This new tax regime, in effect as per July 1, 2007 differs from the standard methods to calculate corporate income tax. Under the actual profits method, the taxable income is calculated in accordance with corporate records and adjusted for tax purposes in line with the applicable regulations....
The Income Tax Act of India provides that individual subscribers to the (NPS) are eligible for tax benefits if they contribute to the scheme throughout their working life. What is the definition of an annuity? The Annuity is the amount of money an NPS member gets from the ASP. The subscri...
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slabs. The slabs represent different taxpayer categories based on their annual income. With one glimpse of this slab, you can decipher that an increase in your income will result in higher tax rates. You will also see that there are two different tax slabs under the old and new regime. ...