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 rat...
Income Tax Slabs / Rates FY 2021-22 (AY 2022-23) for Salaried / Pensioner, Individuals (aged below 60, Sr. Citizen, Super Sr. Citizen) with standard...
The Income Tax Act is composed of 23 Chapters, 298 Sections, and further sub-sections. Each of these chapters and sections is designed to deal with the different aspects of taxation. When the Government of India presents a Budget for every financial year in February, it also introduces amendme...
As you can see with the above income tax calculation, salary components and salary structure plays a very important role in how much income tax you pay. We have come up with some optimised salary structure using which youpay NO income tax even with CTC of more than Rs 20 Lakhs. Income ...
Tax Rate2022/232023/24Change Basic rate 20% TFA - £37,700 TFA - £37,700 no change Higher Rate 40% £37,501 - £150,000 £37,501 - £125,140 -£24,860 Additional Rate 45% £150,000 £125,141 -£24,860NOTES: TFA: Tax Free Allowance amount - you only start...
Knowing your tax bracket can help you make better financial decisions. Here are the 2024 and 2025 federal tax brackets and income tax rates.
ITR - 1 (SAHAJ) Indian Individual Income Tax Return (2020-21) ITR - 1 (SAHAJ) Indian Individual Income Tax Return (2021-22) ITR - 1 (SAHAJ) Indian Individual Income Tax Return (2022-23) ITR - 1 (SAHAJ) Indian Individual Income Tax Return (2023-24) ITR - 1 (SAHAJ) Indi...
Tax Portal - A global guide covering income tax, Tax Rates, Tax updates Business News, Business & Finance Worldwide 2025
Providing latest updates on Direct and Indirect Tax laws including income tax and GST with Corporate Laws which are being used by the professionals and business entities in day to day activity.
For example: suppose an individual has business or professional income above the specified threshold which mandates an income tax audit in FY 2022-23 (AY 2023-24). Then such an individual must get their books of accounts audited by September 30, 2023. And file his ITR ...