From FY 2023-24, tax rates for the new tax regime are revised. The new Tax Regime was introduced in Union Budget 2020-21. So now there is old tax regime, new tax regime applicable till AY 2023-24 and Revised new Tax Regime applicable from AY 2024-25. Now taxpayer has a choice to ...
GST rates in India are divided into multiple slabs, each serving a distinct purpose in the taxation system. The primary slabs are 5%, 12%, 18%, and 28%. These rates are determined based on the nature of goods and services and their necessity or luxury status. Essential items are taxed ...
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Income tax rates as per tax slabs – FY 2023-24 The Union Budget 2023 revised the new tax regime to be the default regime, effective from April 1, 2023. The old tax regime is, however, still available for taxpayers to use and it retains the benefit of exemptions and deductions. Under ...
However, certain specified domestic companies, particularly startups, may be eligible for concessional tax rates. Here is a detailed Corporate tax rates 2024-25 in India: Corporate Tax Rate for Domestic Companies The Tax rate for companies for the year 2023-2024 are: ConditionIncome Tax Rate (...
1. In countries in which VAT is charged at a number of different rates, the rate in the table is the highest rate. 2. The rates in the Table do not include Local tax, if it exists. 3. Social security rates are the highest rates. Unlike income tax social security contributions are ge...
Proprietorship Tax Rate AY 2024-25| FY 2023-24–Proprietor’s age is above 80 years Tax rates for Proprietors opting for an Alternate Tax Regime under Section 115BAC Rates of surcharge – For Assessment Year 2024-25 under the Normal Tax Regime ...
Taxes are required to be deducted in accordance with the provisions of section 195, section 196D and other applicable provisions of the Act as per the rates in force i.e. the TDS rate shall be at 20% (plus applicable surcharge and cess) on the amount of dividend. However, as per Sec...
December 2, 2024CA Suchi SharmaIncome Tax News and Articles, Taxes in India 10 Minutes Read Many websites are providing links to free download income tax return filing software for people looking for a free trial. However, after clicking these links, users often receive a software purchase ...
The GST rates that are applied depend on the HSN or SAC codes that are assigned to the goods or services. HSN: Go to Tax > Setup > Sales tax > HSN code. SAC: Go to Tax > Setup > Sales tax > Service accounting codes. You can assign HSN and SAC codes to products in the GST ...