Procedure for Filing Form-1 Under DTVSVS 2024 - Tax Guru
Sep 30, 2024 · 2. Online filing of Form -1: i. All the declarants filing declaration under sub-section (1) of section 91 of The Direct Tax Vivad Se Vishwas Scheme, 2024 are required to file the declaration and undertaking referred to in sub-section (4) of section 91, in Form-1, online on the e-Filing portal of the Department: https://www.incometax.gov.in.
New Slabs of Income Tax For Assessment Year 2024-25 And 2025 …
Sep 22, 2024 · Summary: The Income Tax Act, 1961, initially had uniform tax slabs for different categories of taxpayers.However, the Finance Act, 2020, introduced Section 115BAC, offering individual and HUF taxpayers a choice between new and old tax regimes.
Deductions Allowed under Old and New Tax Regime with Latest …
Mar 31, 2024 · In the Indian tax system, deductions play a crucial role in reducing the taxable income of individuals. With the introduction of the new tax regime from April 1, 2023, there have been changes in the deductions allowed compared to the old tax regime.
Exemption under capital Gain: Section 54, 54B, 54D, 54EC ... - Tax …
Apr 3, 2024 · Conclusion: Exemptions under capital gains, as outlined in sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA, offer valuable tax-saving opportunities to individuals and entities.By understanding the nuances of each section, taxpayers can strategically plan asset transactions to minimize tax liabilities. Adherence to eligibility criteria, time limits, and deposit scheme requirements is essential ...
House Rent Allowance (HRA) Rules and calculations - Tax Guru
Apr 23, 2024 · any special allowance specifically granted to an assessee by his employer to meet expenditure actually incurred on payment of rent (by whatever name called) in respect of residential accommodation occupied by the assessee, to such extent as may be prescribed having regard to the area or place in which such accommodation is situate …
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.
Govt notifies GST effective dates of 44 Changes in GST Law
Sep 30, 2024 · GST changes vide Finance Act (No. 2) 2024; All effective dates notified of total 44 Changes in GST Law. The Ministry of Finance, via Notification No. 17/2024–Central Tax dated September 27, 2024, has notified the effective dates for 44 changes in the Goods and Services Tax (GST) law under the Finance (No. 2) Act, 2024.Key provisions, including sections 118, 142, 148, and 150, will take ...
All You Need to Know About Old Regime Vs New Tax Regime
Mar 18, 2024 · However, there will be additional Health and Education Cess (HEC) and Surcharge will be levied on the above tax rates. The new tax regime provides different tax rates ranging from 5% to 30%.
All About Hindu Undivided Family (HUF) - Tax Guru
Dec 7, 2022 · Discover all about Hindu Undivided Family (HUF) formation, evaluation, tax planning, and more. Understand the criteria and limitations of a Joint Hindu Family Business.
Reversal of ITC under Rule 42 of CGST Rules - Tax Guru
Mar 11, 2023 · Specific Credit: ITC that can be specifically attributable to a supply either taxable or non-taxable, or for supply consumed for personal use or non-business use.This ITC is easily identifiable to a particular supply. Common Credit: ITC amount that cannot be attributable to a specific supply but is used partly for making taxable supply and partly for non-taxable supply or partly used for ...