The standard deduction for salary income in India was abolished in the Finance Act of 2005-06. At that time, the standard deduction was removed as part of the government's efforts to simplify the tax structure.
The Income Tax Act has various provisions for an individual to take benefit of and claim deductions for tax purposes. These deductions are an incentive for individuals to make residential real estate purchases.
Starting a business in India requires the promoters to consider many things. One of the important factors to decide is the structure of the entity. Here is the rundown of the various options.
The process for filling out an Aadhaar Card Enrolment form has been explained in this article
The Goods and Services Tax, GST is the indirect tax applicable in India on the purchase of goods and services. The GST Council is tasked with the responsibility of recommending to Unions and States on important issues, including the goods and services that are to be exempted from GST.
Dearness Allowance is the additional payment the Government and Public Sector Entities make to their Employees and Pensioners. The intent is to mitigate the effect of rising inflation.
This article covers steps to Calculate Income Tax on Salary for FY 23-24 followed by an Illustration considering both Old and New Regime!
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)