Moreover, for your convenience, we have also added a ready-to-use Excel template and given stepwise instructions on how to use it. This template will help you determine the exact tax amount you need to pay for the AY 2024-2025 (FY 2023-2024) as per the old and new tax regimes. Here...
2nd E – Interest earned on EPF is tax exempted. 3rd E – EPF Maturity amount is exempt from tax partially now(till the annual contribution of Rs 2.5 lakh per year). *Recently, the government has decided totax the interest on EPF contributions above Rs 2.5 lakhper year. Given this chang...
Gross Profit 24,000 Less: Operating Expenses 8,000 Earnings before interest and tax (EBIT) or Operating profit 16,000 Less : Interest on borrowed capital ( 16 % on 50 % on 80,000 ) 6,400 Earnings after tax (EAT) 9,600 Less : Tax @ 50 % 4,800 Profit after Tax or Net profit ...