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 Ta...
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...
Draft Government Decision on the norms for the application of Law nr. 88/2023 has been published for public debate. The law introduced new VAT exemptions with the right to deduct in the medical sector, with applicability from 12 June 2023. However, it was established that these VAT exemptions...
P.S. If Trump’s proposals for new loopholes are misguided, what are good ideas? The Tax Foundation article by Alex Muresianu has a very good suggestion. In the long term, raising wages and employment opportunities for workers across the board should be the goal. The tax policy that would...
The income from Property, whether it is from a residential home or a commercial property, is chargeable to tax as per the individual’sincome tax slab rate. For the financial year 2023-2024 for individual tax payers of below 60 years of age, income up to Rs. 2,50,000 is tax free und...
24 June 2024 On 17 June 2024, theOECD/G20 Inclusive Framework on BEPS(“OECD inclusive framework”) published further administrativeguidanceon the implementation of the Pillar Two global minimum tax rules ("Pillar Two"), together with details of the processes for determining that jurisdictions' loc...
Arpit Kulshrestha seeks higher interests in financial services, taxation, GST, I-T, etc. Writes articles with depth knowledge and is extensive for the same. The resources provide effective articles for the products of SAG infotech which provides taxation
What are the NewIncome Tax Slab Rates? A new tax regime has come to effect from the financial year 2021-22 for HUFs and individuals. Individuals are free to choose which tax regime they want to continue with. The individual is required to choose theincome tax return filing. If the taxpaye...
A new offline utility based on JSON is to be used. Choose Old and New Tax Regime for FY 2020-21 One has to inform the Income Tax Department of his choice of Old or New Tax Regime. Those with business Income have to fileForm 10-IE electronically and give an Acknowledgment number before...
PMK-172 provides for a unique self-mitigation of the secondary adjustment by waiving the adjustment if the taxpayer accepts the main adjustment and returns the money to its home country or related party. Additional adjustments under the VAT regime ...