WebApr 5, 2024 · New Scheme of Taxation U/S 115BAC of Income Tax Act, 1961 A new scheme of taxation has been introduced by the Finance Act ,2024 by insertion of a new Section 115BAC. The basic feature of this new tax regime is lower tax rates as compared to existing slab rates but on the other hand the assessee has to forego around 70 exemptions and … WebApr 15, 2024 · In Civil Appeal No. 4822 Of 2024 [@Slp (C) No. 17539 Of 2016] – SC-Profit earned from Duty Entitlement Pass Book Scheme/Duty Drawback Scheme is not entitled …
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WebFeb 5, 2024 · The Indian government had announced an income-tax amnesty scheme in 2016 and provided an opportunity to defaulters to declare assets, pay 45% tax along with additional penalty. An analysis of the new provisions proposed in Budget 2024 governing the updated return throw light on some finer aspects of Section 139 (8A) which enable filing … WebHere is the income tax deductions list FY 2024-23. Deductions under section 80C, 80D. Useful for salaried employees tax planning. Check chart ... Sukanya samriddhi, senior citizens savings scheme, NSC. 5-year term deposit, life insurance or ULIP premium, principal repayment of home loan, stamp duty paid towards house purchase, children’s ... image of a panel discussion
How to Save Income Tax in 2024-23 Tax Saving Guide - ET Money
WebJul 29, 2024 · However, on 5-4-2024 the Central Board of Direct Taxes (CBDT) issued a notification 3 (notification) introducing an e-Dispute Resolution Scheme (Scheme) which is made applicable to the dispute … WebApr 13, 2024 · The Income Tax Department has released JSON Schema for ITR 1 and ITR 4 for the Assessment Year 2024-24 (corresponding to the Financial Year 2024-23). ... A presumptive income scheme is when the income is calculated based on a minimum rate calculated as a percentage of gross receipts or gross turnover or based on ownership of … Webthe Income Tax Act 1967 [Act 53], the Minister makes the following rules: Citation and commencement 1. (1) These rules may be cited as the Income Tax (Relocation of Provision of Services Business Incentive Scheme) Rules 2024. (2) These Rules have effect from the year of assessment 2024. Application 2. image of a pocket watch