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Regards,
Team FinTaxPro

ITR Filing for Zerodha for AY 2024-25

ITR Filing for Zerodha for AY 2024-25 @zerodhaonline @varsitybyzerodha In this session we will discuss ITR filing of share market transactions through Zerodha for AY 2024-25📞For ITR Filing services call us at 7048930220 or 9718...

🚨 New Tax Regime vs Old Tax Regime 🚨

🔍 CONDITIONS TO BE SATISFIED FOR OPTING NEW TAX REGIME 🔍

Opt for lower tax rates only if you skip claiming these exemptions/deductions:

1️⃣ Leave Travel Concession [Section 10(5)] 🚗
2️⃣ House Rent Allowance [Section 10(13A)] 🏠
3️⃣ Official/Personal Allowances [Section 10(14)] 💼
4️⃣ Allowances to MPs/MLAs [Section 10(17)] 🏛️
5️⃣ Allowances for income of minor [Section 10(32)] 👶 6️⃣ SEZ Units Deduction [Section 10AA] 🌍
7️⃣ Entertainment Allowance [Section 16(ii)] 🎭
8️⃣ Professional Tax [Section 16(iii)] 📑
9️⃣ Interest on housing loan (Self Occupied) [Section 24(b)] 🏡
🔟 Additional Depreciation [Section 32(1)(iia)] 🏭 1️⃣1️⃣ Investment in notified backward areas [Section 32AD] 🏗️
1️⃣2️⃣ Tea, coffee, or rubber business [Section 33AB] ☕
1️⃣3️⃣ Petroleum/natural gas business [Section 33ABA] ⛽
1️⃣4️⃣ Donation to scientific research [Section 35(1)(ii)] 🧪
1️⃣5️⃣ Payment to Indian company for research [Section 35(1)(iia)] 🏢
1️⃣6️⃣ Donation for social/statistical research [Section 35(1)(iii)] 📊
1️⃣7️⃣ Scientific research donation/expenditure [Section 35(2AA)] 🔬
1️⃣8️⃣ Specified business capital expenditure [Section 35AD] ❄️
1️⃣9️⃣ Agriculture extension project [Section 35CCC] 🌾
2️⃣0️⃣ Family Pension [Section 57(iia)] 👪 [AY 2024-25]
2️⃣1️⃣ Contributions under Section 80JJAA, 80CCD(2), 80CCH(2) & 80LA for IFSC units 🏢

🔔 Important Note: Standard deduction is available from AY 2024-25 in the new tax regime!

🧾 Total income is computed after claiming depreciation (excluding additional depreciation) & without adjusting brought forward losses/depreciation from previous years.

🏠 Loss under house property can’t be set off against other income heads. Such losses & depreciation will not be carried forward.

📢 Webinar Alert! 📢

Get ready for a FREE Live Webinar on ITR Filing in case of Intraday and F&O Loss for AY 2024-25!

📅 Date: Today, Saturday, 1 June 2024
🕗 Time: 8 PM (1 hour)
📍 Link - https://youtu.be/3loQASxiYzQ
🎤 Speaker: Vivek Awasthi, Founder of FintaxPro

Topics Covered:
1. Zerodha PnL Analysis
2. Tax Audit applicability in case of F&O loss
3. Set off and carry forward of losses in income tax
4. Income Tax computation for F&O Loss
5. PnL Account for F&O Loss
6. Balance sheet for F&O Loss
7. Computation of Total Income
8. ITR Filing for AY 2024-25 F&O Loss

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See you there! 🚀