Income tax updates for FY 2022-23 (AY 2023-24)
Many people filing income tax return for the financial year 2022-23 and worried about tax regime. Please note that- SLAB RATE UNDER NEW TAX Regime u/s 115BAC for FY 2022-23 Following tax rates will be applicable for Individual & HUF who opted for NEW TAX REGIME for financial year 2022-23 (assessment year 2023-24):- Total Income …
Financial year 2022-23 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 2023, as we are required to file Income tax return for …
(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 …
Rates of Income tax for FY 2022-23 (assessment year 2023-24) Read More »
Due Dates of Income tax as applicable for FY 2022-23 (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) 31-10-2023 (Audit report is to be filed upto 30-09-2023) A working …
Budget 2022 was presented on1st February 2022 with historic least number of changes in Income tax. A complete list of TCS (tax collected at source) rate along with related transactions and budget proposals for financial year 2022-23 (AY-2023-24) is provided in the table given below.- TCS Rate Chart for FY 2022-23 (AY 2023-24) Section Nature …
Rates of TCS for FY 2022-23 (1st April 2022 to 31st march 2023) Read More »
Budget 2022 was presented on1st February 2022 with historic least number of changes in Income tax. A complete list of TDS rate along with related transactions and budget proposals for financial year 2022-23 (AY-2023-24) is provided in the table given below.- TDS Rate Chart for FY 2022-23 (AY 2023-24) Payment Type Threshold Limit (Rs) Resident …
Rates of TDS (tax deducted at source) for FY 2022-23 (1st April 2022 to 31st March-2023) Read More »
Today, i.e. 1st February 2022, Finance Minister of India presented Union budget 2022 . The Finance bill is the part of union budget which includes various tax proposal for next FY i.e. 1st April 2022 to 31st March 2023. The Finance bill is a weapon under Fiscal policy to control economic conditions in the country. …
Important Highlights of Tax Proposals in Union Budget 2022 (FY 2022-23) Read More »
