WebFeb 2, 2024 · Income Tax Deductions List FY 2024-21 AY 2024-22. New Tax Regime Best Income Tax Saving Options 2024. Income Tax Benefits Rebate Exemptions. ... (Life Insurance Corporation of India) ... Section 80TTA of Income Tax Act offers deductions on interest income earned from savings bank deposit of up to Rs 10,000. From FY 2024-19, … WebApr 7, 2024 · This provision is effected from 1 st April 2024. Finance Act, 2024 amended section 115BBDA to exclude any trust or institution registered under section 12AB from the list of the specified assessees being subjected to the tax at 10% on dividend income exceeding Rs. 10 lakh in aggregate.
Finance Act (India) - Wikipedia
Web1 day ago · He thereafter vide order dated 16.03.2024 passed u/s. 271 (1) (c) of the Act, levied penalty of Rs. 3,21,45,230/-. CIT (A) deleted the penalty. Accordingly, being aggrieved, revenue has preferred the present appeal. Conclusion- We find that the CIT (A) after considering the submissions of the assessee has given a finding that assessee was ... WebFeb 1, 2024 · The Income Tax Act is not only provides provisions for imposing taxes on the income of citizens but also offers number of ways through which one can claim deductions and rebates. The deductions are allowed based on the way the taxpayers spend their income. One such deduction offered to salaried individuals is the standard deduction. birchwood bluetooth speaker
Income Tax Allowances and Deductions Allowed to Salaried …
WebDec 22, 2024 · Tax @2% is to be withheld in case the company is engaged in business of operation of call centres. Important point for consideration: Finance Act, 2024 has prescribed a levy of higher tax deducted at source (TDS) and tax collected at source (TCS) on non-filers of income tax returns. WebTHE TAXATION LAWS (AMENDMENT) ACT, 2024 N O. 34 OF 2024 [13 th August , 2024.] An Act further to amend the Income-tax Act, 1961 and the Finance Act, 2012. B E it enacted … WebApr 14, 2024 · The Income Tax Act was enacted in the year 1961 and is the statute under which everything related to taxation is listed. This includes levy, collection, administration … birchwood blt