Date of Furnishing Return -
a) Income Tax Filing
- For individual & firms to be filed income tax on or before 31st July for non audit cases.
- If not filed Income tax within due date: Penalty upto Rs 10000.
- For Tax audit cases, last date of filng income tax is 30th September.
b) Advance Tax to be Paid
On or before 15th June – 15%.
On or before 15th September- 30%.
On or before 15th December – 30%.
On or before 15th March – 25%.
|Section||Nature of Payment||Threshold Rs||Indv/ HUF TDS Rate (%)||Others TDS Rate (%)|
|192||Salaries||N/A||Basic on Slab||N/A|
|192A||Premature withdrawal from EPF||50000||10||N/A|
|193||Interest on Securities||10000||10||10|
|194B||Winning from Lotteries||10000||30||30|
|194C||Contractor- Single Transaction||30000||1||2|
|Contractor-During the F.Y.||30000||1||2|
|194G||Commission – Lottery||15000||5||5|
|194H||Commission / Brokerage||15000||5||5|
|194I||Rent of Land & Building||180000||10||10|
|Rent of Plant/Machinery/Equipment||180000||2||2|
|194IB||Rent by Individual/HUF||50000/PM||5||N/A|
|194J||Professional Fees / Technical Fees||30000||10||10|
|194IA||Transfer of certain Immovable property other than agriculture land||5000000||1||1|
|194L.A||Compensation on the transfer of certain immovable property other than agricultural land||250000||10||10|
At KB & CO, we understand the financial accounting needs of our clients and the importance of maintaining accurate records. We are one of the fastest growing income tax return filing consultants in Bangalore and incorporate the international accounting standards into our work