Major Tax proposals in “PART B” of Budget 2020

Corporate tax rate @ 15% for new companies in the manufacturing sector. Also, tax rate for existing companies is brought down to 22%. Income tax slab as per new regime: > upto 2.5L – NIL > 2.5L to 5L – 5% > 5L to 7.5L – 10% > 7.5L to 10L- 15% >...

Extension of due date of filling AOC-4 & MGT-7

Ministry of Corporate Affairs on 29th October, 2019 vide General Circular No. 13/2019 has extended the due date of filling of forms MGT-7 (Annual Return) and AOC-4 (Financial Statements) for the financial year ended 31.03.2019. The extended due dates are 30.11.2019...

How to File Income Tax Return

Income Tax Return Income Tax Return is a form filed with tax authorities, which reports all your incomes, expenses, investments and all other tax related data. In India, income tax returns are filed as per the rules defined in Income Tax Act, 1962. Every Individual or...