Include a new section 115 BAC in the 2020 budget for the fiscal year 2022-23. This section 115BAC contains an option that allows you to continue the old tax regime with all income tax exemptions as of the financial year 2021-22 and opt for a new tax regime except for all tax exemptions on the income as in the previous financial year. Therefore, As per the budget, a new U/s tax label has been specified under 115BAC which was introduced in the 2020 Budget . In other words,, As per the new Section 115BAC…
Tag: Income Tax Calculator for the F.Y.2022-23
Save tax on Income for the A.Y.2023-24| With Automated Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2022-23
Save tax on Income for the A.Y.2023-24|For most people, paying income tax at the end of the tax year is a difficult task. Much of the fuss revolves around scheduling insurance, rent, and other receipts in such a way as to result in the lowest tax liability possible. Therefore, Income tax planning doesn’t have to be a difficult task if you carefully consider every aspect of your income. While some of the tax-saving methods are very common, if you are in a higher tax bracket, you can turn to non-traditional methods…
Income Tax Deduction for persons with disabilities| With Automated Income Tax Preparation Software in Excel for the Non-Govt(Private) Employees for the F.Y.2022-23
Income Tax Deduction for persons with disabilities| Section 80U of the Income Tax Act of 1961 allows persons with disabilities to claim tax credits. Any resident of India with a disability can claim tax exemption of up to Rs 75,000 on their annual income. The Tax Regulation allows persons with disabilities to enjoy tax benefits when filing an ITR. Therefore, In other words, Residents of India who are recognized as disabled under laws established by the Government of India may qualify for Section 80U tax deductions. An individual applying for tax exemption must be a resident of India during the…