Budget Booklet 2024 - by Avinash Gupta - Whatsapp
Budget Booklet 2024 - by Avinash Gupta - Whatsapp
Budget Booklet 2024 - by Avinash Gupta - Whatsapp
1
Analysis of Budget 2024
2
Index
Sl.No. Particulars Page No.
1. Tax Rates 1
2. Individual Tax 6
3. Business Taxation 8
4. Capital Gains 10
5. Other Sources 15
6. International Taxation 17
7. Charitable Trust 22
9. Penalty 32
iii. Firms
Flat tax rate of 30% and surcharge @ 12% of income tax if net
income exceeds Rs 1 Cr. Additionally, cess of 4% is applicable.
Having total income of more than 1,000 plus 20% of total income
10,000 but less than 20,001 in excess fo Rs.10,000
Having total income of more than 3,000 plus 30% of total income
20,000 in excees of Rs. 20,000
Surcharge to be added
45
declarant is an appellant on or before
the 31st day of January, 2020 at the
same appellate forum in respect of the
such tax arrear.
(c) where the tax arrear relates to disputed 20% of disputed interest or disputed 30% of disputed interest or disputed
interest or disputed penalty or disputed penalty or disputed fee. penalty or disputed fee.
fee where the declarant is an appellant
after the 31st day of January, 2020 but
on or before the specified date.
(d) where the tax arrear relates to disputed 30% of disputed interest or disputed
interest or disputed penalty or disputed penalty or disputed fee.
fee where the declarant is an appellant
on or before the 31st day of January,
2020 at the same appellate forum in
respect of the such tax arrear.
Provided that in a case where an appeal or writ petition or special
leave petition is filed by the income-tax authority on any disputed
issue before the appellate forum, the amount payable shall be one-
half of the amount in the Table above calculated on such issue, in
such manner, as may be prescribed:
Provided further that in a case where an appeal is filed before the CIT
(Appeals) or JCIT (Appeals) or objections is filed before the DRP by the
appellant on any issue on which he has already got a decision in his
favour from the ITAT (where the decision on such issue is not reversed
by the High Court or the Supreme Court) or the High Court (where
the decision on such issue is not reversed by the Supreme Court), the
amount payable shall be one-half of the amount in the Table above
calculated onsuch issue, in such manner, as may be prescribed:
Provided also that in a case where an appeal is filed by the appellant
on any issue before the ITAT on which he has already got a decision
in his favour from the High Court (where the decision on such issue
is not reversed by the Supreme Court), the amount payable shall be
one-half of the amount in the Table above calculated on such issue,
in such manner as may be prescribed.