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…
Tag: Automatic Income Tax Calculator all in One for the W.B.Govt employees for F.Y.2021-22
Income Tax Deduction U/s 80 | Includes Automatic Income Tax Preparation Software all in one for Govt and Non-Govt Employees in Excel for F.Y.2021-22
Income Tax Deduction U/s 80 |Section 80 deduction for the fiscal year 2020-21, A.Y 2021-22 (with budget 2021 amendment) The Income Tax Department has made various deductions from taxable income under Chapter VI A deduction to encourage savings and investment among the taxpayers. As 80C is the most famous, there are other deductions that help taxpayers reduce their tax liability. Let’s understand these deductions in detail: Section 80C – Deduction on investment Section 80C is one of the most popular and preferred categories among taxpayers because it allows them to…
Deduction U/s Section 80: Income tax exemption With Automatic Income Tax Preparation Software All in One for the West Bengal State Employees for the F.Y.2021-22
Deduction U/s Section 80: Income tax exemption. It sounds a lot more complicated, but it doesn’t have to be. Therefore, The government has offered many exemptions under various sections of the Income Tax Act which you can take for your benefit. But to do that, you need to understand what multiple sections of the Income Tax Act offers. One of these is section 80 of the Income-tax Act, 1961 The exemption U/s 80 includes so many options like deposited, premium payable, loan repayment etc. These options can significantly reduce your tax…