From FY 2023-24, tax rates for the new tax regime are revised. The new Tax Regime was introduced in Union Budget 2020-21. So now there is old tax regime, new tax regime applicable till AY 2023-24 and Revised new Tax Regime applicable from AY 2024-25. Now taxpayer has a choice to ...
Tax slabs rates in old and new tax regimeSubmit a Comment Your email address will not be published. Required fields are marked * This site uses Akismet to reduce spam. Learn how your comment data is processed.YouTube Videos on Income Tax How to file ITR1 new Income Tax Website, for ...
Income Tax Regime- Old Vs Newdoi:10.52403/IJRR.20210864Tushar D. Bagul
Since the inception of a new regime for filing taxes, there has been a discourse among taxpayers. The old tax regime provides opportunities to save taxes while, building a portfolio for fulfilling their financial goals. After the introduction of the new tax regime with less exemptions and deducti...
The government offers taxpayers a choice between the traditional old regime, which includes numerous deductions and exemptions, and the new regime with simplified structures and lower tax rates.
The Union Budget 2023 revised the new tax regime to be the default regime, effective from April 1, 2023. The old tax regime is, however, still available for taxpayers to use and it retains the benefit of exemptions and deductions. Under the new regime, the income tax slabs are the same...
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Nothing is guaranteed in politics, but it seems wise now to start making plans to live under a new tax regime…. There are two important tasks ahead for retirement planners: (1) determining the provisions of the new law that we need to take into account for retirement planning (and modify...
The new IIT Law consolidates some categories of income under the old IIT system into new categories. Most significantly, for tax residents, it combined three types of income that were traditionally taxed at a flat rate of 20 percent, namely income derived from labor services, income from author...
20090108-A new tax revolutionA new tax revolution A sweeping VAT reform takes place in China on January 1 2009. It will benefit many domestic companies but could block the cash-flow of some foreign invested enterprises, removing advantages enjoyed under the old tax regime. By Joanna Law. ...