Old vs. New Income Tax Slab: Salary Is Best for A.Y.2024-25 and checks your tax liability by this Excel Utility for the F.Y.2023-24 and A.Y.2024-25

TAX BENEFITS

Old vs. New Income Tax Slab – Everyone’s eyes are on the tax slab and the budget. Currently, there are two income tax slabs in the country. There are different provisions in both cases. If a person’s salary is 50 thousand, then how much tax will be deducted from the new or old tax slab? Let us tell you this. Therefore,  Budget 2023: The general budget will be presented on February 1. The fiscal year 202-23 is about to end. This time, people are hoping that the income tax exemption…

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

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…

Section 16 of the Income Tax Act| With Auto Calculate Income Tax Preparation Software All in One in Excel for the Non-Govt Employees for the F.Y.2023-24 & A.Y.2024-25

 Section 16 of the Income Tax Act| Section 16 deductions help revise your taxable income to reduce  your tax liability. Standard deduction  Deduction from entertainment allowance paid by your employer Deduction at the professional rate from salary income Therefore, The standard deduction under Section 16(ia) – Under Section 16(ia), the standard deduction is the fixed deduction allowed from your salary income. It replaced transport allowance and medical treatment deductibles and was introduced by the Government in the Union Budget 2018. The amount of standard deduction allowed was Rs.50,000. You can deduct this amount…