New section115BAC is embedded in Income Tax Act by the Finance Act 2020 and it is
pertinent w.e.f first April 2020 and will be appropriate on Individuals and
HUFs for evaluation year 2021-22 and resulting appraisal years. Under this
section taxpayers i.e Individuals and HUFs has an option to pay the tax based
on concessional piece rates subject to certain conditions. The new income tax
chunk rates according to section 115BAC are as per the following:
Showing posts with label What is better Old V/s New Tax Regime FY 2020-21?. Show all posts
Showing posts with label What is better Old V/s New Tax Regime FY 2020-21?. Show all posts
Thursday, 30 April 2020
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