Showing posts with label Income Rates. Show all posts
Showing posts with label Income Rates. Show all posts

Saturday 28 February 2015

No Change in the Rate of Personal Income Tax and The Rate of Tax for Companies on Income in Financial Year 2015-16



No Change in the Rate of Personal Income Tax and The Rate of Tax for Companies on Income in Financial Year 2015-16





Surcharge @12% Levied on Individuals, HUFs, AOPs, BOIs, Artificial Juridical Persons, Firms, Cooperative Societies and Local Authorities Having Income Exceeding Rs 1 Crore





The Union Finance Minister Shri Arun Jaitley in his Budget Speech in Lok Sabha today proposed no change in the rate of personal Income-tax. He announced the tax proposals with no change in the rate of tax for companies in respect of the income earned in the financial year 2015-16, assessable in the assessment year 2016-17.






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