Tag: Tax Slabs / Rates
In the case of domestic companies, there is no change in the tax rates proposed, in respect of FY 2022-23/ AY 2023-24, as per the Finance Bill 2022. Therefore …
In the case of foreign companies (companies other than the domestic companies), there is no change in the tax rates proposed, in respect of FY 2022-23/ AY 2023-24, as …
A flat Income tax rate of 30% is applicable in the case of Local Authorities, in respect of FY 2020-21/ AY 2021-22, as per the Finance Act, 2020. In …
Income tax rate for Partnership Firms (registered/ unregistered) including Limited Liability Partnerships (LLPs) in respect of FY 2020-21/ AY 2021-22 is 30%, as per Finance Act, 2020. In addition, …
Income Tax Slabs/ Rates applicable for Co-operative Societies in respect of FY 2020-21/ AY 2021-22, as per Finance Act, 2020, are as under: Normal Tax Rates Applicable to Co-operative …
Aggregate amount of Income tax and Surcharge (if applicable) is further subjected to 4% additional tax called 'Health and Education Cess', in respect of FY 2020-21/ Ay 2021-22.
Normal Income Tax Slabs or Rates applicable for Resident Individuals (including for Women Assessees) in respect of FY 2020-21/ AY 2021-22, as per the Finance Act, 2020, under the …
Assessees can claim marginal relief from surcharge on income tax, to mitigate the effect of additional tax burden which is over and above the actual marginal addition in the …
Section 87A of Income Tax Act, 1961 provides for 100% tax rebate if the income tax liability is upto Rs. 12,500, in respect of FY 2020-21/ AY 2021-22, in …
Surcharge on Income Tax is payable if taxable income of a taxpayers exceeds a specified threshold limit during the FY 2020-21/ AY 2021-22.