The Income Tax Department of India levies ataxon inidviduals' earnings according to theslab they fall under.Every citizen, whether they're an individual, Hindu Undivided Family (HUF), or an association, has to pay a certain amount of tax based on their annual income. Taxpayers can claim reb...
Income Tax slab changes under general category of Individuals in Budget 2015-16 Indian Union Budget is being declared on 28thFebruary, 2015. Indian citizens expect a hike in income tax limit from last year figure, based on inflation rate of 2014-15 and other parameters. What would be the rat...
Outstanding Small Income Tax Demands Not required pay off : Budget 2024 The Indian Government has extended an olive branch to Income tax taxpayer those who are still handling with Petty small Income tax Demands related to previous year. Tax Dept to waive off small Income tax demands autonomously...
MVT1 wage type will naulify the income tax for the particular payroll period. Somewhere your making mistake system surely will naulify the income tax. Make sure that employee should be fall in income tax slab. once maitain the MVT1 wage type in IT 0015 with 0.01 amount date should be wh...
As mentioned earlier,Interest that is earned on fixed deposits is taxable in the hands of the depositor as per the income slabso a person who earns above 10 lakh pays 30% tax (And education cess and surcharge extra). If TDS is deducted and you are in 30% tax slab then you need to ...
1. As per sec 44AB tax audits will be applicable only if the gross receipts exceed Rs. 50 lakhs during the year. However, for a person who is opting to pay tax under sec 44ADA @ 50% of gross receipts tax audit will not be applicable. 2. However, sec 44ADA(4) clearly states ...
Tax liabilities of an NRI investing in India are the same as that of a resident investor, but tax is deducted at source(TDS) in case of NRI. TDS is deducted for most of the investments at flat rate irrespective of income slab, unlike the resident Indians. Various investment options , tax...