TDS Rate Chart (FY 2024-25; AY 2025-26) - Tax Guru
Mar 29, 2024 · Stay compliant with TDS regulations as in case of non-deduction or wrong deduction and even deduction under wrong TDS section could attract huge penalties. It’s important that businesses know the applicable rate, TDS section and exempt limit for each nature of payment. This comprehensive TDS rate chart for FY 2024-25 provides detailed information on thresholds, rates, and applicable sections ...
Income Tax Rates for FY 2023-24 (AY 2024-25) - Tax Guru
Feb 7, 2023 · This article summarizes Income Tax Rates, Surcharge, Health & Education Cess, Special rates, and rebate/relief applicable to various categories of Persons viz. Individuals (Resident & Non Resident), HUF, Firms/LLP, Companies, Co-operative Society, Local Authority, AOP, BOI, artificial juridical persons for income liable to tax in the Financial Year 2023-24 (Assessment Year 2024-25) as proposed ...
Exemptions & Deduction under New Tax Regime for FY 2023-24
Apr 16, 2024 · 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.
New vs Old Regime Income Tax Calculator for FY 2024-25/AY …
Apr 7, 2024 · Salaried Employees-Simplified New vs Old Regime Income Tax Calculator for the FY 2024-25/AY 2025-26: This Income Tax Calculator aims to simplify the comparison between the new and old income tax regimes for FY 2024-25/AY 2025-26.
Income Tax Rates For FY 2022-23 & 2023-24 i.e. AY 2023-24
Sep 9, 2023 · 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%.
Exemption under capital Gain: Section 54, 54B, 54D, 54EC ... - Tax …
Apr 3, 2024 · Conclusion: Exemptions under capital gains, as outlined in sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA, offer valuable tax-saving opportunities to individuals and entities.By understanding the nuances of each section, taxpayers can strategically plan asset transactions to minimize tax liabilities. Adherence to eligibility criteria, time limits, and deposit scheme requirements is essential ...
All About Hindu Undivided Family (HUF) - Tax Guru
Dec 7, 2022 · Discover all about Hindu Undivided Family (HUF) formation, evaluation, tax planning, and more. Understand the criteria and limitations of a Joint Hindu Family Business.
Deductions Allowed under Old and New Tax Regime with Latest …
Mar 31, 2024 · In the Indian tax system, deductions play a crucial role in reducing the taxable income of individuals. With the introduction of the new tax regime from April 1, 2023, there have been changes in the deductions allowed compared to the old tax regime.
Gratuity: Meaning, Calculation, Applicability and Taxation - Tax Guru
Nov 3, 2023 · Contact details +919930009415 / [email protected]. A fellow member of ICAI with an experience of more than 15 years specializes in Auditing, Income tax, service tax and company law matters.
Financial Statements-Schedule-III – Companies Act, 2013 - Tax Guru
Apr 23, 2015 · (ii) Once a unit of measurement is used, it shall be used uniformly in the Financial Statements.(5) Except in the case of the first Financial Statements laid before the Company (after its incorporation) the corresponding amounts (comparatives) for the immediately preceding reporting period for all items shown in the Financial Statements including notes …