Explore the essential dates in the Income Tax Calendar for F.Y. 2024-2025. Stay updated with deadlines for filings, payments, and more for timely compliance.
ITR Filing Last Date 2023-24(24-25).pdfWEB ONLINE CA
Important information regarding the last date for filing income tax returns for the financial year 2022-23, which is the assessment year 2023-24. It also includes the latest updates on the deadline for ITR 7, Form 10B, and Form 10BB, which has been rescheduled from September 30, 2023, to October 31, 2023. The pdf explains the difference between the fiscal year and assessable year and provides details on the due dates for individuals, businesses requiring audit, and businesses requiring transfer pricing reports. Additionally, it outlines the penalties and interest charges for missing the ITR filing deadline and offers solutions for those who miss the deadline. This information is essential for taxpayers to ensure compliance with the tax laws and avoid any unnecessary charges or penalties.
-WEB ONLINE CA
Due Date ITR Filing for AY 2023-24 is July 31st, 2023 | Academy Tax4wealthAcademy Tax4wealth
The Income Tax department has set the due date filing ITR for the assessment year 2023-24, pertaining to income earned in the financial year 2022-23, which is July 31. Join Academy Tax4wealth.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/itr-filing-due-date
Can I file my ITR for FY 2020-21 after 31stDecember 2021? What is a belated return? What is the penalty for late filing of return?Till when can I file the belated return?
This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
Form 24Q is the TDS return form that must be filed quarterly by employers to report tax deducted from employees' salaries under section 192. It contains details of tax deducted, employee names and PAN numbers, dates and amounts of salary payments, and tax deducted. Filing must be done online for employers above certain thresholds. The form has two annexures - Annexure I is filed for all quarters while Annexure II containing full-year salary details is only for the last quarter. Employers must provide a TDS certificate to all employees and meet filing deadlines to avoid penalties.
What Is Life After Coronavirus? New Tax-Related Provisions For Increased Cash...Rea & Associates
Presented by Rea & Associates and featuring Christopher Axene, CPA, and Greg Speece, CPA, this one-hour webinar will help you learn about the major tax provisions included in recent legislation, discussion of tax planning opportunities, and what you may expect in the future.
Specifically, you will hear:
• Insights on the major tax provisions included in recent COVID 19 legislation that impacts the cash flow for small to mid-size businesses and individuals.
• How recent provisions put in place will interact with other non-tax provisions of COVID-19 legislation, and the impact that it will have on businesses.
• Guidance about tax planning opportunities and discussions about what we still don’t know, the clarification we expect to receive, and resources to help guide your business.
For more insight and information into the financial resources for business owners, please visit https://www.reacpa.com/coronavirus to view our dedicated COVID-19 resource center. You can also visit https://www.reacpa.com/covid19-webinar-series to view this webinar and many others in our What Is Life After Coronavirus webinar series.
For additional questions, you can contact us directly at rea.news@reacpa.com.
Know About TDS and TCS Return Due Dates for the FY 2022–2023 | Academy Tax4we...Academy Tax4wealth
Do you want to know about TDS and TCS Return Due Dates for the FY 2022–2023? Check Late filing fees, Penalty, Interest Rate for Payment of TDS and TDS Return Forms. Join Academy Taax4wealth now, because this is the best e – learning platform. Enroll now, and make your career.
For more information, you can visit us at:-
https://academy.tax4wealth.com/blog/due-dates-of-e-filing-of-tds-or-tcs-return
https://academy.tax4wealth.com/
May Monthly Newsletter- N Pahilwani and AssociatesNitin Pahilwani
1. The document provides updates on tax compliance deadlines in India for May 2020, including extensions granted due to COVID-19. Key dates are extended for income tax returns and refunds, GST returns, TDS/TCS statements, and other compliance requirements.
2. The CBDT has extended various tax payment and compliance deadlines that were falling between March 20 to June 30, 2020 to June 30, 2020. This includes deadlines for income tax returns and refunds, TDS/TCS statements, and other requirements.
3. Due dates for GST returns have also been extended, with the deadline for GSTR-3B returns for April-May 2020 being June 12th/14
ITR Filing Last Date 2023-24(24-25).pdfWEB ONLINE CA
Important information regarding the last date for filing income tax returns for the financial year 2022-23, which is the assessment year 2023-24. It also includes the latest updates on the deadline for ITR 7, Form 10B, and Form 10BB, which has been rescheduled from September 30, 2023, to October 31, 2023. The pdf explains the difference between the fiscal year and assessable year and provides details on the due dates for individuals, businesses requiring audit, and businesses requiring transfer pricing reports. Additionally, it outlines the penalties and interest charges for missing the ITR filing deadline and offers solutions for those who miss the deadline. This information is essential for taxpayers to ensure compliance with the tax laws and avoid any unnecessary charges or penalties.
-WEB ONLINE CA
Due Date ITR Filing for AY 2023-24 is July 31st, 2023 | Academy Tax4wealthAcademy Tax4wealth
The Income Tax department has set the due date filing ITR for the assessment year 2023-24, pertaining to income earned in the financial year 2022-23, which is July 31. Join Academy Tax4wealth.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/itr-filing-due-date
Can I file my ITR for FY 2020-21 after 31stDecember 2021? What is a belated return? What is the penalty for late filing of return?Till when can I file the belated return?
This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
Form 24Q is the TDS return form that must be filed quarterly by employers to report tax deducted from employees' salaries under section 192. It contains details of tax deducted, employee names and PAN numbers, dates and amounts of salary payments, and tax deducted. Filing must be done online for employers above certain thresholds. The form has two annexures - Annexure I is filed for all quarters while Annexure II containing full-year salary details is only for the last quarter. Employers must provide a TDS certificate to all employees and meet filing deadlines to avoid penalties.
What Is Life After Coronavirus? New Tax-Related Provisions For Increased Cash...Rea & Associates
Presented by Rea & Associates and featuring Christopher Axene, CPA, and Greg Speece, CPA, this one-hour webinar will help you learn about the major tax provisions included in recent legislation, discussion of tax planning opportunities, and what you may expect in the future.
Specifically, you will hear:
• Insights on the major tax provisions included in recent COVID 19 legislation that impacts the cash flow for small to mid-size businesses and individuals.
• How recent provisions put in place will interact with other non-tax provisions of COVID-19 legislation, and the impact that it will have on businesses.
• Guidance about tax planning opportunities and discussions about what we still don’t know, the clarification we expect to receive, and resources to help guide your business.
For more insight and information into the financial resources for business owners, please visit https://www.reacpa.com/coronavirus to view our dedicated COVID-19 resource center. You can also visit https://www.reacpa.com/covid19-webinar-series to view this webinar and many others in our What Is Life After Coronavirus webinar series.
For additional questions, you can contact us directly at rea.news@reacpa.com.
Know About TDS and TCS Return Due Dates for the FY 2022–2023 | Academy Tax4we...Academy Tax4wealth
Do you want to know about TDS and TCS Return Due Dates for the FY 2022–2023? Check Late filing fees, Penalty, Interest Rate for Payment of TDS and TDS Return Forms. Join Academy Taax4wealth now, because this is the best e – learning platform. Enroll now, and make your career.
For more information, you can visit us at:-
https://academy.tax4wealth.com/blog/due-dates-of-e-filing-of-tds-or-tcs-return
https://academy.tax4wealth.com/
May Monthly Newsletter- N Pahilwani and AssociatesNitin Pahilwani
1. The document provides updates on tax compliance deadlines in India for May 2020, including extensions granted due to COVID-19. Key dates are extended for income tax returns and refunds, GST returns, TDS/TCS statements, and other compliance requirements.
2. The CBDT has extended various tax payment and compliance deadlines that were falling between March 20 to June 30, 2020 to June 30, 2020. This includes deadlines for income tax returns and refunds, TDS/TCS statements, and other requirements.
3. Due dates for GST returns have also been extended, with the deadline for GSTR-3B returns for April-May 2020 being June 12th/14
Income Tax for New Tax Return Filers- FAQs.pptxtaxguruedu
This article provides a detailed overview of income tax, including its definition, the administrative framework, return filing period, who is liable to pay tax, how to pay tax, precautions in tax payment, advance tax calculation, income tax challans, Form 26AS, exempt income, taxable income, maintaining books of account, professions, and the period for which records should be kept. It also covers topics such as revenue receipts, capital receipts, agricultural income, and relief from double taxation.
offices
of
NSDL
within
the
due
date.
NSDL will act as intermediary and upload the
data to the Income Tax Department's central
system.
1. The document provides information on Tax Deduction at Source (TDS) and TCS, including the objectives, nature of payments subject to TDS/TCS, persons responsible for deductions, rates of deduction, deposit and filing of returns.
2. It discusses the consequences of failure to deduct or deposit TDS/TCS on time such as interest, penalties, and disallowance of expenses.
3. The mandatory requirements for electronic filing of T
This PDF document details all the taxes housing societies in India has to pay along with their rates, dates of submissions and filing returns. It also discusses the common problems faced by apartments to calculate their taxes and how to overcome it.
Payroll Webinar: Form 941 for 2020: What you Need to KnowAscentis
This webinar covers the IRS Form 941 and its accompanying Form Schedule B for 2020. It discusses what is new for the form in 2020 and covers the requirements for completing each form line by line. It includes the filing requirements and tips on reconciling and balancing the two forms.
Form 941 is the link between your payroll records and the IRS tax records. Proper administration of this vital form is critical if you want to avoid IRS Notices and the penalties and interest that accompany them. The Schedule B is also a crucial form for many employers. The IRS demands that the Form 941 and the Schedule B match to the penny…every single time…without fail!
It has always been a requirement that the Forms 941 be reconciled with the Forms W-2 prior to submitting each form. If the employer fails in this reconciliation, the IRS and Social Security Administration can both assess penalties! This reconciliation has become even more critical these past few years.
Newsletter on daily professional updates- 01/04/2020CA PRADEEP GOYAL
“True strength lies in submission which permits one to dedicate his life, through devotion, to something beyond himself."
Presenting Daily dose of professional updates dated 01.04. 2020. This is 200th edition and 1st Newsletter of Financial Year 2020-2021
Happy New Year 2017
For Lunawat Monthly Bulletin – January 2017 click at http://lunawat.com/Uploaded_Files/Attachments/F_3529.pdf
The same is also available on www.lunawat.com as well as on free Mobile App ‘LUNAWAT’ available through playstore.
I hope the same shall be of use to you.
Warm Regards
CA. Pramod Jain
Income Tax Ready and quick Referencer for FY 2017-18 and AY 2018-19. Complete coverage with latest ammendments and cash limits specified by the Hon'ble Prime Minister in Budget 2017. Revised penalties, limits and changes income tax rates included
ERTC Funding
ERTCpro.com
Employee retention is a crucial element in the success of any organization. The ability to retain skilled and experienced employees not only helps maintain productivity levels but also ensures continuity in the business operations. However, with the current economic climate, many organizations are struggling to keep their workforce intact due to financial constraints.
To address this issue, governments across the globe have introduced measures such as employee retention tax credits (ERTC) to incentivize employers to retain their employees amid the pandemic.
The ERTC is a tax credit that provides financial relief for eligible employers who continue to pay their employees during periods of economic hardship caused by COVID-19. This tax credit was introduced by the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020 and has since been expanded and extended under subsequent legislation.
As an expert in ERTC tax credits, it is the duty of us at ERTCpro.com to educate employers on how they can take advantage of this program to retain their workforce while reducing their tax liability. In this article, we will explore the eligibility criteria, benefits, and application process for ERTC and provide insights on how organizations can maximize its potential for employee retention.
Overview Of The Employee Retention Tax Credit (ERTC)
The Employee Retention Tax Credit (ERTC) is a tax incentive program that was introduced to help businesses retain their employees during the COVID-19 pandemic. The ERTC provides eligible employers with a refundable tax credit of up to $5,000 per employee. This credit can be used to offset the employer's share of Social Security taxes.
A benefits analysis should be performed by eligible employers to determine if they qualify for the ERTC. To qualify, an employer must have experienced a significant decline in gross receipts or been forced to suspend operations due to a government order related to COVID-19. Additionally, employers must have maintained their workforce during the period in which the credit is being claimed.
The ERTC can provide much-needed support in these uncertain times.
Questions? See ERTCpro.com
This document provides information for a tax professional on important tax changes and provisions to watch for the 2021 tax filing season. Key points include the American Rescue Plan Act provisions making the first $10,200 of unemployment benefits non-taxable and increasing the child tax credit. It also discusses COVID-19 related credits, PPP loan deductions, mileage rates, bonus depreciation, excess business loss limitations, and many expiring tax provisions to be aware of. Locations and contact information for the tax preparation service are also included.
Partners Matt Peterson, CPA and Curtis Gabinet, CPA of True North Accounting break down the various programs announced by the Canadian government to offer relief to Small Businesses impacted by the COVID-19 crisis.
Topics of this webinar included: CEWS (Canada Emergency Wage Subsidy) and CECRA (Canada Emergency Commercial Rent Assistance).
This document discusses measures taken by the Indian government to mitigate the economic impact of Covid-19. It summarizes projected declines in GDP and GST revenue. The government introduced measures like extending tax filing deadlines and relaxing penalties. It also allowed more input tax credits to be claimed and extended timelines for composition schemes. Industry requested additional measures to boost consumption and investment like lowering tax rates and interest penalties.
This document provides an overview of key changes to the Indian Income Tax rates and regulations for the fiscal year 2017-2018 (assessment year 2018-2019). Some notable changes include a reduction in tax rates for individuals with income up to Rs. 2.5 lakhs from 10% to 5% and an increase in the surcharge for individuals with total income over Rs. 50 lakhs. Tax rates for companies were also reduced from 30% to 25% for domestic companies with turnover up to Rs. 50 crores. Other changes covered include restrictions on set-off of house property losses, presumptive taxation provisions, capital gains tax rates and periods, and requirements for maintaining books of accounts.
CBDT extends the due date for filing of TDS statement in Form 24Q to 30th Jun...Corwhite Corp
In another major decision, the CBDT (Central Board of Direct Taxes) has extended the due date for TDS filing- Form 24Q i.e. quarterly TDS statement in respect of salaries for the financial year 2018-19 from May 31, 2019 to June 30, 2019.
Budget 2016 was recently announced by the Finance Minister of India. This Presentation unravels the Transfer Pricing and International Tax proposals of the Budget 2016.
What Is Life After Coronavirus? Working Through The PPP Loan Forgiveness Appl...Rea & Associates
Doug Houser and Paul McEwan of the SBA & PPP Loan Task Force at Rea & Associates are back and, with the official release of the Paycheck Protection Program (PPP) Loan Forgiveness Application by the Small Business Administration, are ready to present a special 90-minute, interactive webcast that will help you make sense of the application while providing much-needed clarity on a variety of factors pertaining to PPP Loans.
Be sure to join Doug and Paul as they walk attendees through the formal application and attempt to explain the various complexities found within this document. Specifically, during this presentation, you will hear:
- Discussion about the most recent official guidance of the PPP Loan and how to navigate PPP Forgiveness.
- A complete review of the PPP Forgiveness Application.
- About PPP Forgiveness Application's Critical Issues/FAQ’s.
- How to protect your business through risk mitigation and building a file.
TDS related slides and how to file TDS returns and correction or modification on tds return. what is PAn what is TAN, issues faced during tds returing filling, corrections based on the notice received from income tax departments,
income tax payments, notices related to income tax and tds returns
Income Tax Returns have undergone several changes with several additional disclosures. Here's a guide to filing your return for the Financial Year 2016-17 (AY 2017-18)
Self-Assessment is the system that was created by HM Revenue & Customs (HMRC) to ensure the correct amount of tax is collected for a tax year. You should therefore check each year whether you need to submit a self-assessment tax return.
This document provides information on 2021 tax planning strategies for individuals and businesses. It discusses the difference between reactive tax preparation and proactive tax planning. The stages of effective tax planning include planning, implementation, quarterly maintenance, and tax return preparation. Various tax planning strategies are outlined for deferring or accelerating income, bunching deductions, maximizing retirement contributions, checking IRA distribution requirements, converting traditional IRAs to Roth IRAs, and reducing Roth conversion taxes. Year-end tax planning considerations for businesses include employee retention credits, net operating loss carrybacks, and research and development cost deductions and amortization.
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
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Similar to Income Tax Calendar: Important Dates for F.Y. 2024-2025
Income Tax for New Tax Return Filers- FAQs.pptxtaxguruedu
This article provides a detailed overview of income tax, including its definition, the administrative framework, return filing period, who is liable to pay tax, how to pay tax, precautions in tax payment, advance tax calculation, income tax challans, Form 26AS, exempt income, taxable income, maintaining books of account, professions, and the period for which records should be kept. It also covers topics such as revenue receipts, capital receipts, agricultural income, and relief from double taxation.
offices
of
NSDL
within
the
due
date.
NSDL will act as intermediary and upload the
data to the Income Tax Department's central
system.
1. The document provides information on Tax Deduction at Source (TDS) and TCS, including the objectives, nature of payments subject to TDS/TCS, persons responsible for deductions, rates of deduction, deposit and filing of returns.
2. It discusses the consequences of failure to deduct or deposit TDS/TCS on time such as interest, penalties, and disallowance of expenses.
3. The mandatory requirements for electronic filing of T
This PDF document details all the taxes housing societies in India has to pay along with their rates, dates of submissions and filing returns. It also discusses the common problems faced by apartments to calculate their taxes and how to overcome it.
Payroll Webinar: Form 941 for 2020: What you Need to KnowAscentis
This webinar covers the IRS Form 941 and its accompanying Form Schedule B for 2020. It discusses what is new for the form in 2020 and covers the requirements for completing each form line by line. It includes the filing requirements and tips on reconciling and balancing the two forms.
Form 941 is the link between your payroll records and the IRS tax records. Proper administration of this vital form is critical if you want to avoid IRS Notices and the penalties and interest that accompany them. The Schedule B is also a crucial form for many employers. The IRS demands that the Form 941 and the Schedule B match to the penny…every single time…without fail!
It has always been a requirement that the Forms 941 be reconciled with the Forms W-2 prior to submitting each form. If the employer fails in this reconciliation, the IRS and Social Security Administration can both assess penalties! This reconciliation has become even more critical these past few years.
Newsletter on daily professional updates- 01/04/2020CA PRADEEP GOYAL
“True strength lies in submission which permits one to dedicate his life, through devotion, to something beyond himself."
Presenting Daily dose of professional updates dated 01.04. 2020. This is 200th edition and 1st Newsletter of Financial Year 2020-2021
Happy New Year 2017
For Lunawat Monthly Bulletin – January 2017 click at http://lunawat.com/Uploaded_Files/Attachments/F_3529.pdf
The same is also available on www.lunawat.com as well as on free Mobile App ‘LUNAWAT’ available through playstore.
I hope the same shall be of use to you.
Warm Regards
CA. Pramod Jain
Income Tax Ready and quick Referencer for FY 2017-18 and AY 2018-19. Complete coverage with latest ammendments and cash limits specified by the Hon'ble Prime Minister in Budget 2017. Revised penalties, limits and changes income tax rates included
ERTC Funding
ERTCpro.com
Employee retention is a crucial element in the success of any organization. The ability to retain skilled and experienced employees not only helps maintain productivity levels but also ensures continuity in the business operations. However, with the current economic climate, many organizations are struggling to keep their workforce intact due to financial constraints.
To address this issue, governments across the globe have introduced measures such as employee retention tax credits (ERTC) to incentivize employers to retain their employees amid the pandemic.
The ERTC is a tax credit that provides financial relief for eligible employers who continue to pay their employees during periods of economic hardship caused by COVID-19. This tax credit was introduced by the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020 and has since been expanded and extended under subsequent legislation.
As an expert in ERTC tax credits, it is the duty of us at ERTCpro.com to educate employers on how they can take advantage of this program to retain their workforce while reducing their tax liability. In this article, we will explore the eligibility criteria, benefits, and application process for ERTC and provide insights on how organizations can maximize its potential for employee retention.
Overview Of The Employee Retention Tax Credit (ERTC)
The Employee Retention Tax Credit (ERTC) is a tax incentive program that was introduced to help businesses retain their employees during the COVID-19 pandemic. The ERTC provides eligible employers with a refundable tax credit of up to $5,000 per employee. This credit can be used to offset the employer's share of Social Security taxes.
A benefits analysis should be performed by eligible employers to determine if they qualify for the ERTC. To qualify, an employer must have experienced a significant decline in gross receipts or been forced to suspend operations due to a government order related to COVID-19. Additionally, employers must have maintained their workforce during the period in which the credit is being claimed.
The ERTC can provide much-needed support in these uncertain times.
Questions? See ERTCpro.com
This document provides information for a tax professional on important tax changes and provisions to watch for the 2021 tax filing season. Key points include the American Rescue Plan Act provisions making the first $10,200 of unemployment benefits non-taxable and increasing the child tax credit. It also discusses COVID-19 related credits, PPP loan deductions, mileage rates, bonus depreciation, excess business loss limitations, and many expiring tax provisions to be aware of. Locations and contact information for the tax preparation service are also included.
Partners Matt Peterson, CPA and Curtis Gabinet, CPA of True North Accounting break down the various programs announced by the Canadian government to offer relief to Small Businesses impacted by the COVID-19 crisis.
Topics of this webinar included: CEWS (Canada Emergency Wage Subsidy) and CECRA (Canada Emergency Commercial Rent Assistance).
This document discusses measures taken by the Indian government to mitigate the economic impact of Covid-19. It summarizes projected declines in GDP and GST revenue. The government introduced measures like extending tax filing deadlines and relaxing penalties. It also allowed more input tax credits to be claimed and extended timelines for composition schemes. Industry requested additional measures to boost consumption and investment like lowering tax rates and interest penalties.
This document provides an overview of key changes to the Indian Income Tax rates and regulations for the fiscal year 2017-2018 (assessment year 2018-2019). Some notable changes include a reduction in tax rates for individuals with income up to Rs. 2.5 lakhs from 10% to 5% and an increase in the surcharge for individuals with total income over Rs. 50 lakhs. Tax rates for companies were also reduced from 30% to 25% for domestic companies with turnover up to Rs. 50 crores. Other changes covered include restrictions on set-off of house property losses, presumptive taxation provisions, capital gains tax rates and periods, and requirements for maintaining books of accounts.
CBDT extends the due date for filing of TDS statement in Form 24Q to 30th Jun...Corwhite Corp
In another major decision, the CBDT (Central Board of Direct Taxes) has extended the due date for TDS filing- Form 24Q i.e. quarterly TDS statement in respect of salaries for the financial year 2018-19 from May 31, 2019 to June 30, 2019.
Budget 2016 was recently announced by the Finance Minister of India. This Presentation unravels the Transfer Pricing and International Tax proposals of the Budget 2016.
What Is Life After Coronavirus? Working Through The PPP Loan Forgiveness Appl...Rea & Associates
Doug Houser and Paul McEwan of the SBA & PPP Loan Task Force at Rea & Associates are back and, with the official release of the Paycheck Protection Program (PPP) Loan Forgiveness Application by the Small Business Administration, are ready to present a special 90-minute, interactive webcast that will help you make sense of the application while providing much-needed clarity on a variety of factors pertaining to PPP Loans.
Be sure to join Doug and Paul as they walk attendees through the formal application and attempt to explain the various complexities found within this document. Specifically, during this presentation, you will hear:
- Discussion about the most recent official guidance of the PPP Loan and how to navigate PPP Forgiveness.
- A complete review of the PPP Forgiveness Application.
- About PPP Forgiveness Application's Critical Issues/FAQ’s.
- How to protect your business through risk mitigation and building a file.
TDS related slides and how to file TDS returns and correction or modification on tds return. what is PAn what is TAN, issues faced during tds returing filling, corrections based on the notice received from income tax departments,
income tax payments, notices related to income tax and tds returns
Income Tax Returns have undergone several changes with several additional disclosures. Here's a guide to filing your return for the Financial Year 2016-17 (AY 2017-18)
Self-Assessment is the system that was created by HM Revenue & Customs (HMRC) to ensure the correct amount of tax is collected for a tax year. You should therefore check each year whether you need to submit a self-assessment tax return.
This document provides information on 2021 tax planning strategies for individuals and businesses. It discusses the difference between reactive tax preparation and proactive tax planning. The stages of effective tax planning include planning, implementation, quarterly maintenance, and tax return preparation. Various tax planning strategies are outlined for deferring or accelerating income, bunching deductions, maximizing retirement contributions, checking IRA distribution requirements, converting traditional IRAs to Roth IRAs, and reducing Roth conversion taxes. Year-end tax planning considerations for businesses include employee retention credits, net operating loss carrybacks, and research and development cost deductions and amortization.
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Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
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Buy Verified Payoneer Account With 100% secure documents, [ USA, UK, CA ]. Are you looking for a reliable and safe way to receive payments online? Then you need buy verified Payoneer account ! Payoneer is a global payment platform that allows businesses and individuals to send and receive money in over 200 countries.
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Income Tax Calendar: Important Dates for F.Y. 2024-2025
1. Meta Title: Income Tax Calendar: Important Dates for F.Y. 2024-2025
Meta Description: Explore the essential dates in the Income Tax Calendar for F.Y.
2024-2025. Stay updated with deadlines for filings, payments, and more for timely
compliance.
Income Tax Calendar: Important
Dates for F.Y. 2024-2025
Income Tax Calendar Important Dates for F.Y. 2024-2025.png
As we enter the new F.Y. 2024-2025, it i's important to stay updated with the
Income Tax Calendar to ensure effective tax planning and compliance. This article
will guide you through all the crucial dates and deadlines—from tax payment
schedules to the submission of various forms—that you need to note. Whether
you're an individual taxpayer, a business owner, or a financial advisor, being aware
of these critical timelines will help you manage your tax responsibilities efficiently,
avoid penalties, and manage your finances.
Table of Contents:
Significance of Income Tax Calendar
Income Tax Calendar: Due Date for Filing Income Tax Return for F.Y. 2023-2024
Due Date for Payment of Advance Tax Installments for F.Y. 2024-2025
Due Date for Payment of TDS/TCS for F.Y. 2024-2025
Due Date for Payment of PF/ESI for F.Y. 2024-2025
Due Date for TDS/TCS Return Filing for F.Y. 2024-2025
Due Date for Submitting Form 15G/15H for F.Y. 2024-2025
Consequence of Delay in ITR Filing for F.Y. 2023-2024
Consequence of Delay in TDS/TCS Payments for F.Y. 2024-2025
Consequence of Delay in TDS/TCS Return Filing for F.Y. 2024-2025
Most Asked Questions
Significance of Income Tax Calendar
2. The Income Tax Calendar for the F.Y. 2024-2025 is essential for all taxpayers in
India. It provides crucial dates and deadlines for submitting returns, paying
taxes, and fulfilling other compliance obligations. The Income Tax Calendar not
only ensures adherence to tax laws, thereby avoiding penalties, but also aids in
effective financial planning. Here's why it's significant:
● Ensures Compliance: Highlights key tax filing dates and deadlines, helping
prevent penalties.
● Facilitates Financial Planning: Enables taxpayers to strategically plan their
expenses and investments.
● Aids in Timely Payment: Assists in scheduling advance tax payments to
avoid interest charges.
● Enhances Organizational Efficiency: Supports businesses in systematically
managing their financial obligations.
● Prevents Last-Minute Rush: Encourages early and distributed preparations
for tax-related responsibilities.
Income Tax Calendar: Due Date for
Filing Income Tax Return for F.Y.
2023-2024
Knowing the Income Tax Return (ITR) filing due dates are essential for the
taxpayers to ensure they don’t face any penal consequences. Here is an overview
of the filing due dates for various categories of taxpayers for F.Y. 2023-2024:
Category of Taxpayer Due Date of Filing ITR
Salaried Individuals 31st July 2024
Partnerships (not requiring audit) 31st July 2024
Individuals/HUFs (not requiring audit) 31st July 2024
Businesses requiring audit 31st October 2024
Businesses requiring Transfer Pricing
(TP) Report
30th November 2024
3. Due Date for Payment of Advance
Tax Installments for F.Y. 2024-2025
Advance tax payments form the central part of tax compliance for individuals
and entities whose tax liability, after TDS, amounts to INR 10,000 or more in a
year.
Knowing the due date for payment of advance tax installments for the F.Y.
2024-2025 is essential. It will help the taxpayers to plan their cash flows
accordingly. Moreover, the taxpayers will be able to pay taxes on time without
having any effect on their working capital.
Month Due Date Installment Description
June 15th June 2024 1st Payment of the 1st installment of
advance tax, that is, 15% of the
estimated tax liability for the year.
Septembe
r
15th September
2024
2nd Payment of the 2nd installment of
advance tax, that is, 45% of the
estimated tax liability cumulatively.
December 15th December
2024
3rd Payment of the 3rd installment of
advance tax, that is, 75% of the
estimated tax liability cumulatively.
March 15th March 2025 4th Payment of the 4th and final
installment of advance tax, that is,
100% of the estimated tax liability.
Due Date for Payment of TDS/TCS
for F.Y. 2024-2025
TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) operate as two
mechanisms of tax collection in India at the point of transaction. Most TDS
deductions are supposed to be deposited by the 7th of the following month.
However, for payments made in March, the deposit is to be made by the 30th of
April. TCS follows a similar schedule.
Following are the due dates for payment of TDS/TCS for F.Y. 2024-2025:
4. Quarter Ending
Month of
Deduction/Collection
Due Date for Depositing TDS/TCS
30th June 2024
April 2024 7th May 2024
May 2024 7th June 2024
June 2024 7th July 2024
30th September 2024
July 2024 7th August 2024
August 2024 7th September 2024
September 2024 7th October 2024
31st December 2024
October 2024 7th November 2024
November 2024 7th December 2024
December 2024 7th January 2025
31st March 2025
January 2025 7th February 2025
February 2025 7th March 2025
March 2025 7th April 2025 (For TDS Deducted
by Government Office)
30th April 2025 (For Other
Deductors)
TDS Sections with Specific Due Dates:
● Section 194IA (TDS on property purchase): Payment is due within 30 days
from the end of the month in which the deduction is made.
● Section 194IB (TDS on rent by non-corporates): Payment is due within 30
days from the end of the month in which the deduction is made.
● Section 194M (Payment of commission, brokerage, and likewise, by
individuals not liable to tax audit): Payment is due within 30 days from the
end of the month in which the deduction is made.
5. TCS Sections with Specific Due Dates:
● Section 206C(1F) (Sale of motor vehicles above INR 10 Lakh): Payment is
due on the 7th of the following month for non-government collectors, and on
the same day for government collectors.
● Section 206C(1H) (Sale of goods in excess of INR 50 Lakh): Payment is due
on the 7th of the following month for non-government collectors, and on the
same day for government collectors.
Due Date for Payment of PF/ESI for
F.Y. 2024-2025
The due dates of Provident Fund (PF) and Employees' State Insurance (ESI) in
India are important for the employers to manage the commitment of payroll
effectively. For the Financial Year 2024-2025, the due dates for the payment of PF
and ESI are typically the same each month:
● PF (Provident Fund) Payment Due Date:
The due date for the deposit of PF contributions is on or before the 15th of
the following month. For example, the PF contribution for April 2024
should be paid by May 15, 2024.
● ESI (Employees' State Insurance) Payment Due Date:
The due date for ESI payment is on or before the 15th of each month for
the previous month's contributions. For instance, for the month of April
2024, the ESI payment should be made by May 15, 2024.
These consistent monthly deadlines ensure timely compliance with financial
obligations related to employee benefits.
Due Date for TDS/TCS Return Filing
for F.Y. 2024-2025
Following are the due dates for filing of TDS/TCS returns for F.Y. 2024-2025:
6. Quarter Ending
Due Date for Filing TDS
Return
Due Date for Filing TCS
Return
30th June 2024 31st July 2024 15th July 2024
30th September 2024 31st October 2024 15th October 2024
31st December 2024 31st January 2025 15th January 2025
31st March 2025 31st May 2025 15th May 2025
Due Date for Submitting Form
15G/15H for F.Y. 2024-2025
The submission of Form 15G and Form 15H is crucial for managing deduction of
TDS. These forms are especially important for those whose total income is
expected to be below the taxable limit in the F.Y. 2024-2025. Form 15G/15H
prevents tax deduction at source on interest income when the total income is
not taxable. Here are the due dates for submitting these forms for each quarter
of the F.Y. 2024-2025:
Quarter Ending Due Date for Filing TDS Return
30th June 2024 15th July 2024
30th September 2024 15th October 2024
31st December 2024 15th January 2025
31st March 2025 15th April 2025
Consequence of Delay in ITR Filing
for F.Y. 2023-2024
Delaying the filing of the Income Tax Return (ITR) for the F.Y. 2023-2024 beyond
the specified due date can lead to several consequences. Below is a table that
outlines these potential consequences, emphasizing the importance of timely
compliance to avoid penalties and other complications:
7. Consequence Details
Late Filing Fee
A fee of up to INR 5,000 may be imposed if the return is filed
after the due date but on or before 31st December. This fee
increases to INR 10,000 if filed after 31st December but before
the end of the assessment year. However, if the total income
does not exceed INR 5 Lakh, the fee is limited to INR 1,000.
Interest on Due
Taxes
Interest under Section 234A at 1% per month or part thereof is
chargeable on any unpaid tax amount, calculated from the
due date of the return until the date of actual filing.
Loss Carry Forward
Restrictions
Losses (except house property loss) cannot be carried forward
if the return is filed after the due date.
Delayed Refund
Any refund due might be delayed, and interest on refund may
also be affected due to late filing.
Implications on
Loans and Visas
Late filing can impact one's financial credibility, affecting loan
approvals and visa applications as many institutions require
the latest ITRs.
Consequence of Delay in TDS/TCS
Payments for F.Y. 2024-2025
Delay in the payment of TDS or TCS can lead to several adverse consequences for
the payer. It's crucial for businesses and individuals responsible for deducting or
collecting taxes to understand and adhere to the prescribed timelines to avoid
the penalties and interest charges. Following are the potential consequences of
late payment of TDS/TCS for the F.Y. 2024-2025:
Consequence Details
Interest Charges
Interest is charged at 1.5% per month or part thereof, from the
date the TDS/TCS was due until it is paid to the government.
Penalty for Late
Payment
A penalty equal to the amount of TDS/TCS not paid may be
levied.
8. Consequence Details
Prosecution
Delay beyond a certain period may lead to prosecution, which
can result in imprisonment for a term ranging from three
months to seven years, along with a fine.
Disallowance of
Expenses
In the case of TDS, any expenditure on which TDS is delayed
can be disallowed as a deduction in the payer’s income tax
return.
Consequence of Delay in TDS/TCS
Return Filing for F.Y. 2024-2025
Delaying the filing of TDS or TCS returns can lead to a range of statutory
penalties and consequences, impacting both the financial and compliance
status of the taxpayer. Following are the potential consequences for late filing of
TDS/TCS returns for the F.Y. 2024-2025:
Consequence Details
Late Filing Fees
Under Section 234E, a late filing fee of INR 200 per day is
charged until the return is filed. This fee cannot exceed the
TDS/TCS amount.
Penalty for Late
Filing
A penalty ranging from INR 10,000 to INR 1,00,000 under
Section 271H.
Disallowance of
Expenses
Delays in filing TDS returns may lead to the disallowance of
expenses for business entities.
9. FAQ
Q1. What is the Income Tax Calendar? Why is it
important for taxpayers?
The Income Tax Calendar outlines important dates and deadlines for tax-related
activities, such as filing returns, paying taxes, and submitting forms. It helps
taxpayers stay organized, avoid penalties, and plan their finances effectively.
Q2. When is the last date for filing income tax
returns for the F.Y. 2023-2024?
The last date for filing income tax returns for F.Y. 2023-2024 is July 31, 2024, for
individuals who are not required to get their accounts audited. However, it is
advisable to check for any updates or extensions issued by the tax authorities.
Q3. What happens if I miss the deadline for filing
my income tax return??
Missing the deadline for filing income tax return can lead to penalties and interest
charges. It is essential to file your return on time to avoid such consequences and
ensure compliance with tax laws.
Q4. Can I revise my income tax return if I made a
mistake or forgot to include certain details?
Yes, you can revise your income tax return within a specified time limit, usually
before the end of the assessment year or before the completion of assessment,
whichever is earlier. It is advisable to rectify any errors or omissions promptly to
avoid any complications.
Q5. When are the quarterly due dates for
submitting Form 15G/15H for F.Y. 2024-2025?
The due dates for submitting Form 15G/15H for F.Y. 2024-2025 are as follows:
● Q1 (April-June): 15th July 2024
● Q2 (July-September): 15th October 2024
● Q3 (October-December): 15th January 2025
10. ● Q4 (January-March): 15th April 2025
Q6. How can I calculate my advance tax liability
for the F.Y. 2024-2025?
You can calculate your advance tax liability by estimating your total income for the
year and applying the applicable tax rates. Advance tax is typically payable in
installments during the financial year, with due dates specified by the tax
authorities.
Q7. What are the consequences of not paying
advance tax on time?
Failure to pay advance tax on time may attract interest under Section 234B and
Section 234C of the Income Tax Act. It is important to make timely advance tax
payments to avoid interest charges.
Q8. Are there any tax-saving investments or
expenses I can consider for planning the taxes
for F.Y. 2024-2025?
Yes, several tax-saving investments and expenses, such as contributions to
Provident Fund (PF), Equity-linked Savings Scheme (ELSS), National Pension
System (NPS), and payment of life insurance premiums, can help you reduce your
taxable income and save on taxes.
Q9. What are the key dates for making
tax-saving investments for the F.Y. 2024-2025?
Tax-saving investments can be made throughout the financial year. However, to
claim deductions for a particular financial year, investments must be made before
the end of the financial year, i.e., before March 31, 2025, to avail benefits for F.Y.
2024-2025.
Q10. How can I stay updated on any changes or
updates to the Income Tax Calendar?
Since Profession Tax is administered by individual state governments, the due date
for F.Y. 2024-2025 varies among different states. Generally, it is payable monthly by
11. the last day of the following month in which the salary was paid. However, some
states offer options for annual or quarterly payments.
For specific due dates and payment schedules, it is advisable to consult the relevant
state's tax department or a local tax advisor to ensure compliance with your
location's regulations for the F.Y. 2024-2025.