The Direct Tax Code (DTC) 2025 will replace the Income Tax Act of 1961 and the Wealth Tax Act of 1957, bringing India streamlined and modernised tax systems that clarify regulations, widen income tax brackets, reduce deductions, and aim to increase compliance. The new tax code will consolidate...
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 ...
Haniffa, Aziz
Broadly speaking, most of the existing tax rates already covered in the tax rebate plan will be slightly reduced. The main reduction is basically.Customs duties Crude oil has been cut from 5% to zero, and the central consumption tax of diesel has been reduced from 4.40 rupees / litres to 2...
If it is updated to any value except None or Expense, the customer tax information will not be visible. While posting a foreign vendor payment and the applied the withholding tax of non-residence, if the currency rates on the transaction are changed, a similar exchange rate isn't applied ...
New Delhi has also introduced ‘safe harbour rates’ (fixed tax rates) for foreign mining companies selling raw diamonds in the country. This would make India, where 90% of the world’s diamonds are being cut and polished, a more predictable market for global mining companies, and the move...
Prior to implementation of GST there was no uniformity on tax across India as duties and fees were levied at different rates across India's different states. "The new law will bring a uniformity of taxes - one country, one tax - and it is expected to make things easier for doing business...
There is no denying the thrill and fun of real money gambling. Yet if you want to make your gambling experience profitable, as well as enjoyable, you need to check out the operator’s payout rates. Reliable operators will provide payout reports on their site, which have been independently ...
The calculation of exchange rates for India export and import transactions is simplified. Set up number sequences for additional transaction types. You could set up number sequences for some EXIM incentive schemes. Set up number sequences for EXIM incentive schemes, withholding tax settlement, VAT ...
Bug fix The Total Tax field in a sales quotation and sales order are read-only. When the Price per unit field is changed in the sales quotation line or sales order line in finance and operations apps, it must sync back to the respective sales quotation or sales order line...