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The annual reconciliation of individual income tax (hereinafter referred to as the annual reconciliation of comprehensive income) refers to the process in which the taxpayer summarizes the annual income of the four comprehensive incomes of wages and salaries, labor remuneration, author's remuneration and royalties, subtracts the expenses and deductions for the whole year, and calculates the annual individual income tax payable according to the annual tax rate table of comprehensive income, and then subtracts the tax that has been prepaid in the year, and then handles the annual tax declaration to the tax authorities and settles the tax refundable or paid.
The 2024 individual income tax final settlement schedule is as follows:
1.From March 1 to June 30, 2024, residents need to summarize the four comprehensive incomes obtained from January 1 to December 31, 2023, including wages and salaries, remuneration for labor services, author's remuneration, and royalties, and handle the annual final settlement.
2.If the total annual income of the taxpayer does not exceed 120,000 yuan in the tax year, the taxpayer does not need to apply for the annual reconciliation and can choose to be exempted.
3.If the total annual comprehensive income obtained by the taxpayer in the tax year does not exceed 120,000 yuan, but the withholding tax applicable in the middle of the year is inconsistent with the annual tax payable, the taxpayer can apply for a tax refund.
4.If the total annual income of the taxpayer in the tax year exceeds 120,000 yuan, and the withholding tax applicable in the middle of the year is inconsistent with the annual tax payable, the taxpayer can apply for a tax refund.
5.Taxpayers who need to pay tax but whose annual comprehensive income does not exceed 120,000 yuan can be exempted from final settlement.
6.Taxpayers with preferential individual income tax policies such as the disabled, the elderly, and martyrs can also be exempted from final settlement.
When handling the 2024 individual income tax final settlement, taxpayers need to prepare individual income tax payment records, individual income tax withholding returns, payslips and other materials in order to accurately calculate the tax payable. Taxpayers can also file online declarations, mobile apps, mails, etc., which is convenient and fast. Annual remittance and settlement of individual income tax
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