FinTax24

Glossary

Terms Starting with "O"

3 terms found

Old vs New Regime

The old and the new regime are two ways to work out your income tax. The old one keeps most claims but has higher rates. The new one has lower rates.

Income Tax

Old vs New Tax Regime

Old vs New Tax Regime: pick one for FY 2020-21. The old plan keeps all deductions you claim. The new one has lower slabs and fewer deductions.

Income Tax

OPC

An OPC is a private company with just one member. The rule is in Section 2(62) of the Companies Act, 2013. One person holds all the shares in it.

Corporate Law