Deduction for house rent paid U/s 80GG, the deduction for rent paid under section 80GG. Therefore, Section 80GG rent payment deduction, deduction under section 80GG in relation to rent paid for some In other words, Sections in the income tax law that most people don’t pay much attention to as they are useful in Very few cases. Section 80GG of the IncomeTax Act can be said to be one of these sections. Section 80GG Brief information Deduction of the rent paid for the house and only applicable to those who are self-employed or for whom HRA is…
Category: New Revised Pension Form for W.B.Govt Employees
Exemption under section 87A | With Automatic Income Tax Form 16 Part A and B and Part B which can prepare at a time 50 Employees for F.Y.2021-22
Exemption under section 87A. What is an exemption as well as deduction under Section 87A and who are eligible for it? A person who is a resident of India and whose total income does not exceed Rs. 5.00.000 is entitled to claim an exemption under section 87A after deduction. Therefore, In other words, The exemption under section 87A is available as a tax liability deduction. Exemption under Section 87A 100% Income Tax. if the tax liability exceeds Rs. 5,000, the discount will not be available. However, Download and Prepare At a time 50 Employees Form 16 Part…
Zero Income Tax on Rs 10 lakhs Individual Income- See How? With Automated Income Tax Preparation Software in Excel All in One and Form 16 for the F.Y.2021-22
Zero Income Tax on Rs 10 lakhs Individual Income- See How? It is well known that the income tax on income of Rs. 10 lakh in a personal situation will attract Rs. 1.17.000 / -. But, if you plan well, you don’t have to pay any income tax on your personal income of Rs 10 lakh. Therefore, In order to promote savings and provide tax relief, the government has enacted several exemptions under various chapters for the benefit of individual evaluators. However, the basic exemption limit under the Income Tax Act is only Rs. 2.5 lakh…
Significant changes in income tax for the F.Y.2021-22| With Autofill Income Tax Preparation Software All in One in Excel for the Government and Non-Government Employees for the F.Y.2021-22
Significant changes in income tax which will be effective from 1st April 2021 The new financial year is going to start from 1st April The government has planned some major changes for this financial year (2021). In the 2021 budget, Therefore, Finance Minister Nirmala Sitharaman did not provide any relief to the middle class and paid the class in terms of income tax. But those who are over 65 years of age are exempted from filing income tax returns this time. In other words, Note this, this has been already decided to take major action against…
Income tax deduction for salaried employees| With Automatic Income Tax Preparation Excel Based Software in Excel All in One for the Govt and Non-Govt Employees for F.Y.2021-22
Income tax deduction for salaried employees, When the overall taxpayers in the country are assessed, the salaried individuals make up a significant portion of it. And, their contribution to tax collection is considerable. With this in mind, the rules of the income tax deduction for salaried employees provide various opportunities for tax protection. With these discounts and deductions, you can easily reduce your taxes significantly. Thus, if you are a salaried person, it is very important to know every little detail about the cuts. Let’s learn more about it Standard Income Tax (Deduction & Exemption)…
Download Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2021-22 with details of Section 80TTA of the Income Tax Act
Download Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2021-22 with details of Section 80TTA of the Income Tax Act As per the Income Tax Act Under Section 80TTA provides for an Exemption for interest income from Bank/Post Office. Discounts are available with a few limitations and limitations. In this article, we have covered everything about claiming a tax deduction because of the interest earned Tax exemption on interest income Therefore, the total income of a taxpayer includes any income through interest on the deposit,…
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)
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.
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…
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
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…
The CBDT has issued a notification approving the exemption of Section 115BAC for F.Y 20-21, including automated income tax preparation excel based software for private employees for F.Y.2020-21
CBDT has issued a notice for giving exclusion under section 115 BAC: CBDT has issued a notice No.G.S.R.415E dated.26.06.2020 (Download Notification) for endorsement of certain exceptions under section 115 (14) of the Income-tax Act, 19 61 of. Appraisal of the license to any salaried individual who has picked the alternative under section 115 BAC (5) for refusal of exception. Under the Tax Provision (Revision) Act, 2012, the Income-tax Act, 1991 for lower-obligation options, in accordance with the choices provided to homegrown organizations. So as to exploit the excluded tax framework,…