Additionally, it mentions the Minimum Alternate Tax (MAT) applicable at 15% on Book profit for AY 2024-25. Latest Update: From the assessment year (AY) 2024-25, subject to specific conditions, the threshold for Section 44AD has increased to ₹3,00,00,000, while the limit for Section ...
The assessee has to pay income tax if his total Income after allowing Chapter VI-A Deduction is more than the taxable income limit.Due Dates of ITR for Different Categories of Taxpayers for FY 2023-24 (AY 2024-25)Category of TaxpayerDue Date (Original Return) Company (whether tax audit ...
The Multistate Tax alert archive includes external tax alerts issued by Deloitte Tax LLP's Multistate Tax practice during the last four years. These external alerts highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summ...
The CBDT has extended the due date of filing ITR for the auditable entities for the A.Y. 2022-23 to 7th November, 2022 to give effect to consequential extension in the due date of filing audit report till 7th October, 2022. Time limit for e-verification of ITR reduced to 30 days from...
(AY) 2024-25 from 31st October 2024 to15th November 2024.This extension follows a previous change by the government, which moved the deadline for submitting tax audit reports from September 30, 2024, to October 7, 2024. It applies to taxpayers under sub-Section (1) of Section 139 of the...
Services Tax Act, 2017(“the CGST Act”)and corresponding State GovernmentNotification No. 6/2023 dated April 6, 2023that extended the time limit for issuance of Show Cause Notice and passing of Orders for FY 2019-20 to August 31, 2024. The Petitioner's challenge was based on two grounds...
QUESTION: A Public Trust is to be created for Charitable Purposes in April,2021. The trust intends to claim benefits of Sections 11 and Section 12 from AY 2022-23. In this regard, what is the time limit for making an application for registration, time limit for granting approval by the ...
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Before 31st July 2024 (Non-audit) and 31st Oct 2024 (Audit cases) ₹ 0 ₹ 0 After Due Date But Before 31st December ₹ 1,000 ₹ 5,000 Note: From AY 2021-22, there is no concept of an INR 10,000 penalty. Now the maximum penalty under section 234F is INR 5000 only. Redu...
10 Indonesian Pocket Tax Book 2022 PwC Indonesia Corporate Income Tax Limitation on interest deduction The acceptable methods to limit the interest deduction are those commonly used internationally, such as Percentage of EBITDA (Earning Before Interest, Taxes, Depreciation, and Amortisation), Debt-to-...