Budget: Exempt entities like non-profits face hurdles due to TCS on transactions. Govt can notify exemptions/lower TCS rates for them. Effective Oct '...
Budget: Amendments clarify penalties for inaccurate info/non-compliance with due diligence under AEoI. Rs. 50K fine for errors/failures. Defense allow...
Income tax relief proposed for salaried individuals and pensioners opting for new tax regime. Standard deduction for salaried employees increased from Rs. 50,000 to Rs. 75,000. Deduction on family pension for pensioners enhanced from Rs. 15,000 to Rs. 25,000. Revised tax rate structure with rebate up to Rs. 7 lakh income. Salaried employee to save up to Rs. 17,500 annually.
Income tax relief proposed for salaried individuals and pensioners opting for new tax regime. Standard deduction for salaried employees increased from Rs. 50,000 to Rs. 75,000. Deduction on family pension for pensioners enhanced from Rs. 15,000 to Rs. 25,000. Revised tax rate structure with rebate up to Rs. 7 lakh income. Salaried employee to save up to Rs. 17,500 annually.
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