Individuals and HUF (Option A) and AOP, BOI, AJP On the below tax, surcharge is applicable at following rates, based on total income: (flat rates) Up to..
Day: February 24, 2021
Budget 2021 – How Tax Assessments have changed
Reduction in the time limit for completing an assessment The time limit for completion of assessment, reassessment and re-computation and for passing an order under section 143..
Budget 2021 – Changes in Income Tax Law
No change in rates of taxation There are no changes in respect of income of all categories of assessee liable to tax for the financial year 2021-22…
Budget 2021 – Changes in Goods and Services Tax
No Input Tax Credit if a supplier has not filed returns Section 16 allows taxpayers’ to claim an input tax credit based on GSTR-2A and 2B. However,..
Budget 2021 – Changes in Customs and Excise
New Agriculture Cess on Petrol and High Speed Diesel Government has introduced a new Agriculture Infrastructure and Development Cess (AIDC) as an additional duty of excise on..