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 […]
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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 […]
