Tag: income tax officials

Income Tax Slabs for domestic firms, professionals, partnerships, and sole proprietorships

Posted on By Chandan Tiwari No Comments on Income Tax Slabs for domestic firms, professionals, partnerships, and sole proprietorships

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…

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Employers’ provident fund contribution tax norm creates confusion

Posted on By Chandan Tiwari No Comments on Employers’ provident fund contribution tax norm creates confusion

Before deciding the tax interest earned by private sector employees contribution over the 2.5 lakh towards provident fund from April 2021, the government had decide to bring employer’s contribute of over 7.5 lakh towards retirement saving to tax net last year. in the previous year Budget Finance Minister Nirmala Sitharaman decide to tax employer’s contributions…

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