(8 min Read) Section 115BBJ. How do I pay tax on online game? (Tax on online gamming) After section 115BBI of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2024, namely:––Tax on winnings from online games.‘115BBJ. (Tax on online gamming) Notwithstanding anything contained in any other … Read more
Comparative Income Tax Calculator Earlier Income tax calculator was provided by Income Tax Department was having drop down menu specifying selection of Yes or No as option to the assesses. This Yes or No options is stand for whether assesses want to select new scheme or old scheme for income tax calculation purpose. In this … Read more
(Read 4 Min) Section 80CCH – Contribution to Agnipath Scheme After section 80CCG of the Income-tax Act, the following section shall be inserted, namely:–– Deduction in respect of contribution to Agnipath Scheme. ‘80CCH. (1) Where an assessee, being an individual enrolled in the Agnipath Scheme and subscribing to theAgniveer Corpus Fund on or after … Read more
Debentures Capital Gains Tax After section 50A the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2024, namely:–– Special provision for computation of capital gains in case of Market Linked Debenture(MLDs). Sec.50AA. Notwithstanding anything contained in clause (42A) of section 2 or section 48, where … Read more
Taxation on Electronic Gold Receipt… Amendment in Section 2 for FY 2023 24. (hi) in the case of a capital asset, being–– (a) Electronic Gold Receipt issued in respect of gold deposited as referred to in clause (viid) of section 47, there shall be included the period for which such gold was held … Read more
How compute tax when your total income contains agriculture income ?? Insight of Agriculture Income Tax It is well establish fact that government announce many key productive benefits to farmers as part of green revolution aim. Even in latest budget for FY 2023 24 major focus is on sustainable growth of rural India by passing … Read more
Benefits for opting new personal tax regime (Section 115BAC) Welcome Patrons!!! Get your self ready for upcoming FY 2023-24. Understand the tax slabs and Plan your finance and save money wisely. Key Benefits to opt in new regime from 01.04.2023 Slab wise tax saving Comparison:- Income (Rs) FY 2022-23(Rs) FY 2023-24(Rs) … Read more