new income tax slabs for 2025 under the revised tax regime:
Income Range (₹) | Tax Rate |
---|---|
0 – 12,00,000 | Nil |
12,00,001 – 15,00,000 | 10% |
15,00,001 – 25,00,000 | 20% |
25,00,001 – 50,00,000 | 25% |
Above 50,00,000 | 30% |
new income tax slabs for 2025 under the revised tax regime:
Income Range (₹) | Tax Rate |
---|---|
0 – 12,00,000 | Nil |
12,00,001 – 15,00,000 | 10% |
15,00,001 – 25,00,000 | 20% |
25,00,001 – 50,00,000 | 25% |
Above 50,00,000 | 30% |
The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, introduces several key measures aimed at stimulating economic growth, providing tax relief to the middle class, and bolstering various sectors.
Taxation Reforms:
Note:–
Agriculture and Rural Development:
Science, Innovation, and Research:
Export Promotion and Industry Support:
Fiscal Management:
These initiatives reflect the government’s commitment to fostering economic growth, supporting various sectors, and providing relief to taxpayers.
Step 1: Download the Form
Step 2: Fill in the Form
Step 3: Attach Necessary Documents
Step 4: Affix Digital Signatures
Step 5: Pre-Scrutiny and Upload
Step 6: Pay the Filing Fee
Step 7: SRN Generation
Step 8: Verification
GST Returns Due Date in the month of Jan-2025
Form to be filed | Due date | Period |
13.01.2025 | GSTR 5 & 5A | December 2024 |
13.01.2025 | GSTR 6 | December 2024 |
13.01.2025 | GSTR 1(Taxpayers under the QRMP scheme) | October-December 2024 |
18.01.2025 | CMP-08 (Composition taxpayers.) | October-December 2024 |
20.01.2025 | GSTR 3B (Taxpayers with an annual turnover exceeding ₹ 5 Crores) | December 2024 |
22.01.2025 | GSTR 3B (Taxpayers in South India under the QRMP scheme) | October-December 2024 |
24.01.2025 | GSTR 3B (Taxpayers in North India under the QRMP scheme) | October-December 2024 |
Income Tax Compliance / PF / ESI Due Date in the month of Jan-2025
Due Date | Form | Period |
14.01.2025 | TDS Certificate(Issue of TDS Certificate under Section 194M ) | November 2024 |
14.01.2025 | TDS Certificate ( Issue of TDS Certificate under Section 194S) | November 2024 |
14.01.2025 | TDS Certificate(Issue of TDS Certificate under Section 194IB) | November 2024 |
14.01.2025 | TDS Certificate(Issue of TDS Certificate under Section 194IA) | November 2024 |
15.01.2025 | Form No. 49BA | December 2024 |
15.01.2025 | Form 15G/15H | December 2024 |
15.01.2025 | Form 15CC | December 2024 |
15.01.2025 | Form 24G by the Government | December 2024 |
15.01.2025 | PF & ESI Payment | December 2024 |
15.01.2025 | TCS Certificate (Issue of TCS Certificates in Form 27EQ) | December 2024 |
15.01.2025 | Professional Tax | October-December 2024 |
30.01.2025 | TDS Certificate (Issue of TDS Certificate under Section 194S) | December 2024 |
30.01.2025 | TCS Certificate (Issue of TCS Certificates in Form 27D.) | December 2024 |
30.01.2025 | TDS Payment (TDS payment for December 2024 under Forms 26QB, 26QC, and 26QD) | December 2024 |
30.01.2025 | TDS Challan-cum-statement | October-December 2024 |
31.01.2025 | TDS Return Payment | October-December 2024 |
GST Returns in December 2024
Due Date | Period | Form to be Filed |
11.12.2024 | Nov – 2024 | GSTR 1 |
13.12.2024 | Nov – 2024 | GSTR 1 (IFF) |
20.12.2024 | Nov – 2024 | GSTR 3B |
25.12.2024 | Nov – 2024 | GST Challan Payment(Input Tax Credit (ITC) for November 2024) |
31.12.2024 | FY 2023-24 | GSTR 9 & 9C |
Income Tax Compliance / PF / ESI in the Month of Mar – 24
Due Date | Period | Form to be Filed |
07.12.2024 | November 2024 | Challan No. ITNS-281(Payment of TDS/TCS was deducted /collected Nov-24) |
15.12.2024 | November 2024 | Professional Tax on salaries for November 2024 |
15.12.2024 | October 2024 | TDS Certificate for tax deducted under Section 194IA |
15.12.2024 | October 2024 | TDS Certificate for tax deducted under Section 194IB |
15.12.2024 | October 2024 | TDS Certificate for tax deducted under Section 194M |
15.12.2024 | FY 2024-25 | Advance Tax Installment (Third installment of advance tax for FY 2024-25) |
15.12.2024 | November 2024 | Form 24G for TDS/TCS paid without a challan in government offices |
15.12.2024 | November 2024 | Payment of Provident Fund & ESI contributions for November 2024 |
15.12.2024 | November 2024 | Form No. 3BB |
30.12.2024 | November 2024 | TDS Payment |
30.12.2024 | November 2024 | TDS Certificate (Section 194S) |
31.12.2024 | FY 2023-24 | Return of Income (Filing of revised or belated income tax return for FY 2023-24) |
Due date | Period | Form to be filed |
28.11.2024 | FY 2023-24 | MGT 7A (One Person Company does not require to hold AGM, yet the due date for filing Form MGT 7A shall be 60 days from the completion of the 6 Months from the end of financial year ) |
28.11.2024 | FY 2023-24 | MGT 7 (Form MGT-7 must be filed with the Registrar of Companies (ROC) by all the Private Limited Companies and Public Limited Companies) |
The GST Returns in the Month of Nov- 2024
Due date | Period | Form to be filed |
10.11.2024 | Oct- 2024 | GSTR 8 |
10.11.2024 | Oct- 2024 | GSTR 7 |
11.11.2024 | Oct- 2024 | GSTR 1 |
13.11.2024 | Oct- 2024 | GSTR 6 (Input Service Distributors) |
13.11.2024 | Oct- 2024 | GSTR 1 (QRMP) |
20.11.2024 | Oct- 2024 | GSTR 3B |
20.11.2024 | Oct- 2024 | GSTR 5 & 5A |
25.11.2024 | Oct- 2024 | GST Challan Payment |
Income Tax Compliance: PF / ESI in the Month of Nov- 2024
Due date | Period | Form to be filed |
07.11.2024 | Oct- 2024 | Challan No. ITNS-281 |
14.11.2024 | Sep- 2024 | TDS Certificate (Section 194IB in the month of Sep-2024) |
14.11.2024 | Sep- 2024 | TDS Certificate (Section 194S in the month of Sep- 2024) |
14.11.2024 | Sep- 2024 | TDS Certificate ( Section 194M in the month of Sep- 2024) |
14.11.2024 | Sep- 2024 | TDS Certificate (Section 194IA in the month of Sep-2024) |
15.11.2024 | Oct- 2024 | TDS Certificate( Quarterly TDS Certificate for the quarter ending Sep- 30, 2024) |
15.11.2024 | Oct- 2024 | ESI Challan |
15.11.2024 | Oct- 2024 | Electronic Challan cum Return (ECR) (PF) |
30.11.2024 | FY 2023-24 | Form ITR-7 |
30.11.2024 | FY 2023-24 | Form No. 64D |
30.11.2024 | FY 2023-24 | Return of Income |
30.11.2024 | FY 2023-24 | Form No. 64A |
30.11.2024 | FY 2023-24 | Form No. 3CEAA |
30.11.2024 | FY 2023-24 | Form No. 64 |
30.11.2024 | Oct- 2024 | TDS Certificate (section 194S in the month of Oct- 2024) |
Section 10AA of the Income Tax Act, 1961, provides a tax deduction for businesses operating in Special Economic Zones (SEZs) in India. This incentive aims to encourage exports and boost foreign exchange earnings by offering a phased tax deduction based on the profits derived from export activities. Here’s a breakdown of how the deduction works:
To qualify for the Section 10AA deduction, a business must:
The deduction is available for a total of 15 consecutive years, divided into three phases:
This deduction under Section 10AA is beneficial for businesses looking to reduce taxable income by leveraging their export profits, as long as they meet the eligibility and operational requirements.