An individual is considered a resident in India if they are in the country for 182 days or more during the previous year.

An individual is considered a resident in India if they have stayed for 182 days or more during the previous year.

Taxable income is calculated as Gross income minus Deductions.

Taxable income is calculated as Gross income minus Deductions.

Taxable income is calculated as Gross income minus Deductions.

The basic condition for determining residential status is the duration of stay in India.

Both Indian and foreign income are taxed in India for a resident individual.

Income from foreign sources is taxed in India as per Indian tax laws for resident individuals.

The maximum deduction under Section 80G can be up to 100% of the donation amount, subject to conditions.

Gross total income is the sum of all income sources: ₹6,00,000 + ₹2,00,000 = ₹8,00,000.

Both income earned in India and income earned outside India are taxable for a Resident and Ordinarily Resident.

Under the old tax regime, the income tax liability for ₹10,00,000 is ₹1,50,000 after applying the applicable slabs.

Taxable income is calculated as Gross Salary minus Deductions. Therefore, 6,00,000 - 1,50,000 = 4,50,000.

The taxable income is Rs. 6,00,000 - Rs. 1,50,000 = Rs. 4,50,000.

The taxable income is calculated as total income minus deductions: 8 lakhs - 1.5 lakhs = 6.5 lakhs.

Taxable income is calculated as total income minus deductions: ₹10,00,000 - ₹1,50,000 = ₹8,50,000.

Taxable income = Total income - Deductions = ₹8,00,000 - ₹1,50,000 = ₹6,50,000.

The standard rate of GST applicable on the supply of services is 18%.

Taxable income refers to total income after deductions.

The threshold limit for registration for service providers under GST is Rs. 20 lakhs.

Sale of luxury goods is considered a taxable supply under GST.

All of the above are considered supplies under GST.

Under GST, input tax credit is available for goods used for taxable supplies.

Input tax credit can only be claimed if the supplier has paid the tax, ensuring that the tax is actually collected.

Public Provident Fund (PPF) is eligible for deduction under Section 80C.

Individuals can claim a deduction for contributions made to the National Pension Scheme (NPS) under Section 80CCD.

CGST stands for Central Goods and Services Tax, which is levied by the central government on intra-state supplies.

GST stands for Goods and Services Tax, which is a comprehensive indirect tax on the manufacture, sale, and consumption of goods and services.

For the financial year 2022-23, the basic exemption limit for individual taxpayers below 60 years of age is 2.5 lakhs.

The basic exemption limit for individual taxpayers below 60 years of age is 2.5 lakhs.