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'Political donations pe kabhi TCS nahi lagne waala': Ashneer Grover slams 20% TCS on international credit card usage

Spending with international credit cards will also attract a higher rate of Tax Collected at Source (TCS) at 20 per cent, effective July 1, 2023. ....

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Key Difference Between Old & New Tax Regimes

The New Tax Regime was first announced in 2020 which saw only a few takers. Before the introduction of the New Tax Regime, there was only one Regime – the Old Tax Regime. More recently, the New Tax Regime was again updated in the Union Budget 2023. These changes will come into effect for the financial year 2023-24, or simply FY24, which also translates to assessment year 2024-25. ....

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Tax deduction on salaries: CBDT says tax will be calculated at New Tax Regime rates if employees don't opt out

Finance Minister Nirmala Sitharaman in her this year’s Budget speech said that the new tax regime will be treated as the default tax regime if the employer doesn’t register his or her choice with the employee. ....

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How should you manage your NPS Tier 1 account under the new tax regime?

The Pension Fund Regulatory and Development Authority manages the National Pension System (NPS), a government-backed pension programme. ....

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Tax saving guide: The optimal tax saving instruments under old tax regime

In the Union Budget 2023, Finance Minister Nirmala Sitharaman announced significant adjustments to the new income tax regime, including reduced tax rates and a tax rebate on annual income up to ₹7 lakh. ....

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