Utilities

A collection of useful resources and information to help you stay informed.

Cost Inflation Index (CII)

The CII is used for calculating long-term capital gains tax and helps in adjusting the purchase price of assets for inflation.

  • FY 2023-24 (AY 2024-25): Notified as 348.
  • FY 2024-25 (AY 2025-26): Set at 363.

ROC Fee Structure

The ROC fee structure varies based on the nominal share capital of the company:

  • Less than Rs. 100,000: Rs. 200 per document.
  • Rs. 100,000 to less than Rs. 500,000: Rs. 300 per document.

Recent amendments have increased additional fees for delayed filings to 18 times the standard rates. For specific calculations, visit the MCA website.

Rate of Income Tax (FY 2023-24)

New Tax Regime:

  • Up to Rs. 3,00,000: 0%
  • Rs. 3,00,001 to Rs. 7,00,000: 5%
  • Rs. 7,00,001 to Rs. 10,00,000: 10%

Old Tax Regime:

  • Up to Rs. 2,50,000: Nil
  • Rs. 2,50,000 to Rs. 5,00,000: 5%
  • Rs. 5,00,000 to Rs. 10,00,000: 20%

Rates of TDS (FY 2023-24)

TDS rates vary depending on the nature of the payment. Key rates include:

  • Section 194-I (Rent - Land & Building/Furniture): 10%
  • Section 194-I (Rent - Plant & Machinery): 2%
  • Section 194-IB: Rent by Individuals/HUF (specific conditions apply).

LLP Compliances & Penalties

Key annual compliance for LLPs includes filing of LLP Agreement (e-Form 3), opening a bank account, and filing Form 11.

Penalties for non-compliance:

  • ₹5,000 if filed after the due date but before 31st December.
  • ₹10,000 if filed after 31st December.
  • General penalties can range from ₹5,000 to ₹5 lakhs.

Depreciation Chart (Companies Act, 2013)

Schedule II of the Companies Act, 2013 specifies depreciation based on the useful life of assets.

  • Building (Other than Factory): 5% (60 years useful life).
  • Residual value should generally not exceed 5% of the original cost of the asset.

Depreciation Chart (Income Tax Act)

Under Section 32 of the Income Tax Act, rates are applied on the Written Down Value (WDV):

  • Buildings: 10%
  • Furniture: 10%
  • Plant & Machinery: 15%
  • Intangible Assets: 25%

Special Provision: If an asset is used for less than 180 days in a year, only 50% of the normal depreciation is allowed.