Category: Automated Income Tax Form 16 Part B for A.Y. 2020-21

Download and Prepare at a time 50 Employees Form 16 Part A and B in Excel for the F.Y.2023-24

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Form 16

Introduction to Form 16 Form 16 is an essential document issued by employers to their employees. It contains details about the salary earned by an employee and the taxes deducted from it. Understanding and preparing Form 16 correctly is crucial for both employees and employers. What is Form 16? Form 16 is a certificate issued by employers to their employees. It contains details of the salary paid to the employee and the taxes deducted at source (TDS) on behalf of the employee by the employer. Importance of Form 16 for…

Income Tax Calculator All in One in Excel- Simplifying Tax Estimations with Automatic Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25

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Tax Slab for A.Y. 2023-24

In today’s dynamic financial landscape, managing your income tax has become an integral part of responsible financial planning. Calculating your income tax can be quite a daunting task, Therefore, considering the ever-evolving tax regulations and complex formulas involved. To alleviate this challenge, an Income Tax Calculator All in One in Excel emerges as a powerful tool that empowers individuals and businesses alike to accurately estimate their tax liabilities. In other words, In this comprehensive guide, we delve into the features, benefits, and usage of this invaluable tool, aiming to provide you with a detailed understanding of…

Download Income Tax Preparation Software in Excel for F.Y 2023-24 and A.Y 2024-25 with Section 80GG: Deduction on payment of rent.

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80TTA

Download Income Tax Preparation Software in Excel for F.Y 2023-24 and A.Y 2024-25 with Section  80GG: Deduction on payment of rent. Download Automated Income Tax Preparation Excel-Based Software All in One for the Government & Non-Government (Private) Employees for the F.Y.2023-24 and A.Y.2024-25 Features of this Excel Utility:- 1) This Excel utility prepares and calculates your income tax as per the New Section 115 BAC (New and Old Tax Regime) 2) This Excel Utility has an option where you can choose your option as a New or Old Tax Regime 3) This…

Section 80 TTA – Exemption for Savings Interest | With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2022-23(Updated Version)

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Section 80 TTA – Exemption for Savings Interest | 80TTA Complete Guide: Definitions, Limits,  Eligibility, Exceptions for the Fiscal Year 2022-23 (A..Y 2023-24 Therefore, A savings bank account is like a digital piggy bank where interest is earned. Most people have savings bank accounts, but most of them are not aware of the taxation of accrued interest on savings accounts. Interest earned from savings accounts is taxed based on income from other sources and interest deduction u/s 80TTA is also allowed. What is the 80TTA section? In other words, Section 80TTA of the…

Save tax for salaried people Includes automatic income tax preparation software in Excel for government and private employees for F.Y.2021-22

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Save tax for salaried people, Central Budget 2021 results Therefore, Exemption from ITR filing for senior citizens aged 75 years and above, only pension and interest income. B. Therefore, The Income Tax Department has introduced a pre-filled ITR with additional details to facilitate the return filing process. C. In other words, The deadline for submission of delayed and amended returns have been reduced to 3 months. This means that the IT department has to process the returns and send a notice under section 143 (1) by 31st December.  In other words,…

Automatic Income Tax Preparation Software in Excel All in One for the F.Y.2021-22 for the Govt and Non-Govt Employees with details of Tax Section 80 GG

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Automatic Income Tax Preparation Software in Excel All in One for the F.Y.2021-22.It is known that the House Rent Allowances is not treated as the salary income As per the Income Tax Act, For most employees, the house rent allowance (HRA) is part of their salary income. However, some small, and medium-sized companies can pay employees a single amount without any break-up. For a hired employee to claim a deduction, the HRA should be part of his or her salary income. However, In the Income Tax Act, 1961 needed exemption against the rent paid to employees,…

Income Tax deduction for medical treatment U/s Section 80DDB With Automated Income Tax Preparation Software in Excel for the West Bengal Govt Employees for the F.Y.2020-21 ( New and Old Tax Regime U/s 115 BAC)

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Who can Claim Deductions under Section 80DDB? Under Section 80DDB of the tax Act, 1961, taxpayers can claim a deduction for medical treatment of certain specified ailments for self or dependent. this sort of deduction is roofed in Chapter VIA of the tax Act, 1961. The citizen of India can claim deduction under this section. so as words, this suggests that tax deductions are often claimed, as long as the concerned entity has been living within the country for that tax year and therefore the expenses concerning medical treatment are…

When senior citizens are not required to file their ITR? With Automated Income Tax Software All in One for the Andhra Pradesh State Employees for F.Y.2020-21 as per U/s 115 BAC.

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In India, the bulk of Senior Citizen faces financial hardship in adulthood as most of them aren’t during a position to earn their livelihood. Their savings, if any, aren’t enough to satisfy their day to day, particularly the medical expenses. Senior Citizen with good net-worth value is in search of excellent short-term financial getting to earn an honest income from their finance. The tax law provides various benefits to senior citizens in India with the view to mitigating their issues. Who is taken into account an oldster in India? According…

What is the deduction under section 80TTA? With Automated Income Tax Preparation Excel Based Software All in One for the Govt and Non-Govt Employees for the F.Y.2020-21

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It is noted that this Exemption entitled to the taxpayers who are opt-in the Old Tax Regime U/s 115BAC Introduced in Budget 2020 The Unique Section 80TTA provides a deduction of Rs 10,000/- on the interest income from Savings Bank Interest Max Rs. Ten Thousand. This deduction is out there to a private and HUF. This deduction is allowed on interest earned: • From a savings bank account with a bank or Post Office • From a bank/post office account with a co-operative society carrying on the business of banking…

Download Automated Income Tax Calculator All in One for the Bihar State Govt Employees for the F.Y.2020-21 as per the Budget 2020 with New and Old Tax Regime U/s 115BAC

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In the Budget 2020 introduced a new Section 115 BAC for the F.Y.2020-21. This Section 115BAC have an option that you can stay in the Old Tax System along with all the Income Tax Exemptions as per the F.Y.2019-20 and you can Opt-in the New Tax Regime Excluding any Exemptions of Income Tax as the previous F.Y. 2019-20 as clearly mentioned in the Budge 2020 U/s 115BAC. As per the Budget, the New Tax Slab is given below U/s 115BAC which introduced in the Budget 2020. Also, it is clear…