Choose the old or new tax regime for FY 2022-23 Revised New Tax Regime from AY 2024-25 Tax rebate on an income of up to ₹7 lakhs has been introduced under the new tax regime. This means that taxpayers with an income of up to ₹7 lakhs can claim all the tax paid(Yes you nee...
Very Senior Citizens (80+ years of age) The table below gives the tax slab rates: Income Tax Slab for HUFs & Individuals (below 60 years – for both Men & Women) New Simple Tax Slab without exemption: Income SlabTax Rate Income up to Rs 2,50,000No ...
Income Tax Refund AY 2022-23 If the taxpayer has paid any amount above the actual tax liability, they are eligible to claim an income tax refund for the same amount. For instance, if the TDS liability for a financial year was Rs. 50,000 and the employer deducts Rs. 60,000 instead, ...
Presumptive tax filers must report prescribed rate or actual profit, whichever is higher! Published on:17-Feb-2025 Presumptive Taxation GST unregistered dealers can now generate e-Way Bills with Form ENR-03 on EWB portal! Published on:17-Feb-2025 ...
Ambiguity regarding Tax Rates: Up until Budget 2022 there was no clarity regarding tax rates on gains from crypto. With section 115BBH coming into effect from FY 2022-23, crypto gains will be taxed at a 30% rate. Additionally, 1% TDS will be levied on cryptocurrency transactions exceeding IN...
Let’s take the example of a salaried person who has filed his return for the assessment year 2020-21 (financial year ended March 31, 2020, AY ended 31 Mar 2021), and he has forgotten to include a certain interest income of Rs 50,000. He is in the 30% rate slab and he updates ...
PwC Indonesia Indonesian Pocket Tax Book 2022 33 Withholding Taxes b. PPh 23 is due at a rate of 2% of the gross amounts on the fees for the following: 1. Rentals of assets other than land and buildings; 2. Compensation with respect to technical services, management services, consultation...
(Cao et al.2022). When the government lacks the ability to observe the R&D productivity of enterprises, a flat tax or subsidy rate would not lead to a Pareto improvement (Akcigit et al.2022; Yang and Zhang,2021). Lowering corporate tax rates not only benefits firms by reducing their tax...
FORM - 13 Application by a person for a certificate under section 197 and/or 206C(9) of the Income Tax Act, 1961, for no deduction/collection of tax or deduction/collection of tax at a lower rate. FORM - 15C Application by a banking company for a certificate under section 195(3) ...
For these additional years, we apply to each group's variables the average year-to-year growth rate of its revenues over the 2016–2022 period. 3.2 Geographical distribution of sales, profits, depreciation and payroll To obtain revenue estimates from Pillar One Amount A, one would ...