personal tax
                     Personal tax 
Personal tax isn’t just about 
numbers. It’s about clarity, control, 
and financial confidence. 
Index
1. What is Personal tax? 
2. Key Deadlines 
3. Old and new tax regimes 
4. Advance tax 
5. Head of income 
6. Tax planning 
7. Personal tax litigation 
8. About Mercurius 
9. How Mercurius Can Help You
What is Personal tax?
•Personal tax is what you pay on income you earn and returns from investments (like 
salary, business profits, rent, or stock gains).
•It helps fund public services and is based on what you earn.
Understanding tax gives you more control over your money and keeps you legally 
compliant. Taxes don’t have to be overwhelming — we make it clear, simple, and 
personalized for you. Whether you're planning, investing, or prepping for tax season, 
we’ve got your back. With the right support, tax time becomes a chance to make 
smart financial moves.
Key Deadlines for Personal Tax Filing 
•Tax Return Deadline: July 31 for income earned between April 1 and March 31.
•Taxpayers covered under tax audit (other than transfer pricing cases): 31st 
October 2024
•Taxpayers covered under transfer pricing: 30th November 2024
•Due date for revised return/belated return of income: 31st December 2024
Missing this deadlines can lead to late fees, interest, and 
stress.
Old and New Tax Regime  
Old Tax Regime New Tax Regime 
INCOME SLAB          TAX RATE  INCOME SLAB                TAX RATE 
Up to Rs. Nil ₹ 0 – 4 Lakh Nil
2,50,000
 ₹ 4 – 8 Lakh 5%
Rs. 2,50,001 to 
Rs. 5,00,000 5% ₹ 8 – 12 Lakh 10%
₹ 12 – 16 Lakh 15%
Rs. 5,00,001 to 
Rs. 10,00,000 20% ₹ 16 – 20 Lakh 20%
₹ 20 – 24 Lakh 25%
Above Rs. 30%
10,00,000 Above ₹ 24 Lakh 30%
Advance Tax 
Advance tax means paying your taxes in parts during the year instead of all at once. 
It makes things easier and helps you stay on track. 
 Applicability Advance tax applies to anyone—individuals, HUFs, salaried, self-employed, or 
businesses—whose tax due after TDS is over ₹10,000 in a year.
 Due Dates Advance tax is paid in four installments from April to March, with set due dates
—missing them can lead to interest and penalties.
 Calculation Professional tax help ensures accurate income estimation and timely advance 
tax payments as per the scheduled installments.
 Instalments  Advance tax is paid in four parts—15% by June 15, 45% by Sept 15, 75% by 
Dec 15, and 100% by Mar 15, adjusting previous payments.
  Payment Modes Advance tax can be paid online via net banking, debit cards, or at banks
—with expert help available for smooth payments.
  Penalties Missing or underpaying advance tax can lead to interest under Sections 234B 
and 234C of the Income Tax Act.
                                                                         
Head of Income  
The Income Tax Act, 1961, classifies income under five 
heads:
Income from Salary
Income from House Property
Income from Profits and Gains of Business or Profession
Income from Capital Gains
Income from Other Sources
Taxpayers must identify the correct category for their 
earnings to ensure compliance with tax laws and maximize 
available tax benefits. Proper documentation, timely filing 
of returns, and awareness of exemptions help optimize tax 
liability. 
Tax Planning 
Tax Planning involves strategic management of finances to minimize tax liability legally, 
using available exemptions, deductions, rebates, and benefits under the Income-tax 
Act, 1961.
WLehgya l ims iTnaimxi zPelsa tnanxeins g ImpoIrmtapnrotv?es savings and cash Minimizes audit risks and 
flow penalties 
 Legally minimizes taxes                  
Improves financial decision-
                          E  n  s  u  r e  s    c o  m   p  l i a nce making 
Do you want to save effectively and avoid stress? So you can concentrate on what you 
do best - let us plan your taxes. 
Expert advice. Maximum benefits. Zero hassle.
Tax Disputes & Litigation
Dealing with tax disputes can be challenging, especially when it involves complex laws and 
detailed assessments. As experienced income tax consultants based in India, we specialize in 
helping individuals and businesses handle audits, assessments, and appeals with confidence.
Our team keeps you informed about potential tax risks and areas where disagreements 
commonly arise —interpreting specific tax provisions, dealing with transfer pricing issues, or 
navigating international tax matters. With expert guidance, you’ll be better prepared to respond 
to disputes proactively, minimize liabilities, and safeguard your financial interests every step of 
the way.
About Mercurius
Mercurius is a broad-based professional services firm with clientele in 60+ 
countries. It assists foreign companies with the easy set-up and functioning of their 
businesses in India. 
With a thorough knowledge of Indian regulatory structures as well as international 
expectations, we specialize in:
• Company incorporation and structuring
• Regulatory and tax compliance
• Nominee directors and local representation solutions
• Ongoing advisory and post-incorporation support 
We are trusted for our reliability, confidentiality and dedication to simplifying entry 
into India.
How Can Mercurius Help You?
01 02 03 04
Unmatched 
Tailored 15+ yrs Cross Client Cost 
Approach Border Support Effectiveness Experience
Thank You
Mercuriusteam.com
[email protected]
m
+91 96677 79615