Budget 2024: A huge relief for the standard deduction for salaried employees from ₹ 50,000 to ₹ 75,000 and deduction on family pension for pensioners from ₹ 15,000 to ₹ 25,000 | Only for New Regime What Will Be The Standard Deduction In FY 2023–24? All salaried people and...
Step 4 – Measure the Education Cess TThe assumption is that the education cess is2%of the tax on total taxable income. Go toC13and use the following formula =C12*2% Hit Enter. Step 5 – Calculate the Tax Liability for the Year Go toC14and use the formula: =SUM(C12:C13) Hit Enter ...
As per section 192(1) of the Act, any person responsible for paying any income chargeable under the head “Salaries” shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rates in...
The working class in this country need and deserve a break. There is such a thing as death by taxation! You can choose to milk one cow till it just tilts and tips and “stumbles to earth” as Eminem put it, or grow the herd and get a litre from each. The KK regime seems to p...