Recent budget proposed a decreased pace of tax for
the individuals and HUF's under Section 115BAC. Under this Section, an
alternative has been given to individuals and HUF to pay tax at lower rates,
subject to satisfaction of certain conditions. One of the conditions is that
individual settling on the diminished pace of tax won't be qualified to
guarantee certain exclusions and deductions. Rundown of such exclusion and
the deduction that won't be accessible are as under:
Thursday, 27 August 2020
Tuesday, 25 August 2020
Monday, 24 August 2020
The new income tax regime announced in Budget,
give an option to individuals and Hindu Unified Families (HUFs) to be taxed at
lower rates on the off chance that they don't profit determined exclusions and reasoning’s
Saturday, 22 August 2020
When a new tax regime
was reported in Money Bill, 2020
people got inquisitive and began calling their specialists to ask what
tax regime they ought to pick and what is the new tax regime and is it
for
everybody or not.
Friday, 21 August 2020
From F.Y 2020-21, you can decide to pay income tax
under an optional new tax regime. As per Income Tax Section 115 BAC, the new tax
regime is allowable for people and HUFs. Poor tax slab has no deductions or exclusions
is the key element. Arrangements of the new tax regime are secured under section
115BAC.
Tuesday, 18 August 2020
Section 80C of Income Tax Act, 1961 discussions about
findings of tax. The Section 80C straightforwardly lessens the taxable income
due to the section 80C the tax obligation descends definitely.
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