Category: Alias Gave Appearances

[ad_1] Section 80E allows deduction in respect of payment of interest on loan taken from any financial institution or any approved charitable institution for higher education for the purpose of pursuing his higher education or for the purpose of higher education of his spouse or his children or the student for whom he is the legal guardian. The deduction shall be allowed in computing the total income for the Financial year in which the employee starts paying the interest on the loan taken and immediately succeeding seven Financial years or…

[ad_1] While the estimated growth has been slashed to 5%, the possibilities of reduction in the policy interest rate are also receding. This may dampen the hopes of increase in investment, housing and consumer demand. Budget2020-21 will be presented in Parliament by Finance Minister Nirmala Sitharaman on Saturday. This budget is supposed to be one of the toughest in recent times. Recently, former finance secretary Subhash Garg wrote a blog, saying the actual fiscal deficit for 2019-20 will be 4.7 percent compared to 3.4 percent of GDP, as given in…

[ad_1] When it comes to saving taxes, the Public Provident Fund (PPF) is one product a lot of people turn to There are two reasons for this: its tax-free yearly interest and the annual compounding. Since the PPF has a long tenure of 15 years, the impact of compounding is huge, especially in the later years. Further, because the interest earned is backed by sovereign guarantee, it makes it a safe investment. Therefore, linking one’s investment in PPF to a long term goal such as retirement helps. Here’s how to…

[ad_1] 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 it will suspend all tourist visas in a sweeping attempt to prevent the spread of corona virus as cases across India continued to rise. “All existing visas, except diplomatic, official, U.N./international organizations, employment, project visas, stand suspended till 15th April 2020,” the health ministry said in a…

[ad_1] 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 medical expenditure incurred for this purpose. Though the working of these two deductions is same, according to income tax rules, these cannot be claimed simultaneously. Section 80DD and Section 80U of the Income Tax Act allows deduction for the medical expenses incurred for differently abled persons. The…

[ad_1] google-site-verification: googlecf757d27cbdf8063.html Automated New Revised Pension Form Single Comprehensive Form with all related papers for West Bengal Govt Employees as per Finance Notification No.416-F Dated 09/08/2019 – itaxsoftware.net As per the West Bengal Finance Department has changed the Pension Form Single Comprehensive Form in a new modified format vide Notification No. 416-F, Dated 09/08/2019.Some of the particulars added in this New Form, which will be more transparent. And also this Format will be required after 01/01/2016 as per the New 6th Pay Commission ( As per ROPA 2019)  Download…

[ad_1] The Central Board of Direct Taxes (CBDT) have introduced a new Format for Form 16 and Form 24Q, which are referred as salary TDS certificate. From the looks of the new Forms it can be said that, claims under various sections have been enhanced and cumulative. Also,  new columns and sections have been added in Form 16. New column is made for senior citizens and various allowances have been modified in Form 24Q. These two Forms are prepared by your employer, and include details of your salary and investments.…

[ad_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. Just install this add-in and you can easily convert numbers to words in several popular currencies using relevant type of function INWORD. Unlike a painful process of pasting macros to do this job every time you open a new Excel workbook, once this add-in is installed on the computer user will never have to worry about the tedious coding job. Have a glance yourself what I…

[ad_1] The amended form will come into effect from May 12, 2019. In other words,This means the income tax returns for financial year 2018-19 will have to be filed on the basis of revised Form 16 However,The Income Tax department has revised Form 16 by adding various details, including income from house property and remuneration received from other employers, thereby making it more comprehensive to help check tax avoidance. The amended form will come into effect from May 12, 2019. For instance, This means the income tax returns for financial…

[ad_1] The CBDT or Central Board of Direct Taxes has notified a new format for Form 16. This requires the break up of the Tax-Exempt Allowances paid to the employee and also of all tax breaks claimed by them. In the previous format allowed the companies to give consolidated figures or break-up in different formats for both, thereby leaving some ambiguity regarding their individual composition. Several changes have been made in the format of the TDS certificate for the Assessment Year 2019-20, the new format of Form 16 will allow the Income Tax…