Shwetanshu Sekhar & Co. Chartered Accountants

22/04/2023

On this , let's embrace the positivity and strive towards new endeavours. Wishing everyone a day filled with joy, happiness, and new beginnings.

01/02/2023

Turnover Limit for Business u/s 44AD Increased from Rs.2 Crore to Rs.3 Crore

Turnover Limit for Professionals u/s 44ADA Increased from Rs.50 Lakh to Rs.75 Lakh

01/02/2023

रेलवे के लिए 2.4 लाख का बजट.

वित्त मंत्री सीतारमण ने कहा कि रेलवे के लिए 2.4 लाख का बजट है. इसमें 75 हजार करोड़ नयी योजनाओं पर खर्च किया जाएगा.

01/02/2023

If you heard the FM carefully,

She said that surcharge rates have been reduced from 37% to 25%

ONLY for the NEW TAX REGIME

37% continues in the old tax regime

Highest Tax Slab:
🔶 Old regime - 42.74%
🔶 New Regime - 39%

01/02/2023

Senior Citizen Savings Schemes (SCSS) limit has been doubled

From ₹15L to ₹30L

Fixed income instruments are preferred by Senior citizens

provides ~8% p.a. interest

01/02/2023

Highest Tax rate is 42.74%

Highest surcharge rate changed from 37% to 25% in the new tax regime

Big relief for the HNIs and motivation for all of us to move to that slab :P

01/02/2023

Avg processing time for ITRs reduced from 93 days to 16 days

This is huge

01/02/2023

New Tax Regime seems to be getting useful

Slabs are:

₹0-3L: 0%
₹3-6L: 5%
₹6-9L: 10%
₹9-12L: 15%
₹12-15₹: 20%
Above ₹15L: 30%

Also, pay no tax if your income is up to ₹7L :)

01/02/2023

Common Question Arising: Can 80C be availed❓

Answer: Yes you can, if you avail the Old Tax Regime.

Q. Should you avail the New Tax Regime?

I'll answer this using case scenarios:
A. With Home Loan
B. Not with Home Loan
C. Rented

15/12/2022

13/12/2022

31 दिसम्बर, 2022 के बाद आप आयकर रिटर्न नहीं भर पाएंगे