Income Tax Allowances and Deductions Allowed to Salaried Individuals With Automated Income Tax Preparation Excel Based Software All in One for the Govt & Private Employees for F.Y.2020-21 as per New and Old Tax Regime.

Income Tax Calculator

Salaried representatives form the major piece of the overall taxpayers in the nation and the commitment they make to the tax assortment is very significant. Annual tax deductions offer a gamut of chances for saving tax for the salaried class. With the assistance of these deductions and exclusions and, one could decrease his/her tax substantially. […]

Deduction U/s 16 with Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2020-21

Income Tax Form 10E

The income chargeable under the head “Salaries” is registered after making the following deductions under Section 16: 1.         Standard Deduction; 2.         Entertainment Allowance Deduction; and 3.         Professional Tax. 1. Standard Deduction [Sec. 16(i)/(ia)] – •           Standard deduction is Rs. 50,000; or •           the Amount of Salary, Whichever is lower. 2. Entertainment Allowance [Sec. 16(ii)]- Entertainment […]

Section 24 (B) : All About Deductions From Home Loan With Automated Income Tax Preparation Excel Based Software All in One for the West Bengal Govt Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC.

New-Tax-Slab-for-A.Y.2021-22

 Possessing a home can be considered as one of the most desirable wishes for the greater part of us. In any case, given the soaring costs of houses in the metros and even in Level II urban communities, it has become increasingly hard for individuals to afford it. Therefore, the administration has concocted several key […]

New Income Tax Section 115BAC for the F.Y.2020-21 Should you go for the New Or Old? With Automated Income Tax Preparation Excel Based Software for the Govt and Private Employees for the F.Y.2020-21 with New and Old Tax Regime U/s 115 BAC

Income Tax Form 10E

From F.Y 2020-21, you can decide to pay income tax under an optional new tax regime. As per Income Tax Section 115 BAC, the new tax regime is allowable for people and HUFs. Poor tax slab has no deductions or exclusions is the key element. Arrangements of the new tax regime are secured under section […]