20 November 2023Yes, you need to pay short-term capital gains as your income exceed basic exemption limit. SHAHNH(Querist) Follow 21 November 2023Thanks! But for A.Y: 2024-25 it’s said that for income upto 7 lakhs no tax will be payable ( due to increase in standard deduction ) ...
However, the new tax regime brings lower tax rates but eliminates many of the exemptions and deductions available under the old system. Instead, it offers a fixed standard deduction of Rs 50,000 for all taxpayers, along with an increased basic exemption limit of Rs 3 lakh and tax rebates fo...
The newly introduced DTR mechanism replaces the Dutch-style 'tax exemption with progression method' in the area of corporate taxation regarding proceeds derived from foreign-source business activities. The rationale for this legislative shift, according to the Dutch tax legislator, is to arrive at ...
Since the promulgation of the Cybersecurity Law of China in 2017, the Chinese government has been focusing on the regulation over cross-border data transfer out of China. As of today, the PRC legal regime for the cross-bo...
*A distribution is only exempt income if the capital gain is not recharacterized as income subject to tax, or from an associated person. **April 1, 1988 is the date that the current tax regime applying to trusts came into force in New Zealand. ...
An overview of the FSIE regime (1) Exclude interest, dividends, and equity disposal gains derived from/incidental to: The regulated businesses of regulated financial entities; The activities producing the tax-exempt assessable profits of entities benefitting from ...
22 Mining, Petroleum and Gas Operations A single tax regime covers all 3 industries. Whilst the distinction between small-scale and large-scale mining operations has been removed, resource projects are still assessed on a project basis. Income Tax Rates – Mining Companies The corporate tax rate ...
The international tax proposals would: Raise the corporate income tax rate to 28% and limit the Internal Revenue Code1 Section 250 deduction to 25%, thereby raising the effective rate on global intangible low-taxed income (GILTI) to 21% Modify the GILTI regime to align with the global ...
Exemption from capital gains on swap of assets against the units of REIT Taxation in the hands of SPV Particulars Interest Rental income Dividend Sale of real estate Unresolved Issue Source: Deloitte analysis Tax Impact • Taxable deductible for SPV • No withholding on upstreaming interest ...
The Indian Drug Manufacturers Association (IDMA) has demanded exemption from filing of return under the new goods and services tax (GST) regime on indirect tax with reference to loan licensee having additional place of business. There is currently no exemption from filing of return under GST when...