Download Automatic Income Tax Calculator All in One in Excel for the All Salaried Employees for the F.Y.2024-25 as per Budget 2024

New Slab

Are you ready to tackle your taxes with ease? Say goodbye to the headache of manual calculations and cumbersome spreadsheets. Introducing the Automatic Income Tax Calculator All in One in Excel for both government and non-government employees, tailored specifically for the Fiscal Year 2024-25 as per Budget 2024. Whether you’re a seasoned tax filer or a newcomer to the process, this tool is designed to streamline your tax preparation journey. Table of Contents Sr# Headings 1 Understanding the Importance of an Automatic Calculator 2 Key Features of the Automatic Income…

Tax benefits to the Senior Citizen as per 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 and A.Y.2024-25

Senior Citizen

 Tax benefits to the Senior Citizen as per Income Tax Act | These articles discuss the income tax benefits available to senior citizens. A person becomes old under the Income Tax Act after completing 60 years or at least one day. After he reaches the age of 60, old age status gives him relief in that financial year. There are few income tax benefits for the Sr.Citizen. They are listed below: The Sr. Citizens between the ages of 60 to 80 Years and Very senior citizens above 80 Years are granted higher deduction limits than regular taxpayers.…

Download Automatic Income Tax Preparation Excel-Based Software All in One for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25 with Tax exemption on Leave Encashment

Leave Encasement

 Download Automatic Income Tax Preparation Excel-Based Software All in One for the Non-Govt Employees for the F.Y.2023-24 | CBDT (Central Board of Direct Taxes) see your notification S.O. 2276(E) of May 24, 2023, Therefore, increased the maximum amount your employees are entitled to receive as  In other words, Leave Encashment to pay the equivalent (vacation replacement) with respect to the period of your credit leave at the time of your retirement, whether pensionable or otherwise up to Rs. 25,00,000 (twenty-five lakhs rupees only) and the same is effective from 1st April 2023 Definition of Leave Encashment pay: – According…

Download Automatic Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25 with Income tax reduction under old and new tax regimes

Tax Rebate

Download Automatic Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25 | Similarly, A tax credit is a tax refund if an individual’s tax liability is less than the tax paid. That is, through the deduction, the individual gets back the entire tax amount at the end of the year. This means that the discount is different from the basic rejection threshold. Therefore, Tax allowance according to the tax regime Exemption threshold till 2022-23 financial year under old and new tax regimes. Taxpayers opting for any scheme till this financial year will…

Download Auto Calculate Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25 and Know How to save income tax on your salary?

Tax Slab for A.Y. 2023-24

Download Auto Calculate Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25 | Tax planning for salaried employees is all about planning and discipline. Every salaried employee has some questions in his mind, Therefore, How reduce the Tax on my salary? Why does most of my salary go to taxes? How to reduce your tax burden? Can I deduct taxes in excess of 80C, 80D, and HRA? Are there any secret ways to save tax after 1,50,000? How can I reduce the tax on my salary earned?…

Auto Calculate Income Tax Preparation Software in Excel for the Non-Govt (Private or PSU) Employees for the F.Y.2023-24 and A.Y.2024-25 with Tax planning on investments under section 80C.

Tax Slab for A.Y. 2023-24

Auto Calculate Income Tax Preparation Software in Excel for the Non-Govt (Private or PSU) Employees for the F.Y.2023-24 and A.Y.2024-25 | Section 80C of the Income Tax Act of India is a provision that allows individuals to claim deductions on investments and expenses. It is one of the most popular tax-saving options for individuals in India. Section 80C allows taxpayers to reduce their taxable income by investing in eligible instruments or making certain payments. Therefore, The maximum deduction available under section 80C is 1.5 Lakh per financial year. In other words, This means that individuals can reduce their taxable income by up to…

How to file 10E in the new income tax portal? With Auto Calculate Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2023-24

Tax Slab for A.Y. 2023-24

How do file 10E in the new Income tax portal? Filing income tax returns is an important responsibility  for every income earner in India. It is a legal requirement to ensure that the government accurately  assesses the tax liability of individuals and to prevent tax evasion. We discuss how to file Form 10E on  the new income tax portal. Therefore,  With the introduction of the Income Tax Portal in 2021, tax returns have become faster and more efficient. What is Form 10E? In other words, Income Tax Form 10E is a declaration form that…

Can you get tax deductions for HR and home loans at the same time? With Automatic Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25

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Can you get tax deductions for HR and home loans at the same time? House Rent Allowance (HRA) is an allowance provided by employers to cover the cost of rented accommodation. The Income Tax Act allows exemption from HR if the employee lives in a rented house. In addition, the law allows an individual taxpayer to deduct the interest paid on his home loan. This discount applies to home loans for the purchase, construction, renovation, or reconstruction of residential property. As per the Income Tax Act. Entitled taxpayers to get benefits both Home Rent Allowance (HRA) and interest…

Advantage of filing Income Tax Returns in due time with Automatic Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25

TAX BENEFITS

Advantages of filing Income Tax Return in due time | Below are some of the benefits of filing income tax on time: (1) Easy loan approval Banks and other financial institutions often require a copy of your tax return when applying for a loan. Filing your return on time will make it easier to get loan approval. (2) Refund of TDS If you have overpaid TDS, you can claim a refund. If you register early, you will be refunded. 3) Proof of income and address Your income tax return can be used to prove and address…

Section 80DD Expenses – Claim tax deduction on medical expenses for disabled persons| With Auto Calculate Income Tax Software All in One for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25 in Excel

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Section 80DD Expenses – Claim tax deduction on medical expenses for disabled persons| Individuals or HUFs can claim an exemption under Section 80DD of the Income Tax Act for a disabled person who is wholly dependent on the Individual/HUF for support and services. Therefore, the Conditions for claiming exemption under section 80DD  To avail of this discount, need to the following conditions: • Taxpayers are entitled to payment, not taxpayers. • If the taxpayer claims exemption under section 80U for himself, the taxpayer cannot claim this exemption. In other words, Taxpayers include spouses, children, parents, siblings,…