Tax slabs The finance minister Nirmala Sitharaman did not announce any change in the tax slabs. Old and New Regime will be available for FY 2022-23 Updation of returns Taxpayers will get an extra opportunity to file an updated tax return within 2 years from the end of the relevant financial...
MOBILE Income Tax Software FY 2021-22 AY 2022-23 for Teachers – 2022 Online Income Tax Calculator INCOME TAX FY 2020 – 21 Income Tax Slabs: There isNO separate tax slab for men and women. Earlier women used to have slight benefit over men in terms of ...
Why did Government come out with the New Tax Slabs without deductions? List of Exemptions removed List of Deductions, Exemptions still available Tax Calculator choose old or new tax regime Video on how to choose old or new Tax slab Choose the old or new tax regime for FY 2022-23Revised...
The corporate income tax rates for companies, and tax slabs for individuals broadly remain the same for FY 2022-2023. Companies will continue to be taxed at 30% if their total turnover (in the previous year 2020-2021) exceeds INR 4,000 mn (USD 53.5 mn approx), and at 25% if it doe...
Calculating income tax involves finding out your taxable income based on various sources and applying the applicable income tax slabs. Here are the steps for the income tax calculation for a salaried individual: Step 1: Calculate your gross taxable income ...
Income Tax Slabs and Rates for Assessment Year 2022-23 Individuals and HUFs can choose the Existing Tax Regime or the New Tax Regime with a lower rate under section 115 BAC of the IT Act, 1961. But, the taxpayer choosing the second option will not be allowed certain Exemptions and Deductio...
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 the new regime, the income tax slabs are the same...
On the Customs front, the Union Budget 2023 placed emphasis on boosting manufacturing, enhancing domestic value addition, promoting export and encouraging green energy and mobility. In Budget 2023, Government has simplified the tax structure with fewer tax rate slabs to help in reducing compliance bur...
Income Tax Slabs Under the Indian income tax laws, each taxpayer is charged a different rate according to the tax slab that they come under. On the other hand, companies and firms have a fixed taxation rate charged on the profit earned during a fiscal year. For this reason, the income ea...
In a federal structure, India's determination to much-needed fiscal reforms has been widely applauded at its face value when she relinquished her previ