View Full Profile
Long-term capital gains tax rate will be 12.5% for all assets.
In Budget 2024, FM has simplified the provisions for reopening and reassessment to reduce tax uncertainty and disputes, providing relief to taxpayers.
Income tax slabs are the categories of income levels that determine the rate at which income tax is charged for the applicable financial year (FY) and assessment year (AY).
Filing an income tax return requires a careful and detailed process. But despite of our best efforts, mistakes happen.
Suggestion to permanently change the deadline has been given by the taxpayers as they are facing difficulty in accessing Form 26AS and AIS. Due to technical issues on the Income Tax Portal, there is an increasing demand to extend the ITR filing deadline from July 31, 2024, to August 31, 2024.
Recent change in ITR utility for rebate u/s 87A has caused confusion and concerns among taxpayers and professionals.
A man in Delhi claimed about paying a large fee to a chartered accountant for a minor tax dispute. He paid Rs 50,000 to a CA for resolving a tax notice where the disputed amount was only Re 1.
The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f. AY 2024-25 to make the new tax regime the default tax regime for the assessees being individuals, HUF, AOP (not being cooperative societies), BOI, or artificial judicial persons.
NIL Return means when an individual filed Income Tax Return which is below the threshold limit. While it not so mandatory if you have no taxable income for the year. But it can be beneficial for record-keeping and other administrative purposes.
The exact date for the upcoming Union Budget 2024 is not yet known. Typically, in general election years, the full-year budget is presented in the first or second week of July.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
