Income Tax Rates for FY 2023-24 (AY 2024-25) - Tax Guru
Feb 7, 2023 · This article summarizes Income Tax Rates, Surcharge, Health & Education Cess, Special rates, and rebate/relief applicable to various categories of Persons viz. Individuals (Resident & Non Resident), HUF, Firms/LLP, Companies, Co-operative Society, Local Authority, AOP, BOI, artificial juridical persons for income liable to tax in the Financial Year 2023-24 (Assessment Year 2024-25) as proposed ...
TCS on Sale of Goods under Section 206C(1H) with FAQs - Tax Guru
Dec 19, 2022 · Vide Finance Act, 2020, a new TCS provision was introduced with the insertion of sub-section (1H) to section 206C of the Income Tax Act, 1961.The said provision deals with TCS collection on the sale of goods. The present article briefly provides an analysis of the provisions of TCS on the Sale of Goods; understanding of important terms like …
Financial Statements-Schedule-III – Companies Act, 2013 - Tax Guru
Apr 23, 2015 · (ii) Once a unit of measurement is used, it shall be used uniformly in the Financial Statements.(5) Except in the case of the first Financial Statements laid before the Company (after its incorporation) the corresponding amounts (comparatives) for the immediately preceding reporting period for all items shown in the Financial Statements including notes …
All about Tax Deducted at Source (TDS) - Tax Guru
Aug 6, 2018 · Let us take an example of TDS assuming the nature of payment is professional fees on which specified rate is 10%. Uflex Ltd makes a payment of Rs 60,000/- towards professional fees to Mr. Shyam Agarwal (Chartered Accountant), then Uflex Ltd shall deduct a tax of Rs 6,000/- and make a net payment of Rs 54,000/- (60,000/- deducted by Rs 6,000/-) …
Updated extended GST Due Date Chart - Tax Guru
Jul 2, 2020 · Note 1: If the registered persons fail to furnish Form GSTR-3B returns for the tax periods according to the condition mentioned in the Table 1(a) and (b) above, but furnish the returns till the 30th day of September, 2020, the total amount of late fee payable shall be completely waived if the tax payable is NIL and shall be …
Gratuity: Meaning, Calculation, Applicability and Taxation - Tax Guru
Nov 3, 2023 · Contact details +919930009415 / [email protected].A fellow member of ICAI with an experience of more than 15 years specializes in Auditing, Income tax, service tax and company law matters.
Guide to GST Registration: Eligibility, Benefits & Documents - Tax …
Jan 8, 2024 · GST stands for Goods and Services Tax. It is a comprehensive indirect tax that came into force in the year 2016 and is levied on the supply of goods and services at each stage of the production and distribution chain.
Taxability of Salary Income, Perquisites & Allowances - Tax Guru
Mar 18, 2020 · 1. What Does “Salary” Include. Section 17(1) of the Income tax Act gives an inclusive and not exhaustive definition of “Salaries” including therein (i) Wages (ii) Annuity or pension (iii) Gratuity (iv) Fees, Commission, perquisites or profits in lieu of salary (v) Advance of Salary (vi) Amount transferred from unrecognized provident fund …
Complete List of Items and Services exempted under GST - Tax Guru
Apr 14, 2018 · List of Services exempt from GST Exemptions from GST (Health Care Services) 1. Health care services provided by clinical establishments or medical practitioner or paramedics are exempted under GST. 2. Services provided by way of transportation of patients in an ambulance, other than covered in (a).. 3. Services provided by cord blood banks by way of preservation of stem cells or any other ...
List of Allowances/Perquisites/Deductions available to salaried …
Oct 21, 2020 · Motor car is used partly in the performance of duties and partly for personal purposes –-Engine capacity upto 1600 cc = Rs. 1800/- p.m (plus Rs. 900 per month, if chauffeur is also provided to run the motor car)