For the fiscal year 2020-21 (AY 2021-22), non-residents will be able to pick from a range of income slabs. Income Tax Slab for BOI, AOP, Artificial Juridical Person In comparison to last year, there has been no change in the income slabs limits for BOI, AOP, and Artificial Juridical...
salaried taxpayers who sought tax exemption for HRA of more than Rs 8,333 a month were asked to mention the PAN of their landlord. The new tax slabs forms were notified last month to seek a breakup of the exempted income
The Direct Tax Code (DTC) will takeover the current direct tax laws in India. Discover how domestic and foreign companies will be affected.
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 (...
Foreign companies are also bound to pay corporate tax on income earned in India. Securities Transaction Tax (STT) Selling or buying stocks listed on Indian stock exchanges is subject to the stocks Transaction Tax (STT). The Income Tax Department administers the tax, which was implemented in ...
top-tier benefits that freelancers get in their tax payments is the permit to deduct their freelancer expenses from freelancers’ income. Depending on the income of the freelancer, theincome tax slabsmay differ, which must be assessed appropriately by the freelancer before indulging in tax payments...
If you are in 20% or 30% income tax slabs, it makes sense to consider investing in tax free bonds as part of your Debt Portfolio(besides EPF/VPF/PPF). Provided, your investment tenure matches with bond’s maturity date, you are expected to remain in high tax slab bracket and also aim...
According to these slabs, Rs. 25000 in income tax is due on a total income of Rs. 7 lakh. According to the new proposed amendment, everybody with an annual taxable income of up to Rs 7 lakhs is now qualified for a Rs 25000 income tax rebate. How Does the Rebate Work in Real Life...
Corporate Income Tax: It is the tax is charged on the taxable profit of companies and other unincorporated bodies. Do you know? In the year1860,Sir, James Wilsonintroduced this tax in India for the very first time. He was thefirst Finance Minister of India. The reason for its imposition ...
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