You can choose between the new and old tax regime in every financial year provided you do not have business income. Form 10IE is a declaration for choosing the ‘New Tax Regime’ (till AY 2023-24) After that this is default. The taxpayers must furnish Form 10IE before filing the income...
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 New Filing Regulations implement the filing regime for both direct (H-share) and indirect overseas listings (Red-chip and VIE). It is a profound reform to China’s overseas listing regulatory system, and the impact will be far-reaching. The filing regime and supporting guidelines of the ...
The Narendra Modi government introduced a new tax regime in 2020 alongside the traditional old regime to streamline the tax filing process and provide taxpayers with more options. The move offers taxpayers a choice between the conventional system, known for its array of deductions and exemptions, an...
New Tax Regime (last updated in April 2023) The Good Side of the New Income Tax Regime Less compliances– Sinceexemptions and deductionsare removed from the new tax regime except NPS, the need to present documents at the time of tax filing is eliminated and the process has become much simp...
The article discusses the tax regime implemented in France on January 1, 2013, which can be applied to all French and foreign source interest and dividend income for French tax residents. The tax regime cancelled the optional flat-rate withholding tax (WT) and replaced it with a compulsory WT...
US and other foreign businesses now face higher income taxes in mainland China following new rules issued in March by China’s tax administration. The new law and implementing rules impose tax filing obligations on the worldwide income of foreigners (whi
2025 tax filing season starts as IRS begins accepting tax returns Indian Embassy in Washington D.C. Hosts Republic Day Celebrations Asia India lodges strong protest involving firing by Sri Lankan Navy during apprehension of fishermen, MEA calls Acting High Commissioner ...
Most tax exemptions and deductions will be eliminated to streamline tax filing, allowing taxpayers to file returns easily without dealing with numerous exceptions and unique cases. However, the standard deduction for salaried employees in the new tax regime has been raised by 50% to Rs 75,000. ...
According to Turkish Income Tax Code, the annual income tax returns for 2023 should be filed between 1 March and 1 April 2024.