Stay Informed About the Latest Tax Rates & Compliance Guidelines
At Satasiya Tax & Revenue, we help individuals, businesses, and organizations stay updated with the latest tax rates, government regulations, and financial compliance requirements.
Below, you'll find a detailed breakdown of GST, Income Tax, Corporate Tax, and Other Essential Tax Guidelines applicable in India.
Income Tax Rates (FY 2024-25)
| Income Slab | New Tax Regime | Old Tax Regime |
|---|---|---|
| Up to ₹2.5 lakh | Nil | Nil |
| ₹2.5 - ₹5 lakh | 5% | 5% (Rebate under 87A) |
| ₹5 - ₹7.5 lakh | 10% | 20% |
| ₹7.5 - ₹10 lakh | 15% | 20% |
| ₹10 - ₹12.5 lakh | 20% | 30% |
| ₹12.5 - ₹15 lakh | 25% | 30% |
| Above ₹15 lakh | 30% | 30% |
GST Compliance Requirements
- ✔ GST Registration: Mandatory for businesses exceeding ₹40 lakh (₹20 lakh for service providers).
- ✔ GST Return Filing: Monthly/quarterly filings as per the GST scheme.
- ✔ E-Invoicing: Required for businesses with annual turnover above ₹5 crore.
- ✔ Input Tax Credit (ITC): Claim tax paid on purchases to reduce GST liability.
Need GST assistance? Contact us for registration, filing, and compliance support!
Additional Information
- ✔ Deductions & Exemptions: Available under the old tax regime (80C, 80D, HRA, etc.).
- ✔ Rebate u/s 87A: No tax payable for incomes up to ₹7 lakh under the new regime.
Confused about which tax regime to choose? Let our experts guide you!
Income Tax Rates (FY 2024-25)
| Income Slab | New Tax Regime | Old Tax Regime |
|---|---|---|
| Up to ₹2.5 lakh | Nil | Nil |
| ₹2.5 - ₹5 lakh | 5% | 5% (Rebate under 87A) |
| ₹5 - ₹7.5 lakh | 10% | 20% |
| ₹7.5 - ₹10 lakh | 15% | 20% |
| ₹10 - ₹12.5 lakh | 20% | 30% |
| ₹12.5 - ₹15 lakh | 25% | 30% |
| Above ₹15 lakh | 30% | 30% |
Corporate Tax Rates
| Type of Company | Tax Rate |
|---|---|
| Domestic Company (Turnover < ₹400 crore) | 25% |
| Foreign Companies | 30% |
| New Manufacturing Company (under Section 115BAB) | 15% |
| Companies under Special Tax Regime | 22% |
| Foreign Companies (Higher Rate) | 40% |
Other Business Taxes
- ✔ Minimum Alternate Tax (MAT): 15% of book profit for companies with tax exemptions.
- ✔ Dividend Distribution Tax (DDT): Abolished, now taxed at the recipient’s end.
- ✔ Startup Tax Benefits: Eligible startups can claim a 3-year tax holiday under Section 80-IAC.
Looking for tax-saving strategies for your business? Let’s plan it together!
TDS Filing Due Dates
- ✔ Quarterly Filings: Required (Forms 24Q, 26Q, 27Q).
- ⚠ Late Filing Penalty: ₹200 per day (Sec 234E).
Need help with TDS compliance? Contact us today!
TDS Rates
| Nature of Payment | Individuals | Companies |
|---|---|---|
| Salary | As per tax slab | As per tax slab |
| Interest on FD | 10% | 10% |
| Rent (above ₹50,000/month) | 5% | 10% |
| Professional/Technical Fees | 10% | 10% |
| Commission/Brokerage | 5% | 5% |
Frequently Asked Questions ( FAQs )
General GST Calculation FAQs
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