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 Take Deductions and stick with the old tax slabs and not take ...
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...
If the benefit-in-kind was received in the 2022 financial year, then the employer is exempted from withholding the income tax, and the employee is exempted as an income tax object. For the 2023 financial year (January – June), the employer is exempted from withholding the income tax. For...
2. A 2 January report byBloombergnoted that in the past, people could avoid tax on overseas earnings by acquiring a foreign passport or green card, while keeping their Chinese citizenship. This method will no longer operate because the government will tax global income from all holders of "huk...
The new regime mandates more comprehensive transparency measures concerning beneficial ownership to combat money laundering, tax evasion, and terrorist financing. However, enforcement of these new requirements has been delayed until early next year (specific date is yet to be confirmed). Many entities ...
Ukraine regime claims blast that [assassinated] killed head of Russia's nuclear weapons unit A bomb killed aRussian general in Moscow. A Ukrainian official says "Ukraine's secret death squad service" was behind it Kirillov, 54, was under sanctions from several countries, including the U.K......
Pursuant to art. 89, para. 7, lit. b), CTS, which will enter into force beginning from the fiscal year following that in which the authorization of the European Commission for the new tax regime of TSOs is granted. Author information ...
She went on to accuse the EU Commission president of “swooping in and overriding the foreign policies of elected governments” in recent months, while cheerleading a “brutal apartheid regime that she calls a ‘vibrant democracy.’” The lawmaker concluded: “With defenders of democracy like ...
New York’s pass-through entity tax (PET) imposes an income tax directly on the pass-through entity as opposed to the partners, members, or shareholders. What should you consider when deciding whether or not to elect into the New York PET regime?
Choose Old and New Tax Regime for FY 2020-21 One has to inform the Income Tax Department of his choice of Old or New Tax Regime. Those with business Income have to fileForm 10-IE electronically and give an Acknowledgment number before filing ...