TaxTMI Login
Just a moment...
By creating an account you can:
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 TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income Tax Rate for Local Authorities Unchanged; 12% Surcharge for Income Over Rs. 1 Crore in Finance Bill 2024.</h1> The Union Budget 2024-25 maintains the income-tax rate for local authorities as specified in the previous fiscal year. A surcharge of 12% will apply to local authorities with a total income exceeding one crore rupees. The combined income-tax and surcharge will be capped, ensuring it does not surpass the amount payable on an income of one crore rupees by more than the excess income over one crore rupees. These provisions are detailed in Paragraph D of Part III of the First Schedule of the Finance Bill, 2024.
TaxTMI 
TaxTMI 