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...
so it's no surprise that everyone is thinking about the 2024 fiscal year. As someone who is interested in how technology and money are coming together, I have been keeping a close eye on things. Crypto fans and buyers should pay attention to this rule because it has big effects on us...
Per the income tax rule, TDS should be deducted from either the invoice or the payment (whichever occurs earlier). If you accidentally deduct from both transactions, the system reverses the TDS that was deducted from the later transaction, up to the lower transaction value, during invoice ...
Gold has had its share of ups and downs over the last 5 decades. Here’s why the metal is having another big comeback.
relevant tax regulations into law, to improve the certainty of tax policies, enhance the authority of the tax documents, and improve the efficiency of tax administration. This is an important part of China’s broader efforts to achieve the rule of law, that is, law-based governance of the...
Maternity leave Under the new rule, working mothers are entitled to three months of maternity leave after childbirth and six months if they have a certificate from their doctor stating that their newborn faces health issues. The first four months will be fully paid, while the fifth and sixth ...
Configure Default Tax for Shipping Charges You can configure a default tax that will be automatically applied to shipping charges in transactions. If you have tax automation enabled, you can associate a tax rule based on which the tax rates will be applied. You can configure this from Settings...
Mr. Trump is working on "no tax on seniors' Social Security, no tax on overtime pay" as well as renewing the tax cuts in the 2017 Tax Cuts and Jobs Act, White House press secretary Karoline Leavitt said on Jan. 6. But, she added, the president also wants to abolish the "carried ...
As per rule 26 of Income tax act, TDS on a foreign currency transaction is converted on the TTR buying rate instead of normal GAP rate.TDS on transaction in foreign currencyMain transaction in GAP rate or manually updated exchange rate TDS on transaction as per TDS exchange rate...
UPDATE (June 12, 2024):On June 7, 2024, the draftProvisions on the Registered Capital Registration Management System of the PRC Company Lawwereadoptedduring an executive meeting of the State Council. In implementing the registered capital management system, the meeting emphasized the need t...