Income Tax Slab for Hindu Undivided Family (HUF) Income Tax Slab for Indian Companies Income Tax Slab for Foreign Companies Using E-calculator to Compare Tax Under old and new tax regimes Essential Factors about Income Tax rates in India Important Points to Save Income tax Income Tax Slabs in...
About the Income Tax Department of India What is the Income Tax Act? Schedules of the Income Tax Act What are the Income Tax Rules? Taxpayers and Income Tax Slabs What are the Existing Tax Slabs? What are the New Income Tax Slab Rates? Exceptions to the Income Tax Slab What is Advan...
Stay compliant and optimize your taxes. Vakilsearch provides expert guidance and online tools for hassle-free corporate tax filing for AY 2024-25. Get started today!
April 11, 2024CA Preeti Punihani (Ex-employee)Income Tax News and Articles, Taxes in India 5 Minutes Read Individuals with income exceeding more than the basic exemption limit are required to file an Income Tax return within the due date and if the person fails or misses the due date then...
In the year1860,Sir, James Wilsonintroduced this tax in India for the very first time. He was thefirst Finance Minister of India. The reason for its imposition is to meet the expenses and losses, which are incurred due to the Revolt of 1857. ...
Like any salaried income, freelance income is also taxable as per the applicable tax slab for freelancers. One of the top-tier benefits that freelancers get in their tax payments is the permit to deduct their freelancer expenses from freelancers’ income. Depending on the income of the freelancer...
Short term capital gains are taxable at 15 percent. A special rate of tax of 18% applies to short term capital gains no matter the tax slab. If the full taxable income excluding short term gains is below 2.5 lakh, then the person can adjust the shortfall contrary to the short t...
Researcher concludes that there is still a need to have more reforms in income tax structure whatever in the form of broadening of exemption limits, reducing the tax rates, reorganization of prevailing tax slab rates or to make income tax structure so simple that all people could understand it ...
Availing Tax Exemption on Income Tax in India Things to remember while claiming Income tax refunds Salaried Plans for e-filing Procedure to Claim Previous Tax Refunds Indian Income Tax Slab: The New and Old Rates Frequently Asked Questions Q. What If my tax refund status says, expired? The ...
A large part of revenue for the Government of India comes from the income tax you pay every month or upon every contractual earning. Ministry of Finance handles these revenue functions and it has delegated the responsibility to managing direct taxes (like income tax, wealth tax, etc.) to the...