– 15th June 2024: 15% of advance tax liability – 15th September 2024: 45% of advance tax liability (30% of total liability) – 15th December 2024: 75% of advance tax liability (45% of total liability) – 15th March 2025: 100% of advance tax liability It’s essential to note that these due dates apply to both […]
If you missed the July 31 deadline to file your income tax returns, don’t worry, you still have a chance to file a belated return before December 31. However, keep in mind that you’ll have to pay a late fee of ₹5,000 if your total taxable income exceeds ₹5 lakh. If your income is below […]
Income Tax Slabs under the Old Regime The old regime allows various deductions and exemptions. The income tax slabs under the old regime are as follows: – Up to Rs 2,50,000: Nil – Rs 2,50,001 to Rs 5,00,000: 5% – Rs 5,00,001 to Rs 7,50,000: 10% – Rs 7,50,001 to Rs 10,00,000: 15% – Rs […]
To know more info. contact us: Call: 9928857684 Web: www.vardhmanassociates.com Call now
The Central Board of Direct Taxes (CBDT) has extended the deadline for corporate income tax returns for the Assessment Year 2024-25 to November 15, 2024 . This is a 15-day extension from the original deadline of October 31, 2024. The CBDT made this announcement through a circular on October 26, 2024, exercising its powers under […]
Corporate assessees. Non-corporate assessees whose books of account are required to be audited under the Income Tax Act or any other law. Partners of a firm whose accounts are required to be audited under the Income Tax Act or any other law. The spouse of such a partner if Section 5A (Apportionment of Income between […]
Great news for companies! As of October 1, 2024, the Indian government has relaxed the rules for depositing Tax Deducted at Source (TDS). Companies now have more time to deposit TDS with the government, up to the deadline for filing the TDS return, which is an additional 20 days ¹. However, it’s essential to […]
The last date for filing the income tax audit report has been extended to October 7, 2024 . This is a welcome relief for taxpayers who were facing difficulties in electronically filing the required reports due to technical issues on the e-filing portal . The Central Board of Direct Taxes (CBDT) made this announcement on […]
NEW AMENDMENT IN LONG TERM CAPITAL GAIN For classifying assets into long-term and short-term, there will only be two holding periods: 12 months and 24 months. The 36-month holding period has been removed. […]
