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Lower effective tax rate of 39% instead of 42 74% in top bracket of new tax regime; here s how marginal relief works

Surcharge on income: Individuals having income(s) above Rs 50 lakh have to pay an additional tax known as surcharge . Budget 2023 made Surcharge rate applicable on the highest income slab to 25% from 37%. Abhishek Soni from Tax2Win says, "This move brought down the effective tax rate from 42.74% to 39%."

Akhil chandnaThornton bharatAbhishek soniGrant thorntonMight also likeMarginal reliefGrant thornton bharatNew tax regimeNews about income taxIncome tax surchargeDirect taxMarginal relief on surcharge

Self-employed? Here s everything you need to know for the new tax year

Tax experts at SJD Accountancy share a checklist of all the tax changes set to impact the self-employed in the UK from April 2023

United kingdomJoanne thorneNational insurance contributionsCorporation taxTechnical compliance manager joanne thorneLimited companyMarginal reliefInsurance contributions

New Income Tax Regime for FY 2023-24: Know what are the tax rebates, deductions for salaried individuals and pensioners

India s Finance Minister announces significant changes to income tax regime for FY 2023-24.

Nirmala sitharamanSukanya samriddhi yojanaSeva nidhiAgniveer corpus fundNew tax regimeFinance minister nirmala sitharamanIncome tax regimeIncome tax actFinance billAgnipath schemeAgniveer corpusCentral governmentFinance minister nirmala sitharamanUnion budget 2023Tax rebateAlaried class taxpayers

Amendments in finance bill: debt funds take a blow

The Finance Bill, 2023, was passed in Parliament with 64 additional amendments

New delhiSilicon valley bankFinance actFinance billDebt fundDebt mutual fundMarginal reliefNew tax regime

Corporate Tax Rates by Country | Corporate Tax Trends

New report compiles 2022 corporate tax rates around the world and compares corporate tax rates by country. See the latest 2022 corporate tax trends.

United statesCzech republicNorthern mariana islandsSao tomeSao tome and principeSaint helenaBritish virgin islandsPapua new guineaSaint luciaGuinea bissauCook islandsUnited arab emiratesPuerto ricoCosta ricaCabo verdeSierra leone

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