AKSH Associates Income Tax & GST Consultant

CBDT has decided to extend the due date of filing of ITRs, which are due for filing by 31st July 2025, to 15th September 2025

This extension will provide more time due to significant revisions in ITR forms, system development needs, and TDS credit reflections.

👉 The new tax applies to all social media influencers who earn more than Rs. 2 lakhs per year.

👉 The tax rate is 30% on the gross income of influencers.

👉 Influencers can claim deductions for certain expenses, such as travel, accommodation, and equipment.

👉 The new tax is effective from April 1, 2023.

📃CBIC reduces e-invoicing limit from 10 crore to 5 crore w.e.f. 1st August 2023

➡️ CBIC has reduced the e-invoicing limit to 5 crore from the current limit of 10 crore starting from 1st August 2023.

CBIC TO INTRODUCE MANDATORY QUARTERLY SCRUTINY OF GST RETURNS

For Annual Scrutiny they are yet to develop Portal. Therefore, they came with manual GST Scrutiny for FY 2017-18 & 2018-19 and now they plan to introduce Quarterly.

Income tax slab