Reduction or rationalisation of income tax slabs GOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUE RAJYA SABHA UNSTARRED QUESTION NO. 1524TO BE ANSWERED ON TUESDAY, MARCH 15, 2022/PHALGUNA 24, 1943 (SAKA) RATIONALISATION OF INCOME TAX SLABS 1524. SHRI G. C. CHANDRASHEKHAR.Will the Minister of FINANCE be pleased to state: (a) whether Government has assessed the impact … [Read more...] about Rationalisation of Income Tax Slabs – Rajyasabha
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Income Tax Rates
Extension of timelines for filing of Income-tax returns – Year 2021-22
Circular No. 01/2022 F. No. 225/49/2021/ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, dated 11th January 2022 Subject: – Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22– reg. On consideration of difficulties reported by the taxpayers and … [Read more...] about Extension of timelines for filing of Income-tax returns – Year 2021-22
Exercising option for Deduction of TDS under old/New rates of Income Tax(2020-21)
Exercising option for Deduction of TDS under old/New rates of Income Tax(2020-21) No.G-26028/4/2020-CashGovernment of IndiaMinistry of Road Transport &Highways(Cash Section)Transport Bhawan, 1, Parliament Street, New Delhi 110001 Dated 15th May, 2020 CIRCULAR Subject : EXERCISING OPTION FOR DEDUCTION OF TDS UNDER OLD OR NEW RATES OF INCOME TAX FOR THE FY 2020-21 1. The new … [Read more...] about Exercising option for Deduction of TDS under old/New rates of Income Tax(2020-21)
Income-Tax Deduction from Salaries during the Financial Year 2019-2020
Income-Tax Deduction from Salaries during the Financial Year 2019-2020 F.No.275/192/2019-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi the 5th March, 2020 CORRIGENDUM TO CIRCULAR NO.4 OF 2020 DATED 16.01.2020 Subject : Income-Tax Deduction from Salaries during the Financial Year 2019-2020 under Section … [Read more...] about Income-Tax Deduction from Salaries during the Financial Year 2019-2020
New income tax slabs 2020 – 21
New Personal Income Tax Regime heralds significant relief, especially for Middle Class Taxpayers New tax regime to be optional for the taxpayers New rates entail estimated revenue forgone of Rs 40,000 Crore per year In order to provide significant relief to the individual taxpayers and to simplify the Income-Tax law, the Union Budget proposes to bring a new and … [Read more...] about New income tax slabs 2020 – 21