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Are you an employee or consultant? Your income tax deductions depend on it
30 Jan 2025 07:51 GMT
… the tax being deducted, he also requested the hospital to deduct lower tax … amount of tax to be deducted and tax will be deducted for the … employer can revise the tax to be deducted accordingly. Therefore, the … employing him has to deduct tax at the rate of …
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Surprising tax deductions you might be missing this EOFY
30 Jan 2025 02:47 GMT
Even if you don't operate a home-based business but simply work from home, you are also eligible to claim running expenses (such as electricity and wifi) based on the fixed rate method. In 2024, this equated to 67 cents per work hour on your …
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FBR’s tax notices to salaried individuals spark controversy over legality and fairness
30 Jan 2025 08:54 GMT
… are already subject to monthly tax deductions by employers.
Reports suggest that … of the Income Tax Ordinance, 2001, citing excess tax deductions under Section 149 … , as employees rely on annual tax deduction certificates issued by their employers …
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How to Get a Lower Deduction Certificate in India: A Simple Guide for Taxpayers
30 Jan 2025 07:50 GMT
… or eliminating TDS deductions completely.
A lower deduction certificate is tax authorities’ formal … financial years.
Conclusion
Lower deduction certificates help taxpayers gain better control over … have a reduced rate of Tax Deducted at Source (TDS) on their …
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FBR Issues Worthless Tax Recovery Notices to Salaried-Class
30 Jan 2025 05:50 GMT
… is also demanding proof of tax deductions which employers typically provide on … the Income Tax Ordinance, any short deduction or non-deduction of tax by an … . However, FBR has started demanding tax payments directly from salaried individuals …
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Budget 2025: Crypto Industry Seeks Digital Asset Innovation, Simple Tax Structure and More
30 Jan 2025 07:04 GMT
… crypto rules.
Tax Reforms
Cryptocurrency earnings are taxed at 30 … India, and a one percent tax deducted at source (TDS) is … investors. This rule levied taxes on investments from wealthy … Minister focuses on smart taxes rules and blockchain development, …
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What Is Joint Taxation System? How Will Joint Tax Filing Proposed by ICAI Ahead of Budget 2025 Benefit Married Couples? Here’s All You Need To Know
30 Jan 2025 09:21 GMT
… Sitharaman May Hike Income Tax Slabs and Standard Deduction.
The ICAI highlighted that … similar joint taxation systems are already …
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Budget 2025 Income Tax Proposal: ICAI Urges Centre To Introduce Joint Tax Filing for Married Couples in Union Budget 2025-26
30 Jan 2025 09:22 GMT
… offer substantial tax relief and encourage equitable taxation for households … brackets, a progressive tax structure has been recommended … benefit from separate standard deductions under Section 16(IA … States, making the taxation system more family-oriented …
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ITR Filing Made Simple: Your Easy Guide to Tax Return Submission
30 Jan 2025 07:50 GMT
… gains or losses
Deduction Optimisation
Taxpayers can optimize their deductions through smart planning …
Gross Total Income
Total Deductions
Tax Paid
Total Tax Liability
Common Fields Explained …
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Budget 2025 could start implementing Direct tax code by cutting tax rates, removing exemptions, lay out road map
30 Jan 2025 06:57 GMT
… exemptions and deductions that are currently available under the old tax regime. … to simplify the tax framework by eliminating exemptions and deductions altogether and bring … down the overall tax rates. This …