Tag: Partnership Firms

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.

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 …

The rates of income tax, surcharge, HEC and AMT, applicable in the case of partnership firms/LLPs in India in respect of AY 2023-24.

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.

Meaning of the terms ‘Partner’, ‘Partnership’ & ‘Firm’ under Section 2(23) of the Income Tax Act: a) Definition of ‘Firm’ – Section 2(23)(i) Income Tax As per Section 2(23)(i) …

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

For AY 2022–23, assessees can claim marginal relief from the surcharge on income tax to mitigate the effect of the additional tax burden that is over and above the …