Web9 hours ago · In wake of reports of fresh violence, authorities imposed an indefinite curfew in Sambalpur and extended the ban on Internet services. Pravash Chandra Dandasana, the Sub Collector and Sub-district Magistrate of Sadar, Sambalpur in an official order on Friday said that the decision was taken after "receiving input on the current situation prevailing in … WebOct 11, 2024 · The major tax enactment in India is the Income Tax Act, 1961 passed by the Parliament, which imposes a tax on the income of persons. This Act imposes a tax on income under the following five heads:
Customs Act: Penalty cannot be imposed on mere Contradictory …
WebApr 8, 2024 · The Punjab and Haryana High Court imposed a fine of Rs. 50,000 on the Income Tax Officer for not passing a reasoned order. Pr. CIT v. Supermax Personal Care Pvt. Ltd., (2024) 312 CTR (Del) 558: In this case, the Delhi High Court imposed a fine of Rs. 25,000 on an income tax officer for violating the principles of natural justice. The slab rates applicable to individuals for tax year 2024/22 are as follows: The basic exemption limit for resident individuals who are 60 years of age or more but less than 80 years of age at any time during the tax year is INR 300,000. For resident individuals who are 80 years of age or more, it is INR 500,000. See more Effective 1 April 2024, an optional APTR, devoid of any deductions or exemptions, has been introduced with lower tax rates spread across six income levels as provided below: … See more Health and education cess at the rate of 4% of the income tax and surcharge (if applicable) will be levied to compute the effective tax rate of … See more In addition to the income-tax, a surcharge is to be levied where the total income of individuals exceeds INR 5 million, as follows: However, on income arising on account of long-term capital gains, the rate of surcharge … See more Resident individuals are eligible for a tax rebate of the lower of the income-tax or INR 12,500 where the total income does not exceed INR 500,000. See more blackadder goes forth pencil up nose
What is Direct Tax? - Direct Tax Types, Rates and Advantages
Web7 hours ago · Curfew was imposed on Sambalpur city and the Odisha Government extended internet suspension by another 48 hours on Saturday after sporadic overnight violence … WebTaxes which are paid directly by individuals and organisations to the government of India come under Direct Tax. Taxes which are paid under Direct Tax include, Personal Income … Web2 days ago · This new format would be used starting on May 1, 2024, to give taxpayers enough time to comply with this requirement. Businesses with turnover of Rs 100 crore … dauntsey parish church