Tag: Individuals

Income tax rates/slabs applicable for NRIs, HUFs, AOPs, BOIs, and AJPs, in respect of AY 2023-24, along with rates of surcharge, HEC, AMT, etc..

Explore about the Health and Education Cess Rates applicable under the Income Tax in respect of AY 2023-24 for all types of assessees and taxation schemes.

The rates/slabs of normal income tax, surcharge, HEC and AMT along with the basic exemption limit, applicable for resident individuals (AY 2023-24).

Discover about the Income Tax Rebate available to Resident Individuals in respect of AY 2023-24 & AY 2024-25 u/s 87A of the Income Tax Act, 1961.

Explore the rates of income tax, surcharge, HEC under new tax regime for Individuals, HUFs, AOPs, BOIs & AJPs in respect of AY 2023-24/2024-25.

Surcharge on income tax is payable if taxable income of a taxpayer exceeds a specified threshold limit during the AY 2023-24, like Rs 50 lacs in the case of …

Explore the concept of Alternate Minimum Tax (AMT) applicable to non-corporate taxpayers benefiting from deductions and exemptions from the perspective of provisions for AY 2023-24.

As per Section 2(29C) of Income Tax Act, 1961, unless the context otherwise requires, the term “maximum marginal rate” means the rate of income-tax (including surcharge on income-tax, if …

The residential status of a person, i.e. whether they are resident or non-resident, has a significant financial impact on the tax liability of the concerned assessee; therefore, it is …

Find out what constitutes a 'person' under Section 2(31) of the Income Tax Act in India and what it means for tax purposes.