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New Tax Regime vs Old Tax Regime: An important aspect of opting into the new regime was that once opted in, persons having business/professional income could only opt out of the regime once and thereafter, would be prevented from opting back in.
Old Tax Regime vs New Tax regime: The Union government in Budget 2023 made the New Tax Regime a default choice. If a taxpayer does not choose between the old and new tax regimes, then their taxes will be automatically calculated under the new regime.
Tax Computation of Salaries Tax and Personal Assessment
In order to avoid the Ksh2,000 fine, here's a step-by-step guide on how to file tax returns.
The Heavy Highway Vehicle Use Tax is reported on the 2290 Form (HVUT). Any truck that weighs more than 55,000 pounds and drives on American