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Budget 2021 - New Income Tax Slabs for 2022

Individuals and HUF (Option A) and AOP, BOI, AJP On the above tax, surcharge is applicable at following rates, based on total income: (flat rates)Up to 50 lakh – Nil, 50 lakh to 1 crore – 10%, above 1 crore – 15% Individuals and HUF…
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Budget 2021 – How Tax Assessments have changed

Reduction in the time limit for completing an assessment The time limit for completion of assessment, reassessment and re-computation and for passing an order under section 143 or 144 commonly referred as ‘Scrutiny assessment’ was earlier…
Finance insurance and safety concept.

Budget 2021 – Changes in Income Tax Law

No change in rates of taxation There are no changes in respect of income of all categories of assessee liable to tax for the financial year 2021-22. The rates of income shall continue to be the same as applicable for the financial year 2020-21.…
Piggy Bank Wearing A Surgical Mask

Introducing corporate houses in our banking system. But why?

In 2016, Jio entered the country’s telecom sector. Unlike other business startups, the company had abundant finances to support not just its expensive telecom infrastructure and license but also to offer deep discounts at its own cost to topple…
IT Department

When the Income Tax Department raids your place

On a fine morning, you are on your bed, half asleep, lazing around wishing if somebody could drop by your favourite coffee along with the Newspaper to read. When you hear the birds chirping happily, you look around to find mesmerizing sunbeams…