Gupta G Associates

17/05/2026

ITR 1 for salaried taxpayers and ITR 4 for business owners and professionals are now available. Contact us for filing your returns prior to the deadline to ensure a hassle-free submission.

08/06/2025

Pay your advance taxes now

08/06/2025

Connect us for filing your ITRs

31/10/2024

We expect India to grow between 7% and 7.2% in fiscal 2024 to 2025 in our baseline scenario, followed by between 6.5% and 6.8% in fiscal 2025 to 2026 (admittedly,
slightly lower than previously estimated)

https://www2.deloitte.com/us/en/insights/economy/asia-pacific/india-economic-outlook.html

01/01/2024

18/04/2023

HAPPY NEW FINANCIAL YEAR 2023–24 !

We Gupta G Associates wish to inform you that Government of India has announced a few tax changes for salaried employee in the Finance Act, 2023.

A. There are two tax options available for salaried employees i.e. New Tax Regime and Old Tax Regime.

B. There are no changes in case of Old Tax Regime compared to last year.

C. The changes for New Tax Regime are:

Section 87A rebate has been enhanced to taxable salary of ₹700,000 from ₹500,000. This means upto taxable salary of ₹700,000, there is no tax. Also, marginal relief is available between ₹700,000 and ₹727,778.
Tax rates:
Upto ₹3 Lakh - Nil
₹3 to ₹6 Lakh - 5% on taxable income exceeds ₹3 Lakh
₹6 to ₹9 Lakh - ₹15,000 + 10% of taxable income exceeds ₹6 Lakh
₹9 to ₹12 Lakh - ₹45,000 + 15% of taxable income exceeds ₹9 Lakh
₹12 to ₹15 Lakh - ₹90,000 + 20% of taxable income exceeds ₹12 Lakh
Above ₹15 Lakh - ₹1,50,000 + 30% of taxable income exceeds ₹15 Lakh

Standard deduction up to ₹50,000 is now available under NTR
Surcharge of 37% on taxable salary > ₹5 crore has been abolished. So the maximum Surcharge is 25%.

D. Exemption on Leave Encashment received in final settlement is exempted upto ₹25 Lakh irrespective of any tax regime.

29/03/2023

IT Department has extended the PAN Aadhar 🔗 linking date to 30 June 2023. Please don't get delay now