New Tax Exemption U/s 80EEA on Loan for Purchase of Affordable House With Automated Income Tax Software All in One TDS on Salary for Govt & Non-Govt Employees for F.Y.2019-20

Another New Section 80EEA has been presented in the Budget 2019 (July) which would give extra duty exception on advances taken for a buy of affordable house. We give you the subtleties of the equivalent in the post.

80EEA – Eligibility and different Details

You would be qualified for the advantage u/s 80EEA in the event that you fulfill the following conditions:

1.         The home credit is taken from affirmed money related organizations between April 1, 2019, to March 31, 2020

2.         The Cost of the house is not as much as Rs 45 Lakhs

3.         The purchaser ought not to have some other house in his name at the season of advance assent

All out derivation on enthusiasm on lodging credit would be Rs 3.5 lakh (2 lakh u/s 24 and 1.5 lakh u/s 80EEA)

Moderate Housing

The government characterizes moderate lodging as:

•           Houses with territory under 60 sq. Mt. in metropolitan urban communities of Bengaluru, Chennai, Delhi National Capital Region (constrained to Delhi, Noida, Greater Noida, Ghaziabad, Gurgaon, Faridabad), Hyderabad, Kolkata and Mumbai (entire of Mumbai Metropolitan Region)

•           Houses with territory under 90 sq. Mt. in all urban communities other than metropolitan urban communities

•           The stamp estimation of the house ought to be not as much as Rs 45 Lakhs

The amount Additional Tax you spare?

We take a case which can disclose to you how much extra expense you would spare with the new section.

•           Property Purchase Value = Rs 45 Lakhs

•           Loan (80% to 85% of Property estimation) = Rs 36 to 38 Lakhs

•           For our computation, we would take a higher estimation of Rs 38 lakhs

•           Interest Rate = 9%

•           Loan Tenure = 15 years

•           EMI = Rs 38,542TAG:-  Budget 2019, Exemption from Home Loan Interest, Income tax Exemption on H.B Loan Interest U/s 80EEA,

Download Automated All in One TDS on Salary for The Govt & Non-Govt Employees for the Financial Year 2019-2020 and Assessment Year 20120-2021 With New Format of Form 16 Part B.

The feature of this Excel Utility is the following:-

1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 2019

2) The Salary Structure as per the  All Govt & Non-Govt employees Salary Pattern

3) Automated Individually Salary Sheet for each Employee

4) Automated Income Tax Salary Sheet for each Employee 

5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)

6) Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y. 2019-20

7) Automated Income Tax Form 16 Part A&B for F.Y. 2019-20

8) Automated Income Tax Form 16 Part B for the F.Y. 2019-20 

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