Areti Charidemou & Associates LLC’s Post

Extension of Due Date for Belated and Revised Income Tax Returns for Assessment Year 2024-25: A Crucial Update for Taxpayers. CBDT has announced an important extension for the filing of belated and revised income tax returns for the Assessment Year 2024-25. In a significant development, the last date for furnishing these returns for resident individuals has been extended from December 31, 2024, to January 15, 2025.

Income Tax Bill postponed till next week. A new income tax bill is set to be introduced next week, adopting a "trust first, scrutinize later" approach. #budget #tax #pm #unionbudget #2025

Income Tax Return (ITR) - July 31 is the last day for individuals to file their ITR for FY2023-24. The Income Tax Department has not yet extended the deadline for filing income tax returns for the Assessment Year 2024-25 or the financial year 2023-24. As of now, the last date to file ITR is July 31. 

Provisional tax isn't a separate tax – it's a strategic method of prepaying your annual tax liability. If you earn income beyond standard PAYE deductions, you'll need to make two estimated tax payments, with the addition of an optional third payment. If you’re a provisional taxpayer, here are the upcoming dates to diarise for the 2024/2025 tax years: Income tax return (2024) 23.01.25 1st Provisional tax return 30.08.24 2nd Provisional tax return 28.02.25 Top-up payment (Optional) 30.09.25 Income tax return (2025) 23.01.26 Need help with your business and provisional tax? Contact Counteractive today. https://buff.ly/3tYlRvZ #Accounting #Accountant #AccountingProfession #AccountingFirms #AccountingProfessional #FinancialPlan #BusinessPlan #Business #Counteractive

Short and sweet summary of the impact of the Autumn Budget on tax below ⬇️

Stay ahead of the game! Key Income tax due dates: Individuals/AOP - September 30, 2024, Companies - December 31, 2024, Special Tax Year Companies - September 30, 2024. Let TaxAid help you file on time and with ease!

What are the tax implications of the Autumn Budget 2024? Yesterday's announcement saw history being made as Rachel Reeves, who became the first female to hold the office of Chancellor, set out arguably the biggest tax changes for a generation. Private wealth, property tax and corporate tax experts, Camilla J., Jessica Apps, John Shallcross and Robert Thomas examine all you need to know from a tax perspective. They neatly summarise the Budget here: https://lnkd.in/eXVRM4H2 Or for a more in-depth view on Inheritance Tax, Capital Gains Tax, and Stamp Duty Land Tax, you can read their longer article here: https://lnkd.in/e8k3wkbW #AutumnBudget2024 #TaxPlanning #InheritanceTax #CapitalGainsTax #StampDutyLandTax

A helpful summary of the impending tax implications of yesterday' budget.

The new Income Tax Bill is unlikely to be presented in Budget 2025 due to an ongoing review of the Income-Tax Act. A committee is reviewing the act to simplify it and make it more user-friendly. The committee's report is expected by February 2025, after which the bill will go through further legal and parliamentary processes. This means the new Income Tax Bill will likely be delayed. #dtc #incometax #budget2025 #tax #updates.

If you pay tax through PAYE, you may be able to pay any tax that you owe under Self Assessment via an adjustment to your tax code if you file your tax return by the earlier date of 30 December. Read this article (https://buff.ly/4fwKZAa) to find out if you qualify. #SA #taxcodeadjustment #taxtip