The Employees’ Provident Fund Organization (EPFO) today revealed its provisional payroll statistics, which shows that in the month of November 2022, EPFO attracted 16.26 lakh net members. The information shows that in October 2022, there were 25.67% more net additions than in the previous month. When comparing payroll statistics from one year to the next,…
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According to the regulations of the EPF plan, you are permitted to withdraw funds from your Employee’s Provident Fund (EPF) account for a number of reasons. You are permitted to take withdrawals from your EPF account beginning at age 55 in order to fund your retirement. know about withdraw from EPF corpus for repayment of…
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Income Tax Slab Modification: Indians are always interested to see what the government will do for them in the Union Budget. The final full budget of the federal government will be Budget 2023 (Budget 2022). Therefore, it is anticipated that Nirmala Sitharaman, the finance minister, will present the populace with numerous gifts this time. If…
According to government figures released on Wednesday, India’s gross direct tax collections increased by 24.58% to? 14.71 lakh crore as of January 10 this financial year, helped by an increase in personal income tax receipts. Net direct tax revenues after accounting for refunds were 12.31 lakh crore, up 19.55 percent from the same time in…
India has compiled a list of 35 items that are being considered for a potential hike in customs duties in the 2023 budget, which is expected to be released on February 1. Among the products on the government-prepared list are private aircraft, helicopters, high-end electronics, plastic goods, jewellery, high-gloss paper, and vitamins. Based on suggestions from…
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Nirmala Sitharaman, the minister of finance, stated on Sunday that improving the ease of doing business was not just the responsibility of the federal government and that it was also necessary to improve it at the state, district, municipality, and even Panchayat levels. The finance minister offered some words of wisdom to budding entrepreneurs while…
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In order to achieve the one nation, one standard, promote start-ups in every district, establish a start-up innovation zone at the level of urban local bodies, and encourage Indian speciality products by developing premium international brands, a new industrial policy that will replace the one from 1991 is being proposed. In order to boost MSME…
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As a result of the removal of all promoter directors from the board of directors by the national company law tribunal (NCLT), which was done to protect the firm from bad management, Atlas Cycle will now be run by a new group of individuals. Six independent directors have been appointed in the public interest to…
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As 2023 approaches, all eyes will be on the impending Budget 2023, which will be announced on February 1 by Union Finance Minister Nirmala Sitharaman. Professionals and salaried taxpayers alike anticipate a number of tax relief measures from the budget. However, a lot of experts think that the Budget may not contain any significant announcements. …
Read More “Income Tax Relief – Change in Income Tax Slab Rate and TDS Rate in Budget 2023” »
Income tax slabs applicable to income earned from running a proprietorship business or via professional services are the same as the slabs applicable to other types of income example salary income but the slabs/rates are different for partnerships and companies. Income tax on salaried individual is charged as per the slab rate on the basis…
