MANDATORY DEMAT REQUIREMENT FOR PRIVATE COMPANIES HAS NOW BEEN EXTENDED
Ministry Of Corporate Affairs vide notification dated 12th Feb 2025 extended the due date of dematerialisation of shares of private companies till 30th June 2025.
TAXHUSTLER
TDS Rates For Income Tax with Recent Changes
Here is the TDS (Tax Deducted at Source) Rate Chart for the Financial Year 2024-25 (Assessment Year 2025-26): Section Nature of Payment Threshold Limit TDS Rate Effective Date 192 Salary Income Basic exemption limit of employee As per applicable income tax slab rates – 192A Premature withdrawal from EPF ₹50,000 10% – 193 Interest on … Read more
GST-Advisory for Waiver Scheme under Section 128A
1. Taxpayer’s attention is invited to the advisory on the above subject issued by GSTN on 29.12.2024. The link for the said advisory is given here: 2. It is to inform that both Forms GST SPL 01 and GST SPL 02 are available in the GST portal and the taxpayers are advised to file applications … Read more
Classification criteria for Micro, Small, and Medium Enterprises (MSMEs)
The classification criteria for Micro, Small, and Medium Enterprises (MSMEs) in India have evolved over time to better reflect the changing economic landscape. Below is a comparative table outlining the key changes up to February 11, 2025: Classification Investment Limit (up to June 2020) Investment Limit (June 2020) Turnover Limit (June 2020) Investment Limit (February … Read more
INCOME TAX RETURN : ITR-U
ITR-U allow taxpayers to update their return even after the due date 1. What is ITR-U? ITR-U is an Updated Income Tax Return that allows taxpayers to rectify omissions, correct errors, or report additional income for the last two assessment years after the original filing due date. For AY 2025-26, ITR-U can be filed for: … Read more
Mandatory Annual Filings For Companies
Compliances E-form Due Date Applicability Annual Return MGT-7/MGT-7A Within 60 days from AGM All Companies Financial Statements AOC-4 Within 30 days from AGM All Companies Director’s KYC Compliance DIR-3 KYC 30th Sept Directors holding DIN Auditor’s Appointment ADT-1 Within 15 days of AGM All Companies Penalties for Non-Compliance Failure to comply with MCA requirements can … Read more
INCOME TAX SLAB UNDER NEW TAX REGIME FOR AY 2025-26
Govt has revised the income tax slabs for the Assessment Year (AY) 2025-26 under the new tax regime. Individuals with an annual income up to ₹12 lakh are now exempt from paying income tax. Additionally, a standard deduction of ₹75,000 for salaried individuals instead of previously ₹50,000. Here are the updated tax slabs under the … Read more
MSME 45 DAYS PAYMENT RULE APPLICABILITY
WHAT IS MSME: – CLASSIFICATION MICRO SMALL MEDIUM Manufacturing Enterprises and Enterprises rendering Services Investment in Plant and Machinery or Equipment:Not more than Rs.1 crore and Annual Turnover ; not more than Rs. 5 crore Investment in Plant and Machinery or Equipment:Not more than Rs.10 crore and Annual Turnover ; not more than Rs. 50 … Read more