PERSONAL TAXES Points Income threshold for rebate under new tax regime enhanced from INR 700,000 to INR1,200,000 (excluding income taxable at special rates e.g. capital gains, etc.) Deduction of INR 50,000 made available for contribution towards minor’s National Pension Scheme (Vatsalya) account under old tax regime. Partial withdrawal up to 25 per cent […]
Union Budget Highlights (2025-26) Read More »
What is OIDAR service under GST and examples? OIDAR services refer to services delivered through the internet, where the recipient receives the service online without any physical interaction with the service provider. The inclusion of OIDAR services under GST aims to provide a level playing field for domestic service providers in terms of cost.
GST on Import of Software as service Read More »
Finance Minister led 55th GST Council decided to levy higher tax rate on caramel popcorn and exempted gene therapy from the tax ambit. EV Sales: To raise the rate of tax to 18 per cent from 12 per cent on all used EV sales, and it will be applicable only on the value that represents
GST council meeting: What gets cheaper Read More »
Returns and Forms Applicable for Salaried Individuals for AY 2024-25 Disclaimer: The content on this page is only to give an overview and general guidance and is not exhaustive. For complete details and guidelines please refer Income Tax Act, Rules and Notifications. 1. ITR-1 (SAHAJ) – Applicable for Individual This return is applicable for a Resident
Returns and Forms Applicable for Salaried Individuals for AY 2024-25 Read More »
Tax Rates 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Individuals (Other than resident senior and super senior citizen) Net Income Range Rate of Income-tax Assessment Year 2025-26 Assessment Year 2024-25 Up to Rs. 2,50,000 – – Rs.
