The Finance Bill 2023 (Income Tax New Rates)

 The New Income Tax Rates are -

Rs 0-3 Lakhs - Nil

Rs 3-6 Lakhs - 5%

Rs 6-9 Lakhs - 10%

Rs 9-12 Lakhs - 15%

Rs 12-15 Lakhs - 20%

Above Rs 15 Lakhs - 30%

Rebate u/s 87A increased to 7 Lakhs from 5 Lakhs 

Standard deduction for salary above 15.5 Lakhs increased to 52,500

Highest Surcharge Rate reduced from 37% to 25% in new tax regime

New Regime will now be the default income tax regime for ITR filing purpose

Changes in Presumptive Tax Limit

For Businesses Limit increased to Rs. 3 crores

For Professionals Limit increased to Rs 75 Lakhs

Key Highlights of 47th GST Council Meeting

                      The GST Council’s 47th meeting was held in Chandigarh on 28th and 29th June, 2022 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following recommendations relating to changes in GST rates on supply of goods and services and changes related to GST law and procedure Click Here download press release.

Link Pan with Aadhaar

     As per CBDT circular F.No. 370142/14/22-TPL dated on 30th March 2022, every person who has been allotted a PAN as on 1st July 2017 and is eligible to obtain Aadhaar number is required to link PAN with AADHAAR on or before 31st March, 2022. 

Taxpayers who failed to do so are liable to pay a fee of Rs.500 till 30th June, 2022 and thereafter a fee of Rs.1000 will be applicable before submission of PAN-AADHAAR linkage request.

📌 આધાકાર્ડ ને PAN કાર્ડ સાથે લિંક કરો

 📰 તમારું આધારકાર્ડ  PAN કાર્ડ સાથે લિંક છે કે નહીં તે ચેક કરવા અહીં ક્લિક કરો:

 જો તમારું પાન કાર્ડ આધાર કાર્ડ સાથે લિંક કરેલ ન હોય તો 30મી જૂન 2022 સુધી લિંક કરો તો તમારે રૂ.500 ફી ચૂકવવાની થશે અને જો ૧લી જુલાઈ થી 31મી માર્ચ 2023 સુધી લિંક કરશો તો 1000રૂ. ફી.

 જો તમે 31/03/2023 સુધી લિંક નહીં કરો તો તમારું PAN કાર્ડ નિષ્ક્રિય(inoperative) થઈ જશે

 આધાર અને PAN ને લિંક કરવાના

 Click here  અને પાન કાર્ડ સાથે આધાર કાર્ડને લિંક કરો.

Updated CGST Rates schedule on goods, as on 01.05.2022

The GST rates on certain goods have undergone changes since the introduction of GST.  

This document is only for ease of reference.

Click here to Download Pdf

GSTR-1/IFF enhancements deployed on GST Portal

 New functionality added in filing GSTR1 for viewing summary of returns without downloading the return. Applicable from April 2022

ઇન્કમ ટેક્સ હેઠળ ઓડિટની રિપોર્ટ અપલોડ કરવાની મર્યાદા તથા રિટર્ન ભરવાની મુદતમાં આવ્યો વધારો....

Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22........

ઇન્કમ ટેક્સ હેઠળ ઓડિટની રિપોર્ટ અપલોડ કરવાની મર્યાદા 15 ફેબ્રુઆરી તથા રિટર્ન ભરવાની મુદતમાં 15 માર્ચ સુધી કરવામાં આવ્યો વધારો....

👉 For Normal ITRs (Regular Assessees)

     Original Date    : 31st July 2021

     Extended Date : 31st Dec 2021

     Now, Further Extended Date : 15th March 2022

👉 For Tax Audit ITRs

      Original Date    : 31st Oct 2021

      Extended Date : 15th Jan 2022

      Now, Further Extended Date : 15th March 2022

👉For Tax Audit Reports

     Original Date   : 30th Sep 2021

     Extended Date : 15th Jan 2022

     Now, Further Extended Date : 15th Feb 2022

More Details CBDT Circular no.1/2022  F. No. 225/49/2021/ITA-II  Date 11/01/2022...

AIS_TIS

 Annual Information Statment (AIS)

AIS includes additional information relating to Interest, Dividend, Securities transactions, Mutual fund transactions, Foreign remittance information etc.

If the Reported information(AIS) is incorrect , relates to other person/year, duplicate it can be modified by opting the feedback option.

AIS can be downloaded in PDF,JSON,CSV formats.

Taxpayer Information Summary (TIS)

TIS Shows the aggregated or summarized value of the transations for ease in filling ITR.

TIS can be downloded in PDF,JSON.

AIS&TIS can be accessed from efilingportal - Services - Annual Information System (AIS). this will open a new tab of compliance portal.

There may be other transactions related to taxpayer which may not be available in AIS, Those also are to be reported by the taxpayer.