Income-tax Act or the relevant DTAA, whichever is more beneficial. Treaty rates diff...
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 : Analysis of Indian income tax rates for AY 2025-26 & 2026-27. Covers the Old vs. Default 115BAC regimes, corporate tax concessions...
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 : MAJOR ANNOUNCEMENTS IN PERSONAL INCOME TAX TO SUBSTANTIALLY BENEFIT THE MIDDLE CLASS PERSONS WITH INCOME UP TO RS. 7 LAKH WILL NOT...
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 : Press Information Bureau Government of India Ministry of Finance 01-February-2020 14:43 IST New Personal Income Tax Regime heralds...
Income Tax : Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal relief...
Income Tax : Assessments arising from searches conducted after 01.04.2021 must strictly comply with the reassessment framework under sections 1...
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 Finance Act, 2004 introduced section 111A in the Income-tax Act, 1961 (the Act) prescribing a tax rate of 10 percent on Short ...
Income Tax : CIT vs. Vishnu Industrial Gases (Delhi High Court) - Where the department had not disputed that the expenditure was deductible in ...
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...
Goods and Services Tax : CBIC notifies reduced GST Rates on Several Goods vide Notification No. 18/2018-Central Tax (Rate), Dated: 26th July, 2018 with ef...
Important pointers of The Taxation Laws (Amendment) Ordinance, 2019 1) For existing Companies – (Whether Manufacturing or not) a. Rate of tax – 22% + applicable surcharge and cess b. Conditions – Have not availed any deduction under i. Additional allowance on scientific research, ii. Section 32AD, 32AB, 35CCC, 35CCD iii. Additional Depreciation of Plant […]
Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for […]
Article explains Income Tax Rate For A.Y. 2019-20 Company, Minimum Alternate Tax for Assessment year 2019-20, Income Tax Rate For A.Y. 2019-20 for Co-operative Society and Special Tax Rates Under Chapter XII. Income Tax Rate For A.Y. 2019-20 Company Domestic Company Rate of income tax Total turnover or gross receipt for F.Y. 2016-17 < Rs. […]
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 […]
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 […]
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 […]
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 21/2018-Union Territory Tax (Rate). Please Check- […]
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.
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.
