Direct Taxes

The Finance Bill proposes to provide an option to an Individual / HUF either to pay tax as per existing tax rates or at concessional tax rates subject to the prescribed conditions. AOP / BOI / Artificial Juridical Person will continue to pay tax as per the existing tax rates.The following rates shall be increased by Surcharge and Education Cess as applicable in the table given below: Health and Education… Read More »Budget 2020 – Income Tax Slab Rates

The reduction in corporate tax rates for domestic companies is a bold and radical measure implemented by the Government to tackle the slow-down in the economy. All domestic companies across all sectors will stand to benefit from the reduction if they opt to sacrifice the tax incentives. There has been a reduction in the MAT rate from 18.5% to 15% for companies following the existing scheme.In case of companies not… Read More »The Ideal Business Structure – Impact of Changes in Tax Rates