u TAX RATES(Ollp & NEW SCHEME) ‘TAX RATES FOR I/HUF/AOP/BOI/AJP - OLD SCHEME, I ‘TAX RATES AND SURCHARGE SELF NOTES 5 | APPLICABLE TO OTHER ENTITIES OPTIONAL TAX SCHEME > Ohl ta echeme Parcs ‘Vinal nAOPBOTAT CACS VIJAY SARDA @ 8956651954ALT TAXSCHEME er teal HUE 1 AOP/ BOL) AJP have to pay as per sec 115BAC ofthe Act as default scherme however they may opt fc old scheme. with m * Fem /LL0/ Loca Antony /Frcgn Co-No AeratveTax Scheme (0 available as of now. ae [erst u/s 24 in resect of elf occupied ‘or vacant propery referred on See 28(2)- (Loss from house property for rented house not beallowed tbe setofunder Deduction: any other head & would bellowed to 1 Deductions See acco UD) bef as per extant ae) (employer contibaion on pape: ‘sccountofemployee in notifed 1. Additional deprecation u/s 3201 pension scheme) & Se 80]1AA 2. Deductions u/s 32AD, 334B, 33 (ev employment), s0CCH(CG his moeml place of ty 5. Standard deduction u/s 163) 3. Various dehuction fr donation fr or ‘contrition towards Agni ‘expenditure on scenic esearch scheme a) ‘contained in sub-clause (1) (ia) (i) ‘fsul-sec(1) /ub-see @AA) ofsec 35: GRP: [Link] u/sS8AD orsee35CCC; 1 Depreciation isallowed. 108: 1. Deduction from family pension w/s 57) eduction: (eoaptspodaenmt Exemptions: Allowances to MPS/MLAS ec 10(17) [Link] for income of minor see 10(32) 3. Exemption for SEZ unit contained in sec 10AA 1. Any deduction under chapter VIA NEW(Default) Rebate w/s 87Ais subject to math net income exceed 7 Lakh but does not exceed 7,27,70 income taxon such income cannot exceed the amount by which net income exceed 7 lakh. [FA23] ~ "SLAB RATES HABE ‘Condition :1 Restriction on claiming dd aiming deduction or exemption Pati Sec IISBAC (1A) [FA 2023] ie Deduction can't be Taken Deducton can Be Taken “oul income [Rate (W)SHortet ‘Salary: Salary: ‘Upto €3,00,000) Nil BS Tare tre concession ec 10) 1PTranspor Allowance granted o Peer | 5% | 15000 | ee etalon 10) a dipeogemiyee Races [zom | 30000 erianinentdowane [Link] Mloence seta. [ise | 43000 | * Employment profdonal txw/s16; Any Alowance ane to met eters. 20% | 60000 | 4. Free food & beverage through the cost of travel on tour or on roe 30%. : ) soucher provided to EE veaser labore RAL [Link] mentioned, Dally Allowances Rahalew/s 7A (Ptecion CRveh any,“ daiy bars nad nt a: Vode aieedn tt, _ 1) Asesce is nda | HR: Ls ‘by am employee on absence from 2) Fe js Resident in India 5} Whose total income (From All Heads after Deduction) (Normal + Special exchaing Agriclture Income and Exempt Income) does not exceed 87 ak = Tor To0% of tax payable, whichever is lower Tebate not avalible Tor ax computed u/s 1128 [6023] eed 7h al rele from AY, 24-25 if lief in case ofinso + Further Points: 1. Income Chargeable at Special rate Condition 2: Without Set off of any loss €/for depreciation from an carlier AY, ifthe same i attributable to any ofthe deductions referred in point A. Also without setting off ny Toss under the head House Property fvith any other head of income. Both the loses mentioned cannot be c/f "ning Ico wa 1A 12 TR iiend ince ee at ace SL] “ining Ince ws TIA, 13K vied nome cd SL bl des ot exceed Ltd i [inci Income ws ILIAI112A we vied | Income ence et al doc ot exe 2) Fes Incone ws IVA. dv [ncn nner but des not excel er) lining income we HUA I12A& died Condition 3 : For opting the Scheme 115BAC asesse(1/HUF, Irassence/HUF) sesh name has busines nome + 1. Before filing ROY Every year before flingof ROT 2. Oner oped cannot be withdrawn except Bess al Inne exes rb ot anne yao 1) For the esdentco-opeatve society, ax rate wil be 2.168% (Tax 22% + surch 10% + HEC 4%) 2} The condition for concessional at shall be thatthe total income of co-operative society i computed - 2) Without claiming the following deductions _xemption for SEZ unit contained in section 1OAA Additional Depreciation u/s 32()ia) [yDedactions u/s EAD, 33AB,32ABA,35(/()/GD (1)(QAAY/35AD/35CCC Provisions under Chaper VIA (exopk cpoeitied ) 1) Without et off any lose or depreciation from an carer AY ifthe same ttbutable to any ofthe deductions fered in point A. A the same cannot be carried forward | 6) By claiming Depreciation u/s 32 except Adkitiona depre. 4) The oncesiena rte shall not apply unless option i exzrised by the co-operative society inthe prescribed tanner on/btore thedue date spected u/s 139(1 ofthe Act for furnishing the returns of income for any PY ‘Rlevaatt the sscsen year commencing on or ater Ist Apr, 2021 and such option once eerie shall apply to subsequent sessment years 4) Provision of Sec 115). AMT shall not apply to sch Resident Co-operative Society. Similsty, provisions in See 15)D relating to cary forward and wet of of AMT credit fang. hall ot apy 5) Option once exercised cannot be withdrawn, | Asesse - Engaged in Manufacturing, [Link] Society in India (Resident) wet 2-Following are rot considered as manufacturing: {@ Development of compute sofware in any form or in any medi: (i atinings {iy Conversior of marble blocks or similar tems into slabs; (i) Botting fs into cylinders {G) Printing of hooks or production of cinematography film; or {3 Any other busines as may be noted by the Central Government inthis behalf 3. Tax Rates ggecial iAcomne gocable GL Cpooel + rdle Out of Manufacturing, Other Activity Activity (EgDividend Rent) 176% 25.1685 (sto tax+ 10% of x6 tax + 10% of surcharge + 4%6 HEC) surcharge + 4% HEC) 4. Option once taken cannot be withdrawn 5, Deduction v/s HISBAD cannot be taken ere it was exercised by asesee having, bosines income for PY. other than the yearn which exercised aoeCoins ob Tar waling conceal ae aR escmpion on xT [Conditions The company soaite sup and gated on crater 102019, Rrowme tt peal ek eting [oman and new cman can aa fet er fentactringora fc company ‘ation an arte fethingom a belo Fa soul ot ore yang oF omarion ep prenin See 338 ios cnion Fr should noo PERE Ne iar cndon evil ed [Hsia nose Dag reo ed at bot No sar condtion 4 Partly [Section W5HAB [Section swan] [Fortean] Section Haman UL Arrcitty [Domenic MF Co | Any ome fmnnncringets pe Sina fom 7 pinata | Roepe — | ea Soe 1. [lective rate of tx 176% B16 E ro including surcharge |{Tax@t9% (+) Surcharge tangs ()Suchar hc na ee cote & HEC) General Rate | @10% (+) HEC@4%} [aon (+) HECAON) ” aaron pxia eos 1 eee oo Pe RCE tse Mia” |aetaprnece ns [een mea one Ce dared] —— sar sas sees frames cfcapiat” | rangazer ers | cra ees ae yh Co bal fscronstchn | Stren | Sines i aoe a pect ceed ee] [Adjustment f % ela ae Re ro a Jrnscton with ce [rax@ son surion | vegued SBA sh tn date {connection by ACD 2 HEC 450) pene ection of fllowng oc fra terete | sce a airs [esedacee™” [mmesirarin | cuenmrne Ss ana frondea HEC) Tom He) Deion Ses Seni Ses -Naeel abit SCAN abn rach CISA Spain Stee l becepnnt Sede esate Seta Ai fac etn [wien tetany | hig er |v inte cea pner ngs ‘atlas nse eet ‘ce LANA sa Sentra gol ‘Stent yer nett te Sno pt J Kol ot epee ny buss othe han yee ther | conden rouction of ate thing recreated ther CA CS VIJAY SARDA @ 8956651954 Xf oy vite es fond wethe cyne ony We ay el ov ober able arte andthe assee ioc ble oe of ane expan seo mt eon Assi ly be eed oe be ome te roscoe sch FY Ste trem eee mation ore a explant er sasictry the exon sun maybe tree an were mses bas ncurred ay expenditure spd he oles no sre ot the source of ach expendtre oor the yang fered by hi sti the opinion of the Mor the amount covered by sich expenditure of the cse may be, maybe deemed tobe the se for such FY. Whee one Shan Nests eee Ieee ote 20 wee aqanecbgrloetntrdt a reece enhn et ee Scie Seog ene Sita deren eee oee ie rts () The unexplined money, investment, expendi, et tleemed a income under se 68/69/6949 B/G9CI69D ‘woul be taned @ 60% pls surcharge @25%, Thus the ‘Hective rate of taxis 78% (60%6425%+HEC 485) (Go Nobasi exemption or allowance or expenditure shall be allowed tothe assessce under any provision ofthe At 196 in computing such deemed income. (Gi) Further, no se off of any ls shal bellow apsinst income brought to tax under Se 6/65/69A/59B/59C or sD, i | __ BASICS OF RESIDENTIAL STATUS] [LRSiskermied fr ach opr ofpenon pera 1 2 RS always determined for PY because we have to determine the talneme ef he PY ony I siesta freee rcs may change ya year “CAperon ean bere fmere tn n otyray P 15. citizenship ofa country & RS of that country are different comes eonsnfrot ean [Role ni em Fasumed tha they ae Resident Onus 1 LEER HE Jiathey ar nt sent son the ‘Aperson can be either be a [Non resident] T eras ‘ondion rae [owes nin a ing eye i ee aaa nn dairy 1 stays infor 182 days or more or else remains Non Resident. J Peon leaving nda or Employment. 2 Ship cew member. | 3 Peon f Indian origin, ‘Peron Indan Origin: A perso i deemed be of indian 1 cage rete oti prents cay af is prendparne ‘as born in Undivided ind maybe noted hat grandparents 1 incl bth maternal an paternal rad parents 1 [Link]/ [Link]Secs Rory Soweto 2 pence Fen | Exception: whee ts payable or enter 1gany lamp sum consideration for: ‘ny rights inching the granting of license n respect of patent, vention, model, design, secre formula or proces or tade mark or similar property: ein Ind 2) The imparting of ay information concerning the working of or the wie ofa patent, invention, model, design secret Industral, commercl or sentfc knowledge, experience rsh: ‘Theuse of right to use any industrial, commercial or scientific ‘equipment but not inloding the amounts referred to in sec “4BB; the transfer ofall or any rights (including the granting ‘selene work including ims or videotapes for use in ‘Connection with television or tapes for ue in connection with a peo Rp cod Inte adler No ation of persons issaid to RESIDENT, very ease exept where during ofits ais is stated “Table in India jgn | Taxable in india ©) NRin respect of FS payable in respect of services wized IER pys intrest fo activities oer than business ot profetion in nda such interest snot Taxable to NRin OF thE PaEPae of ines or proesion carried by such person in Indi. terest to NR outside Inia for carrying 3m outside India then such intrest CA CS VIJAY SARDA @) 8956651954| AGRICULTURE INCOME: w/s2{1A} ome is exempt rom income tax u/s 10 ( me tax act indirectly 6 culture Income all within the stat Hence sh lected By SG. [Link]-144 Where any expenditure i ine xempt Income the same shall not be allowed as deduction, List Entey no 46, fed and There are 2 typ The urs of agricultural land 1} Urban 2] Rural Tand is not defined but rural Land is defined. {Upto 2km if population does not exceed 10,000 to ska if population docs not exceed IL Upto Skin if population does not exceed 10,00,000 Expl 4: Population means according tothe last. 1 before the ist day of PY Pore Testa 1000 census publi Reval Rural Urban Rural ‘iba Rural Distance 0h Distance 0-2km | Distance 2m Distance 2m Distance 6-8km | More dan 100 ess than 160000 More than 100000 esta magica in thas compan sinegrated Income grculre Composite Income. Ths Income needs to be di into Agricultural income and non agricultural Further no dedction i permissible expenditure incued by Assesse. Growing aed mnulictrng rer Sroing and wanting cote pon & Card Growing acd wanting cote pen cre, ousted al grounded HOUSE PROPERTY Tesco must Property must not beted for own busines & roesion ppartenant thereto owner ince this ead maybe charged . 7 re respective esting isthe main Wns ening puch property [owing anc anf Ten ee secant coe | san EMV of Produce epee “Applicability: Applicable ony BOI, AIP. and not applicable to firms and companies, Minimum agricultural income: Should exceed 85000 ‘Other income: Should exceed €250000/300000/50000 as the case maybe 3) Distance 68k | More hun 100000 | _ Urban step Agel Income + Now Agricola came Minor Earning Income from Agriculture shall be chargeable as per section 641A) (Refer Clubbing chapter) itep 2 Taxon Sep 1 RUN ys TT CORPORATION TAX es ting isnot ine at Leting the ain sins ting not ie [the main busines rating of such poverty cept the case where letting outs forthe purpose of reyingon the busines inthe ecient manner and leting {Snot the main business, Assesee is ROR ‘Assesses RNORNR. asain india Ont cetis [| Taalein india whether propery rceveda ‘im india oF Outside AV shall be higher of RR or ARR. << Tse pee Ite 3 Agricultural income + Basle Fremplon Limit Itep Taxon Sep 5: Diferenceoftx[Siep2- Sepa) Sp GrAdd Surchage/ Les Rebate, Add HEC ep 7: Final Tax Labi EBBBEEE Ee ae, rat bn) ¥ sie [Goons see baled “i sgiminae, Se eee i eae ae Capt at CA CS VIJAY SARDA (@) 8956651954 Ifan Individual opto be taxed u/s LISBAC, the exemption shall be limited to ® 300000 whether such individual i ss than oF more than 60 years od > Loss from agricultral shall be set off against agriculture income only. > Mauch loss could not be set off in that PY it shall be cf & set-off in following AY for not more than BY against age income only. ER cannot exceed expected Rert (SC) & Amolak Ram | Khosla vs. CIT [1981] et [Link]/ [Link] SEC 24 DEDUCTIONS FROM ANNUAL VALUE Under default tax deduction on account of default tax regime u/s 1 refered to in Sec 23(2) ie self Oc property [FA 2023],TOONS enue -Choe be option ih Ba Ws f f : ar ‘or higher loss AUC Mn mer it ana caa hi payable outside RACs eS wed Notes: esparanet pido dete fonn sch tere and * Tt eption canbe changed yea ae i Ind Benrfiilt the asenee ico deme pone he “ | ose th ome apc en ab : CHANGEABLE The Maines ees ih & ; 1 Ween indus ound li th insects of cc 2,00,00/30000 Gl : | oer its said that there exits 3 relationship of ER a opty was outa any pat ofthe year SEC23(1)(c) LET OUT PROPERTY VACAN : oer benefits ha een deste fom the property Moss {self occupied property shall ot world be no det Ab) ander deat roperty refered tn setion 232 cw oe een a eee aaa ‘est Manipal ax actly pa by he own pe property (FA 2023] Fe Lest Deduction Sanda dedi Interest on borrowed capital Income rom House Property Anan shall nt be ded Annual a ie Gav. WHEN IS SALARY CHARGED TO TAX Salaries charged to tax ether on DUE or RECEIPT whichever matures caler Exception : Following salaries charged to SSOHPOHT receipt basis! Advance Salary Bonus €, Salary in hew of notice period aly due a ‘er pson anecy Tt any he -aR=GaV RER() loss duet Less- Deducon wie 24 Whee the property consisting of any building rb ; i} Saderd Detection Appurtenan thereto shel as stacks and proper) OF an any prt ofthe property ott daring the whol or a at of the PY, the annua ale of such propet fpr of the pope for period upto 2 year from end of FY in which he cetiate i ce ‘of completion af construction of property is obtained fom the npelent authority, shal be taken tobe ol snd ‘COMPUTATION # Salary inchades The contribution made by the CG in the PY, to the Agniveer Corpos Fund account ofan individual enolled in the Agnipath Scheme referred nsec BOCCH. [FA 2023] rlon la complce within 75 7 WTEOR. of Yn which cpl sborowed RiprO noes casa of 80000 [ateae Ano PAO mkuoe yi OUR eS ' Re eee edcton) jecmed a Basic ea ee a Se Income hal be eateted for he we era dered eta | ‘soa taken reps and maintenance et out property V ckees Loss fom we Dopey rss 1 1 1 1 1 1 vaaney=GaV gd. Arvear of Salary 1 1 1 1 l TH |b Adeane/Arens ft Mana x ace oer PF Commision |e J {lene Encshines, ao Vnconunited Pension TSOP [2 sor [FIDLOF re 4) Standard deduction Bur ited Pe a pr spe 8 test en brew cpa Uti Less: Municipal | Ni | NL | fan) el eee fac pd Na ecwn | SY] SY | oe PROPERTY A PORTION OF WHICH 1S Somird | x fox | geay | LET OUT & PORTION SELF OCCUPIED coon Se eal ee There isno need Usa! the woe property asasinge tore os fins ints tne {| _unitfor computation ofncome rom house propery [tocar [asor ay ae ie [ Les: Municipal tax actualy pid bythe | (ee) aa je, oa ess Atniapti | Gasp | owner rel yur xi “atl pal (os) xe | om Le Deion ; [sind Sait = Sand dston a Ierston ero apt exten) Interstontorewed |G) | a) acne om owe Property col usin [nt 3 lav em Deduction wi 1 1 1 1 1 nan tor = ae ; sor 1 1 1 1 1 CA CS VIJAY SARDA (8) 8956651954 [Link]/ [Link]SUSU Se ay ou place of bss etc HRA needs to be eluted separately 2. ny Advance Slry halle exclded fr purpose ofthis ‘alealtion, -1Bsenion Wali not walsbeiFRent paiditess tanto || ois {Theta or cto sion faction & notefsemce i\eait Tu faa era agin (F420) CA CS VIJAY SARDA ( 8956651954£3 Ree ero ao ae rere Exempt from Taxable ‘chargeable to tax tothe extentitexceeds balances exempt from tax. (Qverall Cap Limit ntructed By nance Act 20 > The amount or the aggregate of amounts of any contribution to account ofthe arvesse by the employer— ssa Cfertendd 7OMaialRINT wine — PS sce condones presi : Fallyesempt sempewis 100) | leo ews i) | pucariownacny, | 71 4 ‘Where eduction fait is where educations fin TPRORAEUIES provided to employes cilden vbr he NOWEHOIA Other han cdcen) | 4 2 may {roe mane | TOR ONAL ATTENDANT TraresOa EL Ae Oy Sorensen GPF +Fenion + 80F. > 2.90.00 induding ill = (eR Cytare = Pork - CA CS VIJAY SARDA. (3956651954PUTA CA CS VIJAY SARDA @ 8956651954wo med tobe income of PY in surcharge on dividends & 2A shall ot exceed 15% iy No expenses except above th SI sen recived ya forsenca come is taxable spe Se ccumultel pois wether panda saipaating company oat of alpen PROPERTY M ee % “The Payer Company now [werd pre 2 "i The Pye Company ila fiero ot ef Reet wire Sr 9 cae of No eset Sinese of HUE“ A Went exec. Pg CA CS VIJAY SARDA (9) 8956651954 [Link]/ [Link] WFAMILY PENSION CA CS VIJAY SARDA @ 8956651954FIRST PROVISO TO SEC 48 6G IN CASE OFNR (CAPITAL ASSETS MUST HAVE BEEN | TRANSFERRED GAIN MAY BE POSITIVE OR NEGATIVE he prod oth sal bene | om he date of Acton ere “THERE ARE2 TYPES OF GAIN DEPENDING ON hare le ‘CAPITAL ASSET [Garrone The peed of ang al onde oodim shes om hedaof Acgeonel Bon! Lae ares Tar afRatnos Tro Phe pvt dg alindaitie Teese romance | felch harvey aie which become | The pid ofhadingdallinddetie propery of wseete_ | pt or which hunt or ante a Eesieraton eran] consolation of muta nd werehellby| fst thease Pasetsxuredby | From the dat ofAcaistion sce Vale of Consideration | xxx | [Fal Value of Consideration | [Depreciable Assets |Always ST irrespective ofolding period | [imemenie | Ged | femtpertonee || IComerin fs no [ron the SIT we aed Eremtauee | os | scat z ftewiconsthegastin | (ax) | flew indeetcoace ffm) [CA 7 — ian company held by hing SABO or feecetaiermmees | = Tneidateoe [om Coch — Feleal thepuross of compustion of VOC ede ha eco Inco acini] (2) wx | See Wt ACK Ee TV sox_| setts |) Hunk —9 Avy (908 S00) CA CS VIJAY SARDA 8) 8956651954 [Link]/ [Link]CG EXPRESSLY EXEMPT Fresemtemstion 3 Taxable in yr of roel p [Ano gen srr nchrty Th ot epsered with Stamp Duty ih Agecmet oll or power of a aah Ee ‘SPECIAL CASE IN CAPITAL GAIN INSURANCE SEC 45 (1A) CG BETAXABLEIN YEAR OF RECEIPT(MONEY/OTHER ASSETS) FROM INSURANCE CO. = Amount rceveda Vlee ExpesseronTeamer on rel ia nigh CA CS VIJAY SARDA (8956651954 [Link]/ [Link]SEC 50CA UNLISTED SHARES SEC 49 COST OF ACQUISITION” ROVISO TO SEC 48 INDEXED COST BENEFIT OF INDEXATION NOT QuETION AND PACQUISITION & IMPROVEMENT "AVAILABLE TO [rng] ‘SEC 112A'TAX ON LONG TERM CAPITAL | GAIN [SEC 10(38) ABOLISHED] shares : om ED) Loner) Se Coniderston or) PAV axon 1.12018 3 siete prevosomner (enlore 2001 Tnpro inate) | Pg CA CS VIJAY SARDA @ 8956651954 [Link]/ [Link] 15NOTIFICATION 60/2018 EXCEPTION TOSTT PA IPS hi poy Hid Ips Pepe ofA | lemme eben SEC 46A CAPITAL GAINS ON DISTRIBUTION 76) [Any transer by way of onversion ofl OF ASSETS BY COMPANIES IN LIQUIDATION. [aentres any company rn am ( i any ee) Hanser ofp ase under Revene Monge CA CS VIJAY SARDA (9) 8956651954. [Link]/ [Link]CIR. NO. 743: UNUTILIZED DEPOSIT UNDER CGAS IN THE HANDS OF LEGA eins) | [Sexi Recovery of bad Debs inthe C. [Link]/ [Link]1. Assessee: adidas Firm (Not LLP) (Resident) 2 Bape in specifid profession defined w/s44AA(1) 1. Assessee Engaged in PAM Is*% Building > 10% Farrilore 3 10% Caleale Bop 62 iP in pam ‘Tangible oe habavaae in Qui (Gooduaill Dividt total Ogp. 00 basis of no- t Sale rie) © foyt cued ted ~_ CACS VIJAY SARDA (9) 8956651954 __ [Link]_Soldwithout being sed For other Deemed Nature of Expenlitore Allowable we deduction CONDITION sie (a DEDUCTION “mewsconedisman/nan Chal eect CA CS VIJAY SARDA ) 8956651954Actual Bad Debts > Provision for ‘Actual Bad Debt - Provision = Difference > Only one account will be Debts of Rural & Non-Rural Branches, Sen za ofc + ‘Actual Amount 20% of PGBP ‘Transferred to Special Reserve (11) See36(4) (bx) Expenses. mt onsen = Tayowed) 31) (12) See36(1)(«vt)Planning of Sugar Cane sisson paid to Employees is allowed, should not be pls prot or dividend ‘enon tan weulgedeg uae CA CS VIJAY SARDA () 8956651954 [Link]/——~CA CS VIJAY SARDA © 8956651954ite by ‘Theerpesio apendtre ncured woul incade and would beRY on > Forward exchange > Foreign currency ta by Partnership Deed, ould pertain to the prio after the “The profit eared in the busines sal be abel ne 3X falling maine Fee Capa pape “Hany banking compan. poste ings tankor co-operate bank; A Tanscton af theatre eer tin se 2088 = ——~CA CS VIJAY SARDA © 8956651954ROR dal anaes Income from sch ase, in hands of Tansee, @ melas indo ‘reultous method was adopt ‘he implication of 1: Loses incurred by an assess from the maintaining racehorses canbe set-off only against the ome from activity of owning and maintaining race horses the oss. [Link] canbe Cif max upto 4AY family planning othe extent tard business or profesion loses (Section 721) FIC . Lcoaisti leprecaon [Seton Los ‘Lest: Dividend o/s 947) Blane Low can be Ct = mein peri 3 month pr tec at ‘ll original tof and caried forward for set-off against TCG by virtue of section 703) &74 CA CS VIJAY SARDA () 8956651954SECTAB wo 744 aes to carry forward et of pst ea tones see « om ay ater hea the ‘erent of 2 during the same year The unabsorbed loss wl be cared forward the folowing AV to be seta guns income under the bead HP, (0) the assesses pasta concessional ates AUSBAG. The os under the head HP would be carried forward othe flowing AY tobe set guna income under the head HE wa2023) canbe carried forward for 8. [return fos sot fled or filed late lox can be fared forward tse section 72: |- St of wth both busines income speculation with bodh LT & ST = Cary forward for 8 AY HAs ce Past yur hors lr canbe et only with orse ‘income. Pg [Link]/ gear ae2 Depe tn th cas of an individual the nda ising Resident ‘spouse chidren parents, brothers and sisters ofthe [he asesee at any tine daring he PY cere] ‘vidual or any of them; nthe cate ofa HUF, « medial ator ‘ember ofthe HUR, dependant wholly or mainy on j sccesteutory bea peron with dsably | er ividua ot Hinde undivided fai or ho [Amnunt ofdeduction] | support nd maintenance, and who has not claimed Deduction ere db] any deduction u/s 8 in computing his otal income [Sever dsbteyf80%) Peainga nel ‘mount pad or deposited unde the scheme thal be cm deemed to be the Income a sees of PY in which i Such mount i rectred. However this provision sll Cerebral pls" & tiple not apply othe amount received by dependent, being 3 treo in se 2(a(€8(h) ofthe National Trust| person wth disability, before his death by way of or Wetiae of Persons wih Autism, Cerebral aly, L_[tentinacdror taupe Baca tn, lngividual/ HUF being Res ep ‘Asesee raining & Provided thatthe deduction unde this ection shall be ‘Contribution to ‘chabltaton of dependant being perion with reduced by he amouat received, any, under sn sabity Amount of Deduction Restriction Amount should not be paid in Cash Any Amount 100%) gta hvapetefunyea don scout of pre ha staf ry or Becta Test [WIE neaningo Se 82 the Companies Act. 213] Individual] ls name of individal/Spoure/Parcan & [Amount of [Minimum often fesaaacss cameam Deduction [a Interest oa such depos in saving acount o)Rs.10.000 _ CACS VIJAY SARDA )8956651954Meaning > Condition [Gonaiion Espen einen p> Asesee dos not on any Residential hows the date of sanction ofan dal HUF irespective of Residential Stats Payment aay mode [any mode her mode fotherthan fihncnh incading lash ery [han cs ‘Amount of Deduction? [Maximum Dedction [Peduction = last of [Condition f Investments made in approve scheme Pci as nao P Payment need not necessarily made out of | [einen nc Pee Fond UT income chargeable ax eduction Actua ners pai or Ra 0000 [> Deduction shal be made ony on psyment ass dition} The deduction salle sujet othe aawing oton accrual basis |conitions, namely Mnsinepacteht > The stamp duty valu of siden out property doesnot exceed 84 asthe ses doesnot ‘own any residential house propery onthe date of snetion of oan [ning Sanya 5) Asesce doesnot own anyother Elec Vile on the dt of sanction [Deduction interest Paid or 150,000 whichever slower ergy would qualify for deduction u/s 80D. mee | Pg SASSIaE SIDA SESSION: ‘[Link]/ [Link] 27 |SEC 80CCD CONTRIBU' [The atoun of deduction in respect of various kinds of donations is: Rarcore coe fFanfovany an wich nthe | vas] 2 ‘Trast/institation to which donation is made [conditions given u/s 80G(5) at [eensn Fs Government oranyloaTauiorin | es | 50 i /utilised for any charitable purpose other thar aera oe ss cc oman at panning | ay fitiersCrenAsiance dein | %® | 1 | arguing comet nda ting es | gy ey Sins un Pt Corso) Sel or hong acemmoduon ofr JPM Armenia Earthquake Relief Fund No, 100, lthe purpose of pl develope of [AG (Public Contributions - nda) Fund No [100 fetes. towns and villages. o for bot ation sto esto or Conunalarm_| Ho | 10] Pay opraton rere in =e [esas fsatond [Na] 100 | x promoting he minority community Lm fas [Stamps ramabr To [vas | lown. harashtra Chief Ministers relief Fund 7 No 700 | [such temple, mosque. gurdwara, church/ot |Canteiveion| Earthquake Relief Fund [notified place Fete or Garatimerirnia J oma [00 ee a ci eacareneres =f jase Sista Sem Ne feational Fund for control ofdrog abuse | np | 100 4) oa oleae. Soon No [constituted u/s 7A of the narcotic drugs staptos sax con wees —| he [conan [etaceiohepoor eosin yn Wr Randa Noa] No sri tan Race Cane Wer lnc Pi ch Chl ee an — No {Condition 3 [National liness Assistance Fund No etre Rand ew x Gowan [Nationa Sports Fund tbe setop bythe CG [Nor approval u/s 80G{(5) onthe ground tat the trust has failed National Carl Funder up bythe CO To to apply 8596 ofits income for charitable purposes? Freee mee ae etopremn te ne tr rer = a ene ombele benbee i perros pence enh fee Eso re ee 4 [Anysums pidby the sence between an26, | No | 100] extent of 85% ofits income during relevant year. High aie oe Co a ee es ee rae ee peracetic een re =e Ee — ise tiet tthe eos | STE || wy — Ene PE Sear ea enn ten petucton Serr sums paid by sc, bg othe ssdonaions to tndan Olynpc Assocation o Meening| [Dependent | Peson Covered | ves | 100 ee inven, Spouse chin paca Terms tava lores ster ofthe india. s HOF [Any ember wit kung Ade GT, anal nome he winning romoneres ete sal ended tee CA CS VIJAY SARDA @ 8956651954 —_ wwwyle: S:| Employee Whose Total Remuneration exceed %25000pm rent under person who ste and frst intr of and whore names enteedon the ot be acpied by the asec by anyother person or as aes of any ) The asec arises log wth RO! repr of count 1 dined inthe Eelanaton to Se 288 before the ‘posed date refered to in ee 44AB pring sch orto in report as may be prescribed Form 10DA] in respect sach come under anyother [proriton fthe ct forthe sae fin any other | f eoaty earned outside nda the ddocton is allowed oni such oats brought India in Convert Forex witha 6 fom teen of PY oF time allowed by REL Sens «lebols acetate of eigibl business rom the Inter. Ministerial Board of Certcatin as noted inthe Of Garett bythe CG. is ‘Sec AML) - Where a domestic company in any PY receives dividends from- Amount of Dividend Paid on o before the due dite. CA CS VIJAY SARDA & 8956651954Foran [Remnmnioe eared om 46n rgn Got (En) daria 2 fina opie raining Assssees ho areligiblefor exemption: Exemptions avalabeoalleategores of asesees who has tnitin SEZ. Period far which deduction isarailable For fist 5 years 100% of compte prot For Next years % of compute profit Fon) : For Nextyeas~ * Toa [ hy sa " x Exgortarmover of Unit SEZ roma [aay Pomae a Toul amore of Unt SEZ Meaning of Export urnever: : -means the consideration received in Ini or 0 igi) [Person eee ec oda 4 India by Wales Hl liseli eal CA CS VIJAY SARD. 8956651954Il 1 ! ' I 1 [Link]/ [Link] CA CS VIJAY SARDA © 8956651954+ yue Date dato TDS Real yD ‘inde f om due tf bison " payee TDS Certificate Section not applicable Deduct TDS a per Normal Rates in Following cases [Link]/-TCS in hat year 1s 50000 or more ‘Sec 194N Cash Withdeawe 2) Theamount of refund due ifany shall be granted tothe deductor. to pay a sum of Rs 200 for every day. ig 2 wind his return of income under section 138; such Roy, 8? #<0unt sch sum for computing income in Mite Org tt onthe income declared by him in sich eh Peon fishes ertieate to thi ef fom late deduction of Late payment of Pay simple intrest @ 195 for every ‘on the amount Ber on Ament Pay Simpl Interest @ 1.5% fr every imag ft fs month onthe amount where an ode DeleeYth AseingOficer fr the dtl for non tate or shor deduction the interes shal be pad 7h Peon in accordance with ich ode 956651954 CA CS VIJAY SARDAaU ke OS ROTO Paper [Dalacer] [Any eee Payer Dedcee| Reslent Aes mt ae | | timeot Dedacion 2 in cae of pee engaged bane of ‘opertion ofall centre CHDT TON p BreWSiULS Inese TOS required oe dalcied wi DDO Deduction shoud ot xed eat fr st moth T/MTUE - IFT of Busines in PPY exceed rand cept fom Profession exceed SOL Broa ‘and payment in PY exced Presi Limit (Others: ILiit Exceed Preseli CTU Recker R NEAL ‘Any person eesden in India [ndvidual or « HUF (other than those who ae PayeeDedacte Timi rine of Deduction Payer [Deductor] |requived to deduct ncometaxas per the Provisions of sec 14C, sc 14H / sec 194) PayeeiDeduciee| Any person [Resident] Limit [seeed€ SOL duringa FY Tae s Special Pais [> Sum redied or paid vo resident daring any | Provision of sec 203A shall no apply toa person required o deduct toxas per Provisions ofthis ec. CA CS VIJAY SARDA (8956651954 [Link]/ [Link]motets Sen NOTDS wr ul edge money changer eed by BI and ‘sands spn provgethey ty ter | [mt non [cairo eee CA CS VIJAY SARD. 8956651954BRUNE isan NaC rea Wesuets ement Incase ofl Quarter, ner orm ll bape ‘AdranceTax sperm fotorShort |X orpart of ‘Onorbefore Companies & Other asessce Totes ian 15% of Ade Taxa FTAX PAYABLE: |Add: Surcharge INET TAX PAYABLE: CA CS VIJAY SARDA (9) 8956651954let ays eae orth UNIOFINCOME ed es a any wrong: ‘rit revised retum s une st ae ae dal ‘Ay 38 Decemb cae eon et eae ee 3 Bele the compl cher eer On he Aseing ocr may mime the defect to im an cppotaity to rectly the defect wth retun iva ce Rs 100 for every dy. applicable in Addition to Sec 2728 the due date in. Al of te above which are approved w/s35- ROI is MANDATORY hc eo REIT /INVIT - ROI is MANDATORY CA CS VIJAY SARDA @ 8956651954 [Link]/ [Link] 36# CALCULATION OF T. ‘Where averse as no frnished return earl “The tax payable afte Reducing: siAdvance Tax aleady paid); Such updated return shall aso be accompanied by proof of payment u/s 23F ec has furnished return earlier 1d be computed after taking nto Amount of Tax paid Earlier i TDS/TCS. vr shall be accompanied by proof of > The updated rt aitional Tax interes and fe, Computation of additional Tax. ‘Additional tax payable shall be: firupdated return i furnished fxpiy of ime avalable ws lout before completion of 12 months fromm the end ofthe RAY [25 %6 of aggregate of nx (+Sr418C)ana| ik payment of Tay Pay 2 2- 9095 als ack of oy [competion of24 months fom the fend ofthe relevant AY Fepanat erat rated oer OS Kensie em eaicbuter fixascreang||. 00 oF 1-5-2025 1, SOK eh ov nt seme to 51-G-% | | ome is pending or has ben formation in respect possesion under Josed foreign income & Assets) & s been received under DTAA and the same has ated to im, prior to the date offing of return ted forthe relevant AY in cespect of sich person, 10 He sa person of belongs toa class of persons, a may be notified by the Board in this regard CA CS VIJAY SARD. 8956651954 [Link]/ [Link] Pg 37