Don’t take FD of any amount from any bank, take advantage of these rules and know the trick with Automatic Income Tax Software in Excel for the A.Y.2023-24 & A.Y.2024-25

TAX BENEFITS

 Fixed deposit rate – If you are planning to take a fixed deposit ie. FD, you need to know a few things before you invest any money. If you invest in the smart investor’s way, you will not only earn more interest, but you will also get many other benefits. Due to features such as favorable interest rates, low risk of money sinking, and withdrawals whenever you want, fixed deposit is a preferred investment tool by investors. If you invest in FD wisely by understanding the banking rules properly, then not only will you…

Automatic Income Tax Preparation Excel-based All-in-one software for F.Y.2022-23 as per U/s 115 BAC

Automatic Income Tax Preparation Excel-based All-in-one software for F.Y.2022-23 as per U/s 115  BAC Above all,  The financial project is finally here, we have been waiting for this for a long time. On the one hand, we expected some big steps to love the economy and at the same time, we expect a big reduction in the tax rate for individuals. Therefore, If yes, as soon as the finance minister started reading his budget speech in Parliament we all started ringing and in no time the news of personal income tax was all…

Income tax planning and its benefits| With Automatic Income Tax Form 16 Part B for the F.Y.2021-22 as per new and old tax regime

Income tax planning and its benefits | Introduction to Tax Planning is an intellectual process that makes Therefore,  your financial position more tax efficient. This applies to all actions taken by taxpayers to ensure that In other words, their tax liabilities are minimized and all available deductions, credits and exemptions are used and function in a coordinated manner. It is therefore a process that analyzes one’s financial position in terms of tax efficiency. However, As a taxpayer, you can have several sources of income: Household income, Wage, Income from a business or profession, Capital gains…

Deduction under Chapter VI A of the Income Tax Act| With Automatic Income Tax Preparation Software in Excel for the Govt & Non-Govt Employees + Automatic Income Tax Revised Form 16 for the F.Y.2021-22

 Deduction under Chapter VI A of the Income Tax Act| Income Tax Chapter VI A of the Income Tax Act  Therefore, available different subsections of section 80 allow a taxpayer to claim a deduction from total gross income.  Income Tax Chapter VI A of the Income Tax Act bear carry subsections of section 80 which allows a valuer to claim a deduction from total gross income due to various tax savings investments, permitted expenses, donations etc. This deduction allows the assessor for the allowance to substantially reduce the tax due.  In other words, Chapter VI…

Rs.5 (Five) Lack Income tax deduction U/s 87A | With Automatic Income Tax Preparation Software in Excel for the Govt & Non-Govt Employees for the F.Y.2021-22 and Automatic Income Tax Form 16 Part A&B for the F.Y.2021-22

 The government has not changed the basic exemption limit of 2.50 lakhs for a while as the government  does not want people to step out of the tax net and be exempt from filing the ITR. However, at the  same time, successive governments have proposed tax exemptions for taxpayers up to certain income  limits. Tax exemption is currently available for those whose income does not exceed Rs. 5 lakh. This  exemption is available in section 87A. Therefore, Section 87A was introduced into the Finance Act 2003 which was amended from time to time. Currently,…

Download Automated Income Tax Form 16 Part A and B and Part B for F.Y 2021-22

Download Automated Income Tax Form 16 Part A and B and Part B for F.Y 2021-22. Form 16 is one of the most important tax documents for both employees and employers. Therefore, In this guide we have covered every aspect related to Form 16. This Form 16 is divided into two sections-Forms 16 Part A for Employees, Form 16 Part B for Employers What is Form 16?  Form 16 is a certificate issued to employees by their employer when deducting the tax from the employee’s salary. Put simply, it is an acknowledgment that your…

Automated Income Tax Preparation Software in Excel for the All Govt and All Non-Govt Employees for the F.Y.2021-22 with details of deduction under chapter VI A

Automated Income Tax Preparation Software in Excel for the All Govt and All Non-Govt Employees Taxpayers are entitled to get the benefit of tax deduction U/s 80C as per the Income Tax Act for a LIC policy, fixed deposit, superannuation / PF, tuition fee. Taxes are an integral part of our country, accounting for a large portion of the revenue earned by the government, the income that is used to provide certain basic provisions to citizens. According to the existing tax slab, people earning more than a certain amount are expected to…

Do you think Tax Audit threshold limit U/s 44AB for Professionals should be increased from 50 lakh ?- My point of view.

What is Profession ? There is no proper definition of Profession is given under Income Tax Act.According to Sec 2(36) of Income Tax Act, “profession” includes vocation.Sec 44AA  deals with the professions that required to maintain books of accounts are, Legal Medical Architectural Accountancy Technical consultancy Interior decoration Any other profession notified by CBDT Is ‘Income from Salary’ included in ‘Income from Profession’ ? ‘Income from Salary’ is a different income head and it is not included in ‘Income from Business or Profession’. Employee gets Form 16 (Certificate of TDS…

OTP from 17863 – Are you facing this problem ?

Are you getting continuous OTP from 17863 in your mobile. If yes, then you are not alone, many people are facing same problem. As per records on the internet most of them are Vodafone customers. But the most confusing part is when you make complain about this matter to Vodafone, they will tell you that they did not know anything about this number. In this situation you may scared of hacking or any other illegal thing. What kind of sms is coming from 17863 ? ‘Your OTP is 1234. This…

জমির পরিমাপ – পশ্চিমবঙ্গ / Land Measurement – West Bengal

বিঘা, কাঠা, শতক, ছটাক ইত্যাদি জমি পরিমাপের এককগুলির নাম প্রায় সকলেই অল্পবিস্তর শুনেছেন, কিন্তু এক বিঘা বা এক কাঠা জমি বলতে প্রায় কতটা জায়গা বোঝায় সেটা ধারণা করা অনেকের পক্ষেই মুশকিল। কারণ ছোটবেলা থেকে আমরা দৈর্ঘ্য বা প্রস্থ পরিমাপের ক্ষেত্রে মিটার, সেন্টিমিটার, ফুট ইত্যাদি এককগুলোই বেশি ব্যবহার করে আসছি। আর তাই এই এককগুলোর সম্বন্ধে একটা স্পষ্ট ধারণাও রয়েছে, যেমনঃ ১ ফুট বলতেই পড়াশোনার কাজে ব্যবহার করা কাঠের স্কেলের কোথায় আগে মাথায় আসবে। কোনো জায়গার মোট পরিমাপ মানে ক্ষেত্রফল বোঝাতে বর্গফুট বা বর্গমিটার ইত্যাদি এককই বেশি ব্যবহৃত হয়, আর তাই এগুলো…