Web12 Feb 2024 · ereas earlier under section 115BAC slab rates were different. · Maximum tax along with surcharge is 39% · Earlier higher surcharge rate was 37% but now it decreased to 25% · There is a huge relief for the middle class, no income tax till 7 … Web14 hours ago · 2. Salient Features of New Tax Regime The introduction of the new tax regime was made vide Finance Act, 2024 applicable from 1st April 2024 under section 115BAC for individual and Hindu Undivided Family (HUF). The compulsory requirement of foregoing specified deductions for opting for the new regime has somewhat, made the …
Personal Income-tax Calculator - KPMG India
WebFirst important tax activity for the year for an employee - Select old tax regime or new tax regime As per the Finance Act’2024, the new tax regime shall be… Web11 Jan 2024 · 11 January 2024. Income Tax. From the financial year 2024-21, an optional tax regime came into existence. The Budget of 2024 specifies this new regime under … blue bird bus fe interior
Section 115BAC of Income Tax Act - Digit Insurance
WebProposed changes specific to section 115BAC under Finance bill 2024 (i) Enhancement of basic exemption limit from INR 2.5 lakh to INR 3 lakh and also changes in the Income tax … Web10 Apr 2024 · The Notification No. 06/2024 – Central Tax, issued on 31st March 2024, specifies a special procedure for registered persons who have failed to furnish a valid return within 30 days from the service of the assessment order issued on or before 28th February 2024, under sub-section (1) of section 62 of the Central Goods and Services Tax Act ... Web8 Apr 2024 · The Section 115 BAC of the Income Tax Act, 1961, has been amended vide Finance Act, 2024 sub-section (1A) to provide for a new tax regime with effect from the assessment year beginning on or after the 1st day of April, 2024. blue bird bus indonesia