In the recent past, did you make a remittance outside India under the LRS scheme for your child’s education or book an overseas tour package? They will be able to claim TCS credit against the TDS deduction on their salary. Proposal for allowing credit of all TCS and TDS paid During her Budget 2024 speech, the Finance Minister proposed that …
Altering the structure for taxation of income under the new regime, Finance Minister Nirmala Sitharaman on Tuesday revised the tax slabs whilst retaining the erstwhile corresponding tax rates other than increasing the standard deductions. The two measures combined, she stated, would provide relief to “about four crore salaried individuals and pensioners.” More under new regime According to Deepashree Shetty, Partner …
The Interim Budget 2024 looms just days away, and a wave of expectations is sweeping across various sections of taxpayers, particularly the middle-class, with hopes of significant tax reliefs. Now, after nearly five years, there is a growing call for parity between businessmen and professionals, urging an official expense standard deduction of at least Rs 1,00,000 in 2024. To bring …
Budget 2021 Taxpayer Expectations: With the common man bearing the brunt of Covid-19 in 2020, now all eyes are set on the annual budget to be presented by finance minister Nirmala Sitharaman on February 1, 2021. The current tax slabs are NIL for those earning between Rs 0-2,50,000: 5 percent for income between Rs 2.5-5 lakh Rs 5 lakh-Rs 7.5 …