Kindly advise on the procedures to be followed for
(1) transferring the electronic ledger balances to the new entity (2) Advance for service was received in the old entity ( Firm) and actual invoice is received by new entity ( P Ltd Co) . How to deal this situation ?
Under the New Tax Regime for FY 2025-26, the Section 87A rebate only covers tax on your salary. Your ₹2 lakh STCG will be taxed at 20% ($₹40,000 + Cess$), even though your total income is under the ₹12 lakh limit.