Tag: AOP/BOI

Find out what constitutes a 'person' under Section 2(31) of the Income Tax Act in India and what it means for tax purposes.

Explore about the Health and Education Cess Rates applicable under the Income Tax in respect of AY 2024-25 for all types of assessees and taxation schemes.

Explore the concept of Alternate Minimum Tax (AMT) which ensures fair share of tax liability for non-corporate taxpayers availing deductions and exemptions.

Income tax rates/slabs applicable for NRIs, HUFs, AOPs, BOIs, and AJPs, in respect of AY 2023-24, along with rates of surcharge, HEC, AMT, etc..

Explore the rates of income tax, surcharge, HEC under new tax regime for Individuals, HUFs, AOPs, BOIs & AJPs in respect of AY 2023-24/2024-25.

Surcharge on income tax is payable if taxable income of a taxpayer exceeds a specified threshold limit during the AY 2023-24, like Rs 50 lacs in the case of …

For AY 2022–23, assessees can claim marginal relief from the surcharge on income tax to mitigate the effect of the additional tax burden that is over and above the …