31 December: Only at some point is left for the yr to finish. After this simply chill…celebration time. But December 31 is not only a day to bid farewell to the previous yr and welcome the brand new yr. There are many issues on this present day, which if you overlook then repenting will show pricey. There are some work deadlines on December 31, 2024, if you overlook them, you will should pay such an enormous worth that you will tremble. Apart from the final day for submitting belated earnings tax returns and closure of particular fastened deposit schemes of many banks, there are lots of different issues that are expiring. If you overlook to do this explicit work even on the final day, you could should pay for it.
Fill ITR with a advantageous of Rs 5,000
If you haven’t filed the earnings return on time, then file the belated earnings tax return with a penalty of Rs 5,000. If you don’t file your earnings tax return inside the remaining interval of at some point, you will not be capable to declare any exemption in earnings tax. Due to this, earnings tax payers will should endure large losses. Because they might should pay heavy taxes. Which can show to be an enormous legal responsibility on them.
This can also be the final day to file annual GST return
This can also be the final day to file the annual GST return for the monetary yr 2023-24, whereas these with annual returns under Rs 2 crore will should file GSTR-9 type. Those who fail to file GST returns on the final day could should pay compensation. Apart from this, you could should face many different losses as a consequence of pointless paperwork.
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