Income Tax Exemption U/s 80D + 80DD and 80DDB: Income Tax Deduction For Medical Insurance With Automated Income Tax All in One Value of Perquisite in Excel U/s 17(2)

 The Section 80D contains grants a tax deduction on medical insurance charges and medical use. It is granted on the expenses paid for a medical insurance strategy for the taxpayer himself and/or a nearby family member. Section 80D of Income Tax offers a deduction over and above to the deductions under Section 80C of Income Tax Act Deduction under Section 80D •           The maximum permissible deduction is INR 25,000 each financial year on the charge for health insurance for self and family. •           For senior residents, the maximum permissible deduction…

Income Tax Calculation FY 2020-21 – Which Tax Structure to Select? With Automated Income Tax Preparation Excel Based Software All in One for the Non-Govt Employees for F.Y.2020-21

How to do Income Tax Count for FY 2020-21? Which Tax Structure to Choose U/s 115 BAC? According to Financial plan 2020, you can’t claim any tax deduction or exception on the off chance that you intend to pick new tax structure. Along these lines, as an individual tax payer on the off chance that you choose the new tax system with diminishes tax rate you have to swear off all tax breaks available today. Luckily, you have alternative to proceed with old tax structure. Salaried individual can switch among old and new tax…

Download Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10 E from the F.Y.2000-01 to F.Y.2020-21 (Updated Version)

Section 89 comes in picture when salary/annuity or different parts are paid financially past due or advance. As indicated by Section 89, on the off chance that you get salary financially past due or advance in a budgetary year because of which your all-out income for the year expands, which thusly builds your taxable income, you can guarantee for relief under Section 89. You should fill up Form 10E with these subtleties and afterwards submit it to your current manager to guarantee the relief. Structure 10E must be submitted on…

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

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…

Auto Income Tax Preparation Excel Based Software All in One for the West Bengal Government Employees for the F.Y.2020-21 With Exemption for Education Fees Paid U/s 80C – Eligibility

Deduction for Education Fees Paid u/s 80c. Section 80C of personal expense act permits deduction in respect of numerous payments and ventures made. Section 80C permits a deduction for payment of Instruction Fees paid for the Training of Children. Any person who has paid Training Fees for his Children are permitted to guarantee this deduction under Section 80C. As of late, we give Total subtleties to Do NRIs need to record Return of pay in India?. (1) It’s accessible to people as it were (2) Every single other individual with…

Automated Income Tax Arrears Relief Calculator U/s 89(1) With Form 10E For the F.Y.2020-21 ( Amended Version)

Did you get any development salary or arrears of salary? In the event that truly, you may be stressed over the tax ramifications of the equivalent. Do I need to pay taxes on the total amount? Shouldn’t something be said about the tax counts of the earlier year, etc? Taxpayers who have such inquiries in their brain here is all that you have to know   At this point, you would have just made sense of that income tax is calculated on the total income of a taxpayer for a specific year. The…

Download Automated Revised Single Comprehensive Form for the West Bengal Govt Employees after ROPA 2019 with COVIT Impact: Massive Decline in Advance Tax Collections

The deposition of advance taxes seen a reduction to reduce decline resulting in more than 30% reduction in the Gross Tax Collections. The dip shows that the businesses have been impacted very harshly by the coronavirus lockdown.   All the companies and other “big” assesses are required to pay an advance tax to the government. The tax is to be paid in four instalments every quarter. The obligations of the first quarter are to be paid by 15th June. the officials have not made a clear statement on the collections as…

Download Automated Income Tax Preparation Excel Based Software All in One for the Govt and Non-Govt(Private) Employees for the F.Y.2020-21 and A.Y.2021-22 as per new Income Tax Section 115BAC ( New and Old Tax Regime) as per Budget 2020

Budget 2020, brings two tax systems, somehow benefit certain income taxpayers and pull additional taxes on certain taxpayers. The choice is yours from middle-class taxpayers. This Excel-based income tax calculator can be used to calculate income tax on income from salaries, pensions, gifts, fixed deposits, and bank interest and you will get the results according to the result of your tax duty selection. Income Tax 2020-21 Fiscal Year Changes Highlights A new direct tax dispute settlement under FY 2020-21 has been launched under FY20-21. If taxpayers pay by March 31,…

DOWNLOAD AUTOMATED INCOME TAX 89(1) ARREARS RELIEF CALCULATOR WITH FORM 10E FROM THE F.Y.2000-01 TO FY 2020-21

If you have received arrears of salary/pension in the Financial year 2020-21 related to the previous year(s) then your tax liability will be on the higher side due to arrears but do you know that you can bifurcate your income  from arrears in respective years on notional basis and can avail relief u/s 89(1) of Income-tax Act,1961. We have prepared an Automated Excel Based Calculator with Form 10E From the Financial The year 2000-01 to Financial Year 2020-21 ( Update Version) which will be helpful in calculating the relief under…

Major tax Amendments to the Salaried Persons for F.Y. 2020-21 And New Provisions of Finance Act 2020 With Automated Excel Based all in One TDS on Salary for Govt & Non-Govt Employees for F.Y.2020-21 (Old Regime and New Regime)

All Individuals & HUF can prefer to pay tax as per new slab rates without availing exemptions & deductions for the fiscal year 2020-21 and Assessment Year 2021-22 as per the Budget 2020. Option has been given to all or any individuals/HUF to pay tax as per new slab rates (Optional tax regime) on total income computed without claiming any deductions/exemptions – As per Sec 115BAC inserted by Finance Act, 2020 -Applicable from FY 2020-21 (AY 2021-22). Below table summarizes tax rates as per optional tax regime Vs. old rates:…