TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Tax Regimes: Sections 115BAC and 115BAD Offer Reduced Rates for Individuals, HUFs, and Cooperative Societies</h1> Sections 115BAC and 115BAD, effective from April 1, 2021, introduce new tax regimes for individuals, Hindu undivided families, and resident cooperative societies. Section 115BAC allows individuals and Hindu undivided families to opt for reduced tax rates without certain exemptions or deductions. Tax rates range from nil for income up to 2,50,000 to 30% for income above 15,00,000. Section 115BAD offers a 22% tax rate for cooperative societies, excluding certain deductions. Both sections require the option to be exercised in a prescribed manner, and once chosen, it generally applies to subsequent years unless specific conditions are unmet.
TaxTMI 
TaxTMI 
