Category: Income Tax Software in Excel

Deduction under Chapter VI-A with Auto Calculate Income Tax Preparation Software All in One in Excel for the Govt and Private Employees for the F.Y.2023-24

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In the realm of income tax regulations in India, Deduction under Chapter VI-A plays a crucial role in determining the deductions available to taxpayers. Therefore, this comprehensive guide delves into the intricacies of Chapter VI-A, helping you navigate through its various sections and maximize your tax benefits. Understanding Chapter VI-A Deductions  Similarly, Chapter VI-A of the Income Tax Act encompasses a range of deductions available to individual taxpayers and Hindu Undivided Families (HUFs). In other words, Deduction under Chapter VI-A is designed to provide relief to taxpayers by reducing their taxable…

Difference between New Tax Regime and Old Tax Regime U/s 115 BAC for the F.Y.2020-21 With Automated Income Tax Revised Form 16 Part A and B for the F.Y.2020-21 and A.Y.2021-22

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When a new tax regime was reported in Money Bill, 2020 people got inquisitive and began calling their specialists to ask what tax  regime they ought to pick and what is the new tax regime and is it for everybody or not.  Essentially the new tax regime should apply for FY 2020-21, however, people couldn’t hold it till next money related year and began posing inquiries and it was difficult to offer some response to each and everybody as this section needs one to concentrate each case independently and ascertain…

New Income Tax Section 115BAC for the F.Y.2020-21 Should you go for the New Or Old? With Automated Income Tax Preparation Excel Based Software for the Govt and Private Employees for the F.Y.2020-21 with New and Old Tax Regime U/s 115 BAC

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From F.Y 2020-21, you can decide to pay income tax under an optional new tax regime. As per Income Tax Section 115 BAC, the new tax regime is allowable for people and HUFs. Poor tax slab has no deductions or exclusions is the key element. Arrangements of the new tax regime are secured under section 115BAC. Download Automated Income Tax Arrears Relief Calculator U/s 89(1) along with Form 10Efrom the Financial Year 2000-01 to Financial Year 2020-21 (Up-to-date Version) What is fundamentally shrouded in this article? What is the NPTR…

Download Automated Income Tax Calculator All in One for the Govt and Private Employees for the F.Y.2020-21 and A.Y.2021-22 as per the Budget 2020 with New and Old Tax Regime U/s 115BAC

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In 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 that…

What is Section 115BAC? Calculate Your Income Tax Labiality As per the new section 115BAC for the F.Y.2020-21 with the Excel Based Tax Calculator All in One for the Govt & Non-Govt Employees for the F.Y.2020-21

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Section115BAC is the newly inserted section in the Income Tax Act, 1961 that deals with the new income tax regime. This section and alternate tax regime was introduced in Union Budget 2020 and are applicable to individuals and Hindu Undivided Families (HUFs) only. A key feature of this new regime is that the income tax slab rates have been significantly reduced. However, the new rates come at the cost of various key income tax exemptions and deductions, which are currently available under the old (existing) income tax regime.  The following…

Automated Income Tax Arrears Relief Calculator From the F.Y.2000-01 to F.Y.2020-21 (Updated) With Major Changes in Income Tax Rules FY 2020-21 (AY 2021-22) & FY 2019-20

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As per the rules, every eligible candidate has to file an income tax return. 2020-21  The income tax rules for the new financial year have undergone some major changes. These changes are being followed from 1 April 2020.   As per the rules, every eligible candidate has to file an income tax return. Through the Union Budget, 2020-21 FM Nirmala Sitharamanhos has made some major changes to the income tax rules. From 1 April 2020, these changes will take effect, From April 1, 2020, FM Nirmal Sitharamanhas introduced a new tax system. Those…

Budget 2020-21: New tax regime for taxpayers, lower rates for people foregoing exemptions With Automated Income Tax Preparation Excel Based Software All in One for Private Employees for the A.Y.2021-22 and F.Y.2020-21

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The new tax changed has reduced the income tax rate for new slabs and individual slabs from separate income to Rs 2,000. If any taxpayer chooses the aforesaid exemption and deductions option, then Rs. 15 lakhs per annum. Finance Minister Nirmala on February 1 with the aim of reducing rates and simplifying the structure Sitharaman announced the new government with personal income tax. The new tax changed has reduced the income tax rate for new slabs and individual slabs from separate income to Rs 2,000. If a taxpayer chooses the…

Automated Income Tax Revised Form 16 Part A&B for the F.Y.2020-21 With Deductions under Chapter VI A of Income Tax Act

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Chapter VI of the Income-tax Act contains various sub-sections of Article 70 which allow an assessor to claim exemption from total income. Section VI of the Income-tax Act contains various sub-sections of section 80 which allow an appraiser to claim exemption from gross total income as a result of various tax-saving investments, approved expenditures, grants, etc. Chapter VI of the Income Tax Act contains the following sections: 80C: Exemption in case of life insurance premium, deferred annuity, the contribution of Provident Fund (PF), subscription of certain equity shares or debentures…

Download Auto Calculate Income Tax for the Govt and Non-Govt Employees for the F.Y 2020-21 and A.Y 2021-22 As per New Tax Section 115BAC ( New & Old Tax Regime)

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The Finance Minister mentioned in his 2020 budget speech that he had simplified the income tax structure. Unfortunately, this is far from the truth. What has happened is that the budget has given you another option to calculate your taxes. More options mean more complexity. We have come up with an income tax calculator that incorporates both existing systems and new tax systems. You can fill in the details and find out which one works best for you.  New Tax Slab  If you want to opt for the new tax regime, you will…

Download Excel Based Income Tax Calculator All in One for Govt & Non-Govt (Private) Employees for the F.Y 2020-21 A.Y 2021-22 U/s 115BAC

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The finance minister mentioned in his 2020 budget speech that he had simplified the income tax structure. Unfortunately, this is far from the truth. What has happened is that the budget has given you another option to calculate your taxes. More options mean more complexity. New Tax Regime U/s 115BAC We have come up with an income tax calculator that incorporates both the existing system and the new tax system. You can fill in the details and find out which one works best for you If you want to choose…