Schedule AL limit is increased from 50 lakh to 1 cr - is this applicable from FY 2024-25 or FY 2025-26? And is it applicable to both old and new tax regime?
Thanks in advance
Menu
Schedule AL limit for FY 2024-25
Replies (5)
Quick Summary
The Schedule AL limit has been increased from ₹50 lakh to ₹1 crore starting from FY 2024-25 (which corresponds to AY 2025-26). This means that returns filed in AY 2025-26, only those with a total income exceeding ₹1 crore must fill Schedule AL. This new disclosure threshold applies to both old and new tax regimes.
Thank you very much Rambhia ji
You are welcome.
Thanks for this info and clarification on AL schedure, Sir.
My pleasure.
Recent Topics :
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
Related Topics :
CAclubindia
