Financial Year 2020-21
Income Tax Department offers certain tax benefits to senior citizens. An individual between 60 and 80 years is considered a senior citizen person under Income Tax Act, 1961. Here in this post, …
In India, tax laws divide taxpayers into different groups as per their taxable income and levy income tax at different rates. These groups are called Income Tax Slabs. This type of taxation …
In India, tax laws divide taxpayers into different groups as per their taxable income and levy income tax at different rates. These groups are called Income Tax Slabs. This type of taxation …
The new tax regime does not allow the taxpayers to avail themselves of certain deductions and exemptions whereas the old tax regime provides that the taxpayers can claim deductions and exemptions which are available to them.
Before 2012-13, the basic tax exemption limit was segregated for male and female taxpayers. Women enjoyed a higher basic exemption limit when it came to tax payments on their income earned.
In India, tax laws divide taxpayers into different groups as per their taxable income and levy income tax at different rates. These groups are called Income Tax Slabs and rates are called …
The New Income Tax Slab (New Tax Regime) was introduced vide section 115BAC, which is applicable to individual and HUF assessee only and allows them to pay tax at lower rates.
In India, tax laws divide taxpayers into different groups as per their taxable income and levy income tax at different rates. These groups are called Income Tax Slab. This type of taxation …