When I’m trying to file the ITR for FY 20-21 on 02-08-2021, I’m seeing a penalty of 5000 (taxable income is greater than 500000) even though the last date for filling has been postponed to 30-09-2021. Am I supposed to see this penalty? Or is this the new ITR website issue...
January 22, 2025 News Malaysia: Transfer pricing guidelines and audit framework for 2024 Guidelines are effective from year of assessment 2023, and framework is effective from December 24, 2024. January 22, 2025 News Spain: Filings for special taxes due in early 2025 Certain communications ...
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 2024-25 (AY 2025-26)Category of TaxpayerDue Date (Original Return) Company (whether tax audit ...
Someone who has become a “covered expatriate” might want to know – whether the IRS audit of expatriate tax returns is high or low? What if I do not even have a social security number (e.g., as a U.S. citizen born outside the U.S.) from my date of birth, and I have lived...
Indirect tax compliance The time limit for the tax authority to assess a tax return has been reduced to three years (previously five years) from the end of the tax year in which the return is filed. The time limit for assessing in case of non-submissions of final returns, deception or ...
From April 2023, the lifetime allowance companies can raise under SEIS will increase from £150,000 to £250,000 and the investment limit for SEIS investors in a tax year will increase from £100,000 to £200,000. In addition to this, there was a sunset clause for SEIS and the...
Your personal allowance may be bigger if you qualify for Married Couple’s Allowance or Blind Person’s Allowance. However the Personal Allowance goes down by £1 for every £2 of income above a £100,000 limit. It can go down to zero. ...
s state budget which for FY2024 was $327 billion with an anticipated deficit of $14 billion, with a projected FY25 deficit of between $58 billion and $73 billion.[1] California, like Texas, maintains a similarly sized rainy day fund (Budget Stabilization Account) of approximately $22 ...
ARPA generally eliminated the upper income limit and increased the amount of the premium tax credit (the percentage of household income that individuals are required to contribute to their health insurance coverage decreased to 9.61% in 2022). For 2023, even more taxpayers may qualify for the tax...
The Multistate Tax alert archive includes external tax alerts issued by Deloitte Tax LLP's Multistate Tax practice during the last three years.