Complete Tax Solution: Latest Tax News India, Tax Notification
Latest Tax News & Updates. The website www.taxguru.in is dedicated to providing updates to professionals in the fields of finance and accounting, including Chartered Accountants, Company Secretaries, Tax Professionals, Cost Accountants, and other accounting experts.
Exemptions & Deduction under New Tax Regime for FY 2023-24
2024年4月16日 · The deduction of employer’s contribution to NPS account i.e. under Section 80CCD(2) is allowed under New Regime. There was a limit of 10% of employer’s contribution that has been increased to 14% in new Budget in July 2024.
Income tax slabs for Individuals – FY 2024-25 (New and old tax …
2024年11月11日 · Summary: For the financial year 2024-25, individual income tax slabs in India have been revised, with changes aimed at making the new tax regime more appealing.Under the new regime, income up to ₹3 lakh is tax-free, with progressively higher rates up to 30% for incomes above ₹15 lakh. Key changes include a raised standard deduction of ₹75,000 for salaried individuals, an increased family ...
All About Old & New Tax Regime FY 2023-24 (AY 2024-25) - Tax …
2024年5月12日 · Old Tax regime offers various deductions and exemptions to claims like Section 80C, HRA, LTA, and more. Which Tax Regime is Better? This decision to choose between new or old tax regime depends on several factors like: – Simplicity, Income level, deductions and exemptions. The new regime will be advantageous when total deductions are less than 5 lakhs.
F.Y. 2023-24; A.Y. 2024-25 – Default New Tax Regime - Tax Guru
2024年1月11日 · Introduction: The fiscal year 2023-24 has witnessed significant amendments to the tax regime, unveiling a host of changes that impact individuals’ financial landscapes.In this comprehensive article, we delve into the intricacies of the altered tax structure, offering insights into revised slab rates, deductions, and the ongoing debate between the old and new tax regimes.
The Five Heads of Income Tax in India - Tax Guru
2023年6月2日 · Understand the intricacies of the Five Heads of Income Tax in India as per the Income Tax Act, 1961. From Income from Salaries and Income from House Property to Profits and Gains of Business or Profession, Income from Capital Gains, and Income from Other Sources, each head has distinct rules and tax treatment.
Income Tax Rates for FY 2021-22 (AY 2022-23) & FY 2022-23
2022年2月4日 · Note 1: The enhanced surcharge of 25% & 37%, as the case may be, is not levied, from income chargeable to tax under sections 115AD(1)(b),111A, 112A and Dividend Income.Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%, except when the income is taxable under section 115A, 115AB, 115AC, 115ACA and 115E.
Income Tax Rates For FY 2022-23 & 2023-24 i.e. AY 2023-24
2023年9月9日 · Note: The enhanced surcharge of 25% or 37% is not levied, on income by way of dividend or from income chargeable to tax under sections 111A, 112, 112A and 115AD(1)(b).Hence, the maximum rate of surcharge on tax payable on such incomes shall be 15%. Also, the surcharge rate for AOP with all members as a company, shall be capped at 15%.
Budget 2024-25: Changes under Income Tax Law - Tax Guru
2024年7月24日 · As a result of these changes, a salaried employee in the new tax regime stands to save up to ₹ 17,500/- in income tax. 2. Increase of Standard Deduction for salaried person from Rs. 50,000/- to Rs. 75,000/-
Step-by-Step: Filing ITR-2 with Salary and Capital Gains for FY …
2024年7月8日 · Filing your Income Tax Return (ITR) can be straightforward if you follow the correct steps. This guide will walk you through filing ITR-2 online for the Financial Year 2023-24 (Assessment Year 2024-25), especially if you have salary income, capital gains, and …