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Category: Advance Tax

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Advance Tax Business, Professional & Freelance Capital Gains Income Efiling Income Tax Return House Property HUF Income Tax e-Filing Income Tax Notices Income Tax Refunds Income Tax Slabs FY 2023-24 Last Date To File ITR For 2022-23 NRI Other income sources Paying Tax Due Salary Income Which Is Better: Old vs New Tax Regime For Salaried Employees?

HIGHLIGHTS OF THE 50TH GST COUNCIL MEETING

50th-gst-council-meeting-update
50th-gst-council-meeting-update
     
GST Council recommends Casino, Horse Racing and Online gaming to be taxed at the uniform rate of 28% on full face value GST Council recommends notification of GST Appellate Tribunal by the Centre with effect from 01.08.2023 GST Council recommends IGST exemption for Dinutuximab (Quarziba), medicines and Food for Special Medical Purposes (FSMP) when imported for personal use subject to existing conditions. Recommends extension of exemption to FSMP imported by Centres of Excellence for Rare Diseases or any institution or person on recommendation of such listed Centres of Excellence.
Categories
Advance Tax Business, Professional & Freelance Capital Gains Income Efiling Income Tax Return House Property HUF Income Tax e-Filing Income Tax Notices Income Tax Refunds Income Tax Slabs FY 2023-24 Last Date To File ITR For 2022-23 NRI Other income sources Paying Tax Due Salary Income Which Is Better: Old vs New Tax Regime For Salaried Employees?

Comptation of total income and tax payable by an individual – step by step procedure

Computation Of Total Income
Computation Of Total Income
     
Income-tax is levied on an assessee’s total income. Such total income has to be computed as per the provisions contained in the Income-tax Act, 1961. Steps 1 to 8 given hereunder have to be followed for computing the total income of an individual assessee as per the regular provisions of the Income-tax Act, 1961.
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