The Finance Minister, Smt. Nirmala Sitharaman tabled the Income-tax Bill in the parliament on 13th February 2025. The top 50 changes proposed in the Income-tax Bill 2025 (‘ITB’) in comparison to the Income-tax Act, 2025 (‘ITA’) are given below. Meanings Clause 2 of the ITB consolidates the meaning of specific terms in one place. Previously,…
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Top Highlights of Budget 2025-26: • No Income Tax Payable Up to ₹12 Lakh – Under the new income tax regime, individuals earning up to ₹12 lakh will not have to pay income tax. • New Tax Slabs Introduced ₹0-4 lakh: Nil ₹4-8 lakh: 5% ₹8-12 lakh: 10% ₹12-16 lakh: 15% ₹16-20 lakh: 20% ₹20-24…
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Tax Audit Due Date Extended to 07-October-2024 https://incometaxindia.gov.in/news/circular-10-2024.pdf Read the official circular above. Let us know if you have any additional questions. Contact – anshul@karwaandassociates.com
Basic checklist for 31st March, 2024. Income Tax: Goods and Services Tax: Others: For any doubts mail us at – caanshul@mail.ca.in or anshul@karwaansassociates.com
Key Points: Summary: Have any Questions or Received a notice, get in touch with us to resolve it. Contact – anshul@karwaandassociates.com
Linking PAN with Aadhaar deadline extended by CBDT to June 30, 2023
“Unveiling the Hidden Tax Benefits of the New Tax Regime” The new tax regime was introduced with the aim of making the tax system simpler and less burdensome for taxpayers. While it may seem like it eliminates all tax benefits, it’s not entirely true. Starting from the financial year 2023-24, the new tax regime will…
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The cutoff time to document the late and amended annual government forms (ITRs) for FY 2021-22 (AY 2022-23) will end on December 31, 2022. This implies citizens just have one day left at this point. Under personal expense regulations, ITR recording is a yearly movement seen as an obligation of each and every capable resident…
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