In both tax systems, Section 112A provides a tax exemption for Long Term Capital Gains (LTCG) of up to Rs 1.25 lakh on ...

the Old Tax Regime and the New Tax Regime. The Old Tax Regime is popular among taxpayers as it offers deduction and exemptions on income tax calculation. In the Old Tax System, tax rates are ...

Will the GST rate hike impact the cost of old cars? Is the new tax rate applicable to EVs? Read below to know the answers to all GST on used cars FAQs. Do I have to pay GST when selling my used ...

In the proposed new tax regime introduced in Budget 2024, only the standard deduction of Rs 75,000 is considered for tax calculation. In contrast, the old tax regime takes into account a standard ...

under the old tax regime and claim these deductions as a tax refund. However, you will need to opt out of the new tax regime. Many taxpayers are facing a dilemma about choosing the ‘right ...

The Federal Government has kicked-off the implementation of the 2024 Withholding Tax Regulations. The new regulations ... experienced with the old withholding tax regime was the failure to ...

Now less than a month is left for the presentation of the General Budget 2025-26. In this budget, the government can offer ...

Income tax expense is a critical component of a company ... Operating Cash Flow Margin (OCFM): What Is It, Calculation & Importance What is Operating Cash Flow Margin? Operating Cash Flow ...

The Federal Government has commenced the implementation of the 2024 Withholding Tax Regulations, signalling effort to modernise Nigeria’s tax system. Approved by President Bola Tinubu in July ...

In my most recent blog post, I finished going through the process for computing a taxable entity’s Texas Franchise Tax responsibility. That post can be found here. However, at the end of that ...

You also have to indicate the tax regime you wish to choose — the old, with-exemptions one, or the simpler new tax regime, which is now the default option. One also needs to indicate the tax ...

Under the new tax regime, the income tax slabs have been updated, offering potential savings of up to Rs 17,500 annually. These revised slabs will play a crucial role while calculating your tax ...