The individuals can’t switch between old and new income tax regimes every year for the F.Y. 2020-21 as per the Budget 2020
Post Views: 2 Budget 2020 proposes to allow a taxpayer to choose between the existing income tax regime (availing benefits of tax exemptions and deductions) and a new tax regime (lower income tax rates with no tax exemptions and deductions) every year as per their…
Don’t cancel your IRCTC e-ticket! Full & automatic refunds on cancellation of trains to be provided
Post Views: 1 Recently, IRCTC which is the official e-ticketing arm of the national transporter issued a statement saying that passengers have raised their doubts regarding the cancellation of e-tickets subsequent to the halting of passenger train services. Cancellation of IRCTC e-tickets: With the cancellation…
Banks cut branch timings amid total lockdown.
Post Views: 4 Several banks have revised their operating times and suspended non-essential banking services because of the rising novel coronavirus (COVID-19) cases in India. Therefore, Banking services like passbook updates, counter cheque collections have been restricted as the banks promote social distancing. With India under complete…
ITR-GST RETURNS DUE DATE EXTENDED UP TO 30TH JUNE 20 TO THE TAX PAYERS & RELIEF IN TDS INTEREST RATES
Post Views: 1 The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman today announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors. While addressing the press…
5-Step Guide to Help Choose Between Old Vs New Tax Regime as per New system of Income Tax by the Budget 2020
Post Views: 1 While under the old tax regime the salaried individuals can continue paying taxes, as they had been doing till now; under the new regime, they will be liable to pay lower taxes, provided they forego their deductions and exemptions. Budget 2020 has…
Coronavirus: Why next 2 weeks are crucial
Post Views: 2 Dr Trupti Gilada, infectious disease specialist at the Unison Medicare and Research Centre, south Mumbai, spoke to earlier this week. Part 1: ‘We are in for a disaster in 2 weeks if we don’t…’ Part 2: ‘Only get out of home for…
Why is required Income Tax Form No. 16 to the all salaried persons With Automated Income Tax Master of Form 16 Part B in new format for the F.Y. 2019-20
Post Views: 2 Part B is an annexure to Form 16 which incorporates subtleties and section of pay paid, charge due and charge paid. It is a gritty calculation and an efficient record of your assessable pay after permitted reasoning’s and exclusions. Structure 16 Part…
Corona-virus outbreak ,Govt of India suspends all tourist visas until April 15
Post Views: 2 The health ministry said all travelers, including Indians who visited China, Italy, Iran, Republic of Korea, France, Spain and Germany, and arrived in India after February 15 shall be quarantined for a minimum 14-day period. The government said on March 11 that…
Disabled can claim tax saving deductions up to Rs 1.25 lakh under sections 80DD, 80U With Automated Income Tax Revised Form 16 Part A&B and Part B with Form 12 BA for F.Y.2019-20
Post Views: 2 The Income Tax Act allows deductions from your gross total income, before the levy of tax, if medical expenditure has been incurred on the treatment of a differently abled person. Sections 80DD and 80U of the Income Tax Act deals with the…
Convert Numbers to Words/Text in Excel WITHOUT pasting macros again! – INWORD Excel Addin
Post Views: 1 This has been long overdue and I am happy that an Excel add-in that helps convert numbers to words or text is finally here. Therefore, Just install this add-in and you can easily convert numbers to words in several popular currencies using…