- New Indirect Tax: Government is all set to implement Goods and Service Tax (GST) from July 1.
- New Tax on Non STT (Securities Transaction Tax) transaction : Captial Gain tax will be applicable on profit on sale of shares acquired without paying STT.
- New ITR 1: New one page ITR 1 has been introduced (form in which tax return are submitted for salaried person having income less than Rs 50 lacs and only one property)
- New tax rates for individual:
|
Old Slab
|
New Slab
|
||
|
Income Slab
|
Rate
|
Income Slab
|
Revised Rate
|
|
<
250000
|
No Tax
|
<
250000
|
No Tax
|
|
250000-500000
|
10%
|
250000-500000
|
5 %
|
|
500000-1000000
|
20% of amount exceeding 500000 + 25000
|
500000-1000000
|
20% of amount exceeding 500000 + 12500
|
|
> 1000000
|
30% of amount exceeding 1000000 + 125000
|
> 1000000
|
30% of amount exceeding 1000000 + 112500
|
No comments:
Post a Comment