Employees have to inform their employers must intimate to their Option about New Or Old Tax Regime U / s 115 BAC- with Automated Income Tax Arrears Relief Calculator U / s 89 (1) for the F.Y.2020-21

Income Tax Deduction U/s 80CCD

The CBDT states that the employee can change the option of tax structure while filing the income tax return and the amount of TDS payment will be adjusted accordingly in the CBDT prescribed Form 10-IE given below the Option Form 10-IE is given below. In the old Tax Slab, income up to Rs 2.5 lakh […]

What is Section 115BAC? Calculate Your Income Tax Labiality As per the new section 115BAC for the F.Y.2020-21 with the Excel Based Tax Calculator All in One for the Govt & Non-Govt Employees for the F.Y.2020-21

Deduction U/s 80C

Section115BAC is the newly inserted section in the Income Tax Act, 1961 that deals with the new income tax regime. This section and alternate tax regime was introduced in Union Budget 2020 and are applicable to individuals and Hindu Undivided Families (HUFs) only. A key feature of this new regime is that the income tax […]

Download Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for F.Y.2020-21 with Income Tax Section 80TTA – Details about Claiming Exemption on Interest

Income Tax Section 80TTA

This article is tied in with asserting deduction on interest under Section 8oTTA. On the whole, what is 80TTA? Section 80TTA gives a deduction of Rs 10,000 on interest income. This deduction is accessible to an Individual and HUF. This deduction is allowed on interest earned – •           From an investment account with a bank […]