Category: Automated Income Tax Form 16 Part B

Four Critical Changes in Income Tax Act: Standard Deduction, UPS, Income Tax Search, and Other Changes to be Applicable in FY 2025-26

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Clarification of Income Tax New Regime as per Budget 2025 with Automatic Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from FY 2000-01 to FY 2025-26

Introduction The Public Investment Fund (PIF) and its wholly owned subsidiaries, moreover, will now be explicitly named in the exemption section, thereby ensuring legal certainty and simultaneously encouraging long-term global investment. Consequently, this clarification not only boosts investor confidence but also guarantees smoother regulatory interpretation for future projects. Impact As a result, this reform will significantly increase foreign capital inflows, while it will also strengthen India’s infrastructure. Furthermore, it will align seamlessly with the government’s ambitious “Make in India” initiative as well as its “Viksit Bharat 2047” vision, thereby reinforcing…

Old Regime vs New Regime 2025: Which Tax Regime is Better for You?

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Four Critical Changes in Income Tax Act: Standard Deduction, UPS, Income Tax Search, and Other Changes to be Applicable in FY 2025-26

Introduction The Union Budget 2025 completely reshaped India’s personal income tax landscape. Naturally, taxpayers across the country are wondering: “Should I continue with the old tax regime or switch to the new one?”   This question is more important than ever because both the Old and New Tax Regimes offer distinct advantages. Choosing wisely can help you save thousands in taxes and simplify your financial life.   In this comprehensive guide, you’ll discover the latest tax slab rates, key benefits, and expert comparisons between the Old Regime vs New Regime…

Section 115BAC of the Income Tax Act Introduces a Simplified Tax Regime for FY 2025-26| With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the FY 2025-26

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Form 10E

Section 115BAC of the Income Tax Act introduces an alternative, simplified “new tax regime“ for individuals, Hindu Undivided Families (HUFs), and other specified entities. This regime offers lower income tax rates across different income slabs in exchange for foregoing most of the common exemptions and deductions available under the traditional “old tax regime”.  Key Features of Section 115BAC Applicability: It applies to individuals, HUFs, Association of Persons (AOPs), Body of Individuals (BOIs), and Artificial Juridical Persons (AJPs). Default Regime: From the Financial Year 2023-24 (Assessment Year 2024-25) onwards, the new tax regime is the…

Salary Arrears Relief Calculator U/s 89(1) with Form 10E from the FY 2000-01 to FY 2025-26

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Form 10E

Have you ever received your salary arrears and felt confused about the high tax deduction? You’re not alone! Many salaried employees face this issue every year when arrears are paid for previous financial years. Thankfully, the Income Tax Act’s Section 89(1) provides a simple solution — and with Form 10E, you can claim tax relief smartly and legally. Think of it as a “time machine for taxes” — you can adjust the extra tax you pay today for income that belonged to the past. Let’s dive deep into understanding how…

Why Choose the New Tax Regime as per Budget 2025 with Automated Income Tax Preparation Software All in One in Excel for the Non-Government Employees FY2025-26

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The Union Budget 2025 introduced significant reforms to simplify the Indian taxation system, particularly through the New Tax Regime. For non-government employees, this new structure offers a straightforward and transparent approach to managing taxes. When combined with an Automated Income Tax Preparation Software All-in-One in Excel, the benefits multiply, saving both time and money. Let’s explore why choosing the New Tax Regime for FY 2025-26 is a smart decision and how automation enhances your tax management experience. Understanding the New Tax Regime for FY 2025–26 The Government introduced the New…

Know your Tax Burden in the Old and New Tax Regime for the F.Y.2025-26 with Tax Calculator in Excel

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Section 80D

For the Financial Year (FY) 2025-26, the tax rules have significantly changed, making the new tax regime the default option. To determine your tax burden, you can use or download Excel-based calculators from the link below.  Here is a breakdown of the two tax regimes for F.Y. 2025–26, which you will need to input into a calculator to compare your burden.  Tax slabs for F.Y. 2025–26 Income Range  New Tax Regime (Default) Old Tax Regime (Optional) Up to ₹2.5 lakh Nil Nil (for individuals below 60) Up to ₹3 lakh…

Rebate U/s 115BAC for FY 2025-26 as per Budget 2025 with Automatic Income Tax Form 10E

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The Rebate U/s 115BAC for FY 2025-26 under the New Tax Regime introduces a simpler, fairer, and more transparent way of calculating taxes. As per Budget 2025, the new regime continues as the default option for all individuals and HUFs. However, if you receive arrears or advance salary, you must manually file Form 10E online to claim relief under Section 89(1). To help you understand how the system works, let’s explore the new provisions, tax rates, filing process, and how the Automatic Income Tax Arrears Relief Calculator U/s 89(1) with…

Clarification of Income Tax New Regime as per Budget 2025 with Automatic Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from FY 2000-01 to FY 2025-26

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Clarification of Income Tax New Regime as per Budget 2025 with Automatic Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from FY 2000-01 to FY 2025-26

The Union Budget 2025 reshaped India’s tax landscape by refining the New Tax Regime—now the default tax structure for FY 2025-26 (AY 2026-27). This move aims to simplify tax compliance and offer significant relief to middle-class taxpayers. While the Old Tax Regime remains available, you must actively opt for it when filing your Income Tax Return (ITR). Therefore, Understanding the New Tax Regime: A Complete Guide for FY 2025-26 Have you ever wondered why everyone’s talking about the New Tax Regime lately? Well, it’s because this new system completely transforms…

How to detect the best Tax Regime Old or New for the F.Y.2025-26 with Tax Calculator All in One in Excel for the F.Y.2025-26

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How many amount rebate in income tax U/s 16(ia) for F.Y.2025-26 with automated Income Tax Software All in One for the Govt and Non-Govt Employees for FY2025-26

To determine the best tax regime for the Financial Year (FY) 2025-26, you will need to perform a comparative calculation using your specific income and eligible deductions . Many financial websites, including the Income Tax, like https://www.pranabbanerjee.com or www.caclubindia.com or www.apnataxplan.in or www.itaxsoftware.net, offer calculators to simplify this process. The best regime for you depends entirely on your personal financial situation, especially the number of deductions you can claim. Key differences between old and new tax regimes (FY 2025–26) Feature Old Tax Regime (Optional) New Tax Regime (Default) Deductions &…

Which Tax Regime Is Better for the Middle Class in FY 2025–26: Old or New?

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80c

Introduction The Budget 2025 has once again stirred the age-old debate—Old Tax Regime vs. New Tax Regime. For India’s middle-class taxpayers, this choice is more crucial than ever. Should you stick with the traditional deductions and exemptions under the Old Regime or shift to the simplified, rebate-rich New Regime? Choosing wisely can save you thousands—or even lakhs—in Income Tax. Thanks to Automated Income Tax Calculators in Excel, this decision is now easier and faster. Let’s break it all down step by step, in clear and simple language, so you can…