Tax Calculator in Excel for Assessment Year 2024-25. As announced in the Union Budget 2023, the benefit of the standard deduction for taxpayers has been increased in the new regime. Self-employed people, pensioners, and family pensioners can now benefit from standard deductions under the new regime. You may reduce your tax burden to claim deductions Under Section 80C. It allows deductions up to Rs 1.5 lakh for investments in various instruments like Public Provident Fund (PPF), Equity Lied Savings Scheme (ELSS), National Pension System (NPS), Tax-saving Fixed Deposits (FD), and others. Next to the common section…
Tag: Automated Income Tax Form 16 for the A.Y.2022-23
What is salary certificate Form 16? With Automatic Income Tax Form 16 Part B for the F.Y.2021-22
What is salary certificate Form 16? Form 16 is a salary certificate which issued U/s 203 of the Income-tax Act which deducts withholding tax (TDS) from the income from ‘Salary’. It is issued after deduction of tax by the employer from the salary of an employee and submission to the government. The form 16 salary certificate includes a detailed summary of the amount paid or deposited to the employee as well as the TDS. Therefore, The Form 16 issued between one financial year in accordance with the provisions of the Income Tax Act (IT…