Income Tax Allowances and Deductions Allowed to Salaried Individuals With Automated Income Tax Preparation Excel Based Software All in One for the Govt & Private Employees for F.Y.2020-21 as per New and Old Tax Regime.

Salaried representatives form the major piece of the overall taxpayers in the nation and the commitment they make to the tax assortment is very significant. Annual tax deductions offer a … Read More

Deduction U/s 16 with Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2020-21

The income chargeable under the head “Salaries” is registered after making the following deductions under Section 16: 1.         Standard Deduction; 2.         Entertainment Allowance Deduction; and 3.         Professional Tax. 1. Standard … Read More

How to Fix On Salary and New Tax Slabs U/s 115 BAC? Described of the Income Tax Department + Automated Tax Software All in One for Govt and Private Employees for the F.Y.2020-21

The new Income Tax slab has come into power in the nation from 1 April 2020. The new tax slab rates have been kept discretionary by the administration. On the … Read More

Old -Vs – New Tax Regime U/s 115 BAC – Which Is Better? With Automated Income Tax Preparation Excel Based Software All in One for the Govt and Private Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC

The exceptions and deductions are not applicable here. This being said, the new tax system has its own benefits and negative marks. The primary valid statement about the new system … Read More

Tax Section 80C – With Automated Income Tax Excel Based Software All in One for the Private Employees for the F.Y.2020-21 as per New Section 115 BAC

Section 80C explained: Did you realize that Section 80C, under the Income Tax Act 1961, encourages you to lessen the tax trouble by allowing a deduction from the total taxable income in a … Read More

How much Tax you should pay as per New Tax System U/s 115 BAC for the F.Y. 2020-21 With the Automated Income Tax Excel Based Software All in one for the F.Y.2020-21

All the taxpayers are known that the New Tax System introduced in Budget 2020  U/s 115 BAC For the F.Y.2020-21. In this The system you can choose your option as Old Tax Slab or New … Read More

Relief under Section 89(1) and Its Importance with Automated Income Tax Arrears Relief Calculator U/s 89(1) from the F.Y.2000-01 to F.Y.2020-21 (Updated Version)

1.         If you have accrued your salary in a financial year however got it in an alternate year, then Section 89(1) allows you to adjust the salary amount. 2.         Filling … Read More

How to Save Income Tax for the F.Y.2020-21 If you choose the Old Tax Regime U/s 115 BAC for F.Y.2020

There is a large group of whole legitimate ways of saving tax under the Income Tax Act, 1961. These include tax-saving mutual assets, NPS, insurance expenses, medical insurance and many … Read More

Deduction in respect of interest on deposits in savings account U/s 80TTA With Automated Income Tax Software All in One for the F.Y.2020-21

Section 80TTA is a deduction available to an Individual and HUF to the maximum of Rs.10,000 /- on the interest income earned from: Saving bank account with a bank From … Read More

Rebate Under Section 87A FY 2020-2021 can get the tax benefits who are opt-in Old Tax Regime U/s 115 BAC With Automated Income Tax Software All in One for F.Y.2020-21

You are eligible to claim tax rebate under this provision if you meet the following conditions: You must be a RESIDENT INDIVIDUAL; and Your Total Income, fewer Deductions, (under Section … Read More

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