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 : Budget 2025 introduces no income tax on earnings up to ₹12 lakhs under the new regime, offering significant relief. Learn about ...
Income Tax : Countrywise withholding tax rates as per the Income Tax Act compared to tax treaties/DTAA. Understand differences & implications f...
Income Tax : Withholding tax rates for dividends, interest, royalties and Fee for Technical Services in different countries. Understand how tax...
Income Tax : Delve into the comparison between the old and new tax systems for FY 2023-24 in India. Explore advantages, factors to consider, an...
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 : 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...
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 […]
Every time the Finance Minister makes the changes in the Income Tax at the time of presentation of annual budget proposals. This year a historical change is announced by the Finance Minister along with the various provisions that keep changing in the Budget, 2020. A new section (Section 115BAC) is added in the Income Tax […]
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 […]
The Finance Minister has proposed reduced tax rates in respect of an individual and HUF who opts to not to claim any exemption or deduction by introducing a new Section 115BAC. The budget 2020 has given taxpayers the option to choose between the existing income tax regime (which allows availing existing income tax exemptions and […]
Understand the income tax rates for the financial year 2020-21 / AY 2021-22. Discover the different rates applicable to individuals, companies, and more.
So the Union Budget 2020 has led to so many expectations (positive of course) for all the tax assessees in terms of one of the basic amendment- the main one for which we all were waiting for since every-time I guess… Changes in Income Tax Slab rates So here comes the New slab for Individuals […]
TDS Rate Chart For Assessment year 2021-22 /Financial Year 2020-21 As we all are aware that yesterday our Honourable Finance Minister has conducted press release. In that press release she declared that The TDS rates for all non-salaried payment to residents, and tax collected at source rate will be reduced by 25 percent of the […]
Discover the changes in tax rates of domestic companies for F.Y. 2019-20 and A.Y. 2020-21. Learn how Sections 115BAA and 115BAB are revolutionizing taxation.
The Finance Minister Nirmala Sitharaman in Union Budget, 2020 introduced new Income Tax regime. In New Income Tax regime, there is an option for individuals and HUF (Hindu Undivided Family) to pay taxes at lower rates. They have to select the Tax regime for the year in the beginning of the Financial Year (FY). Now, many are confused […]
Government has come up with new scheme of tax for Individuals in the Budget 2020, which will be applicable from the Tax return of F.Y. 2020-21. Who can opt for the scheme? The Individuals and HUFs who does not have any Business income can opt for New Scheme. Points of difference between both schemes: 1. […]
