This revenue will now be taxed as regular income. Short-term gains on financial assets will see a tax rate increase to 20% (up from 15%), while long-term gains will have a reduced rate of 12.5% (down from 20%). New income category names "Income from Salary“ has been renamed to "...
Income Tax Return for Proprietorship Firms - Union Budget 2023-2024 Proprietorship Tax Rate AY 2024-25| FY 2023-24 under Normal Tax Regime Proprietorship Tax Rate AY 2024-25| FY 2023-24– Proprietor's age is less than 60 years Proprietorship Tax Rate AY 2024-25| FY 2023-24–Proprietor’...
Before having the DTAA in place, India had a withholding tax rate ranging between 5% and 20%, while Singapore had a withholding tax rate of 15% for interest paid to non-residents. With the DTAA in place, the rate of tax on interest was amended to 10% of the gross amount of interest...
In Budget 2023, Government has simplified the tax structure with fewer tax rate slabs to help in reducing compliance burden and improving tax administration. Further, the Government has proposed some legislative changes as part of the policy decision and to enhance trade facilitation. Click here to...
needs, banks offer Senior Citizen Savings Accounts. These specialized accounts provide added benefits, including an extra 0.50% interest rate on savings, basic health and accidental insurance coverage, and other investment-related perks, ensuring that seniors can securely and efficiently manage their ...
instant disbursal of loan, the Personal Loan is an excellent facility that comes in handy in a moment of crisis. Before applying for the loan, make sure that you use the toPersonal Loan Eligibility calculatorcheck the maximum loan amount and the possible interest rate you can get on the ...
According to theWTO, the simple average Most Favoured Nation (MFN) applied tariff rate in 2023 stood at 17.0% for all products. The simple average MFN tariff rate for agricultural products was 39.0%, while the rate for non-agricultural products was 13.5%. Maintaining high tariffs and export ...
February 5, 2025byIndia Briefing India’s Union Budget 2025-26 proposes cutting seven aditional customs tariff rates for industrial goods, reducing total slabs to eight, including a zero rate. Personal Income Tax Changes in India Under the New Regime for FY 2025-26 ...
. Services exports surged 21.3%. Between April and October 2024, total services exports stood at US$216 billion, compared to US$192 billion in 2023. This growth is crucial given the sector’s significant contribution to India’s GDP and employment, specifically for the urban middle-income ...
Long-term capital gains not covered under specific exemptions will see a reduced tax rate from 20 percent to 12.5 percent. The Union Budget 2024 announcement emphasized achieving parity in taxation between residents and non-residents by amending section 115E (of the Income-tax Act 1961) to align...