However, there was an exception made for the new slab. Moreover, the exception applies to Senior persons over the age of 75. Those senior individuals who rely heavily on their pensions and other sources of income have been spared from filing tax returns. And, banks will deductTDS (Tax Dedu...
The income tax slab rates can be broadly classified as: New Income Tax Slab Rates for FY 2018-19 (AY 2019-20) Slab of Income tax for individual tax payers & HUF who are less than 60 years old Income SlabTax Rate Income up to Rs. 2,50,000* No Tax Income from Rs. 2,50,000 –...
Under the Indian income tax laws, each taxpayer is charged a different rate according to the tax slab that they come under. On the other hand, companies and firms have a fixed taxation rate charged on the profit earned during a fiscal year. For this reason, the income earned by people is...
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...
In a nutshell, Income tax is a permanent source of income for the government. Also, it encourages savings and investment among people. Further, it removes disparities between the haves and have nots and fills the gap between the two. And that is why we use slab rates. ...
Dividend received by resident shareholders are now taxable as per the income tax slab rates. Sec 194 has gained prominence as TDS shall be deducted on dividend by the company…Read more » Posts pagination 123…289Next » Search for:Search ...
There is no change in income tax slab rate for financial year 2019-20 (AY 2020-21). The standard deduction of Rs. 40,000 has hiked up to Rs. 50,000 for salaried people and pensioners. Tax payers with taxable income up to 5,00,000 get full rebate under Section 87A. Rebate has bee...
File income tax returns online free with LegalRaasta software or Tax expert. Form 16 upload, e-filing, ITR1,2,3,4,4S. Salary, HP, capital gain & presumptive option
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