The Income Tax Department has issued a strict warning to taxpayers. The strict warning is regarding failing to declare foreign assets can lead to a hefty penalty of ₹10 lakh. As the ITR deadline is near, taxpayers with overseas investments or accounts must comply with the disclosure rules ...
You have spent more than ₹1 lakh in electricity bills in one financial year. You run a registered company or firm. (Note: You have to file a return of income irrespective of whether you have made profit or loss throughout the year.) ...
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This would imply that no income tax would be due on earnings up to Rs 7 lakh. New Tax Regime Slab Rates Tax SlabsNew Tax Regime 0-3 lakh NIL 3-7 lakh 5% 7-10 lakh 10% 10-12 lakh 15% 12-15 lakh 20% Above 15 lakhs 30% New Section 87A Rebate Suggested in Budget 2023 Accordin...
Posted inIncome Tax|560 Views Penalty reduced from Rs. 56 lakh to Rs. 10 thousand in case of delay in payment of tax collected by the Supplier Bimal Jain04 December 2023 at 10:25 The Hon'ble Allahabad High Court in the case of Clear Secured Services Private Limited v. Commissioner, Stat...
15 lakh is taxed at 20%, and income above Rs. 15 lakh is taxed at 30%. Easily efile your ITR via Enterslice Stay ahead of the curve and ensure financial compliance by e-filing your income tax return via Enterslice. Avoid penalties and interest by filing income tax on time through our ...
10 lakh & above30%9 lakh – 12 lakh15% ––12 lakh – 15 lakh20% ––15 lakh & above30% Income tax rebate As per the new income tax regime for FY 2023-24 (AY 2024-25), the rebate under Section 87A has been increased from Rs. 5 lakhs to Rs. 7 lakhs. Thus, individuals wit...
49 lakh cases of income tax refunds are pending with the revenue departmentraj kumar makkadPrint this
What are income tax regulations in India if I take a loan of around 5-10 Lakh from someone (not a bank) for my startup with some interest rate? What is General Tourism taxable income for the year 2018? How do I learn income tax e-filing practically in India? Do I need to p...
No Income Tax on Annual Income Upto Rs. 12 Lakh Under New Tax Regime Jan 31, 2025 Due Date - IT Jan 30, 2025 Due Date - IT Jan 28, 2025 Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Tamil Nadu and Himachal Pradesh ...