Paying tax is inevitable, be it for an individual or a business. Tax is levied on the income earned by an individual or business after certain deductions. Due to multiple income tax slab rates combined with many tax exemptions and deductions, calculation of income tax can be a challenging tas...
Example of Income Tax calculation for old and new tax regimeWhy did Government come out with the New Tax Slabs without deductions?In an interview with Times of India, revenue secretary Ajay Bhushan Pandey said that the assumption that all exemptions be taken into account for all slabs did not...
A new electronic filing facility is available for new ITR-1 and ITR-4 forms for the FY 2023-24 Calculation of Advance Tax for A.Y. 2024-25 Now you can send any document or PDF file via Whatsapp or e-mail from the Print Preview of Reporter Return Forms, 26AS, Acknowledgment, Computat...
Recommendation of 8.25% as rate of interest to EPF subscribers for FY 2023-24. Rulings Claim of undue influence by an employee who has voluntarily retired and accepted benefits, not acceptable. Recovery of excess payment of allowance due to adoption of wrong principle and erroneous calculation of...
As per the Finance Act, 2022, the rates of income tax for the FY 2022-23 (i.e. Assessment Year 2023-24) are as follows: 2.1 Rates of tax A. Normal Rates of tax: In the case of every individual other than the individuals referred to in para (B) an...
Learn how to file Income Tax Returns ( ITR ) for FY 2022-23 (AY 2023-24) and FY 2023-24 (AY 2024-25). We covers tax concepts on Salary, interest, Capital Gains, House Property, Business and Profession and GST.
substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities...
Income tax calculation is intrinsic for any taxpayer when paying income tax, via which they get to know about the due amount based on the nature of their income. This can either be done manually or by using the onlineincome tax calculator. For the salaried taxpayer, the income from salary ...
The Multistate Tax alert archive includes external tax alerts issued by Deloitte Tax LLP's Multistate Tax practice during the last three years.
Those business clients should be reminded about the DOL’s overtime calculation rules under the Fair Labor Standards Act (FLSA). Under FLSA rules, all compensation paid to employees must be included when calculating the employees’ regular rate of compensation for purposes of determining the correct...