Web9 apr. 2024 · A taxpayer with a yearly income of Rs. 9 lakhs will have to pay Rs. 45,000 in taxes The tax on income of Rs. 15 lakhs will be Rs. 1.5 lakh, which has been decreased from Rs. 1.87 lakh Under the new regime, a standard deduction of … Web11 apr. 2024 · The I-T exemption has been given retrospectively from the financial year 2024-2024 (for the period from June 1, 2024 to March 31, 2024) and for the fiscal years 2024-22, and 2024-23.
Michelle Cook - Independent FD - Indian Summer …
Web22 feb. 2024 · The assessment year for an individual starts on the 1st of April of a particular financial year and ends on the 31st of March of the next financial year. Assessment … WebIn India, this 1 year period starts from 1 st April and ends on 31 st March. This period in which the income is earned is known as the Financial Year or Fiscal Year. The income … download chat gpt ai
Fiscal year - Wikipedia
Web14 apr. 2024 · The new Indian Tax Act gives the benefit of a reduced corporate tax rate to certain domestic companies. It states that domestic companies have the option to pay tax at the rate of 22% (plus applicable surcharge and cess) from FY 2024-20 (AY 2024-21) onwards if such domestic companies adhere to certain conditions. WebA fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes.It is also used for … Web25 apr. 2024 · Last updated: Mon Apr 25 2024. Ingressing into FY2024-23 and as per the last Union budget presented by Finance Minister Nirmala Sitharaman, new income tax rules will be applicable on what you earn this year. Although now you will be filing ITR for FY 2024-22 and don’t need to worry about the new tax rules, you should plan all your … download chatgpt for mac