Income tax updates for FY 2021-22 (AY 2022-23)

Rates of Income Tax for FY 2021-22 (Assessment year 2022-23)

February 4, 2022January 24, 2023 Jupiter

(A) Income tax Rates for Individual & HUF (who opted for new tax regime u/s 115BAC) As we know that W.e.f FY 2020-21 i.e. budget 2020, two options of slab rate are available for Individual & HUF as per option given u/s 115BAC. Every taxpayer who is Individual or HUF, have to choose between (i)New […]

Have you done tax planning for FY 2021-22 before the deadline 31st March 2022- Checkout what you missed.

January 27, 2022January 24, 2023 Jupiter

Financial year 2021-22 is reaching its end in a few weeks. 31st March is an important deadline with reference to Financial Planning and Tax Planning, missing it may result in higher tax liability. We are required to complete our tax planning before 31st march 2022, as we are required to file Income tax return for […]

Rates of TCS for FY 2021-22 i.e. 1st April 2021 to 31st March 2022 (AY 2022-23)

March 13, 2021January 24, 2023 Jupiter

Normal TCS rate for financial year 2020-21 were changed w.e.f 14th may 2020 by reducing normal rates by 25%. But this reduction of tcs rates was applicable only upto 31.3.2021 and normal Rates are restored w.e.f 1.4.2021. A complete list of TCS rate along with related transactions for financial year 2021-22 (AY-2022-23) is provided in […]

Rates of TDS for FY 2021-22 (1st April 2021 to 31st March 2022)

March 1, 2021January 24, 2023 Jupiter

Reduced TDS rate which were changed w.e.f 14th may 2020 by reducing normal TDS rates by 25%, were applicable only upto 31-03-2021. Hence this reduction in TDS rates in not applicable for FY 2021-22. A complete list of TDS rate along with related transactions and budget proposals for financial year 2021-22 (AY-2022-23) is provided in […]

Income tax due dates for FY 2021-22 (AY 2022-23)

March 1, 2021January 24, 2023 Jupiter

Due Dates of Income tax as applicable for FY 2021-22 (AY 2022-23) (A) Due date for filing Income tax Return Category Sub-Category Original Due date Extended due date (if any) Individual & HUF whose accounts are required to be audited u/s 44AB (ITR-3) 31-10-2022 (Audit report is to be filed upto 30-09-2022) A working […]

Important Highlights of Tax Proposals in Finance Budget 2021-22

February 5, 2021January 24, 2023 Jupiter

The Finance Minister, Nirmala Sitharaman presented her third Union budget 2021 in Parliament today i.e. 01-02-2021. Following are important proposals made therein:- Direct tax proposals:- 1. Major Direct Tax Proposals made in budget 2021-22 is given below:- NO change is proposed in direct tax rates / slab rates of income tax, following 32 changes are […]