Understand the changes in Rates of Income Tax for inclusion in the Union Budget 2023 applicability from AY 2024-25 in a simplified manner. Know more about the new default Tax Regime (Sec 115BAC) and when to opt for the old tax regime.
Discover the key highlights of the Budget 2023 proposals for Indirect Taxation including relief in customs duty on import of capital goods and machinery for electric vehicles, reduction of BCD on TVs, increase of BCD on Electric Kitchen Chimney and more.
Understand the taxation elects in the Budget 2023: Gross Income – Taxing Gross Income explained in detail.
Understand the proposed changes to Section 43B of the Income Tax Act regarding payments to MSMEs. Learn how due dates, payment timing, and more will impact your taxes. Ministry of Micro, Small & Medium Enterprises.
The Union budget 2023 presented in the Parliament today on 1st February 2023, the Finance Minister proposed five major announcements for tax payers: 1. Nil tax, upto income Rs. 7 Lakhs (After Rebate U/S 87A) 2. Six Income slabs and new tax rates 3. Standard Deduction Rs. 52,500/- for salaried person with an income of […]
Newly section insert by finance Act 2023, 1) Insertion of new section 50AA: Special provision for computation of capital gains in case of Market Linked Debenture., 2) Insertion of new section 194BA: TDS on Winnings from online games , 3) Insertion of new section 80CCH: Deduction in respect of contribution to Agnipath Scheme As per […]
Budget 2023 highlights: All eyes are glued to the Budget announcements being made by Finance Minister Nirmala Sitharaman in the Parliament. Govt is planning to spend Rs 2200 crore for high-value horticulture and an increase in agri credit target to Rs 20 lakh crore are some of the key announcements so far. Finance minister Nirmala […]
Personal Income Tax (For Individual, HUF, AOP (other than co-operative) BOI and AJP Currently Tax will be nil up to Income ₹ 5 lakh in both regime (old and new), in proposed scheme this limit increase up to ₹ 7 lakh in the new tax regime. It means that in old regime limit of ₹ […]
Companies register offshore for a variety of reasons, including tax benefits and financial privacy. Whether you need a company abroad depends on your specific business needs and goals.
Introduction The Indian Union Budget 2023, which is the annual financial statement of the Government of India, was presented by Finance Minister Nirmala Sitharaman on 1 February 2023. This year’s budget has witnessed a significant shift in focus, as the Union Government has made substantial investments to stimulate the economy, improve access to education and […]
