UAE has corporate taxes - 18 to 25%.
No income tax.
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HOW GOVERNMENT OF INDIA EARNS ITS 100 RUPEES
Based on Earnings from different departments
โน27 - Borrowings & other liabilities
โน19 - Income Tax
โน18 - GST & Other Taxes
โน17 - Corporate Tax
โน9 - Non-Tax Receipts
โน5 - Union Excise Duties
โน4 - Cus
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Direct Tax collections for FY 2024-25 as of 17 September, 2024
Net Collections, YOY comparison
Corporate Tax : โน4.53 lakh crore, up 10.5%
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Indian Tax slabs
Income tax slabs categorize taxpayers based on their annual income, determining the applicable tax rates. Here's a breakdown:
1. Nil Tax: Annual income up to โน2.5 lakh for individuals below 60 years.
2. 5% Tax: I
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Mahendra Lochhab
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New Tax slab:
0-4L-0%
4-8L-5%
8-12L-10%
12-16L-15%
16-20L-20%
20-24L-25%
24L+30%
People with income up to 12L will pay 0% income tax.
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Ashutosh Mishra
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GST Thread 2
What GST brings along with it -
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All individuals should calculate their income according to both the old regime and the new regime. Thereafter, they should choose the scheme that results in lower taxes.
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What's a scam that's so normalized that we don't even realize it's a scam anymore?
Me- Taxes. Once you tax the income, why is there a tax again in the name of GST?
Whatever the shop / company earns they can give it as income tax.
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The UK's Overseas Territories Lead the Charge in Global Tax Havens โ British Influence Dominates the Corporate Tax Haven Landscape in 2024
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Was it a Budget of expectations?
The Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman introduced changes to the income tax regime, for salaried employees & those opting for the new tax regime.
1. Standard Deduction Increase: T