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 ...
Learn about stock market, how to invest, how to make money online, how to file Income Tax Returns ( ITR ) for FY 2022-23 (AY 2023-24) and FY 2023-24 (AY 2024-25). We covers investing concepts and various ways to make money.
The Multistate Tax alert archive includes external tax alerts issued by Deloitte Tax LLP's Multistate Tax practice during the last four years. These external alerts highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summ...
For the fiscal year 2020-21 (AY 2021-22), non-residents will be able to choose from a number of different income slabs. Non-Resident Individuals (NRI) Income Tax Slab Rates For the fiscal year 2020-21 (AY 2021-22), non-residents will be able to pick from a range of income slabs. ...
For example, if your medical expenses exceed 7.5 percent of your adjusted gross income in 2024, you can claim those and lower your taxable income. Tax brackets from previous years: 2023 tax bracket rates 2022 tax bracket rates 2021 tax bracket rates ...
Note: From AY 2021-22, there is no concept of an INR 10,000 penalty. Now the maximum penalty under section 234F is INR 5000 only. Reduced Time for Revising Your Return Suppose you are filing your ITR and you wind up making a mistake. Then, according to the changed rules, you just ...
Now, original/revised ITR for a Financial Year u/s 139 can only be filed maximum up to 31st December of the relevant AY with late fees, if applicable. However, due to Covid 19 pandemic, for AY 2021-22, the last date for filing the revised/belated return has ...
The IT department has released the JSON schema for ITR-1 and ITR-4 forms for AY 2024-25. Download Now The Income tax notification No. 32 /2024 (F.No.165/1/2021-ITA-I) for the Press Trust of India Limited, New Delhi. Read more The Income tax department has shared the order to ...
X is required to get his accounts audited u/s 44AB(a) of the Act as total income of assessee for the FY 2020-21 relevant to AY 2021-22 is less than maximum amount not chargeable to tax even if he had claimed profit from ...
I’ve already shared the “feel-good story” for 2022, so today I’m going to share this year’s feel-good map. Courtesy of the Tax Foundation, here are the states that have lowered personal income tax rates and/or corporate income tax rates in 2021 and 2022. I’ve previously written...