
Income Tax Exemption U/s 80GG | With Automated Income Tax Preparation in Excel for the Govt and Non-Govt Employees for the F.Y.2020-21
Income Tax Exemption U/s 80GG |Under the section, 80 GG, which is for claiming rent paid | Now who can claim tax deduction under Section 80 GG, it is for people who do not get HRA in their salary | It includes professionals and business people who do not get salaries | As such, section, …

EPF or PPF or VPF Accounts: Which one is better? With Automated Income Tax Preparation Excel Based All in One for the Govt & Non-Govt Employees for F.Y.2020-21
EPF or PPF or VPF Accounts: Which one is better? EPF or PPF or VPF Accounts: Which one is better? EPF or PPF or VPF Accounts: Which one is better? EPF vs PPF vs VPF: Employees’ Provident Fund (EPF) and Public Provident Fund (PPF) is viewed as one of the most preferred retirement funds arranged …

Is Sec 87A Tax Rebate Accessible under New Tax Regime? With Automated Income Tax Revised Form 16 F.Y. 2020-21
Sec 87A Tax Rebate Accessible under New Tax Regime? According to the Finance Bill 2019, the threshold furthest reaches of tax rebate U/s 87A was reconsidered to Rs 12,500 for F.Y 2019-20. This tax rebate has been made relevant if a person’s (Resident People including Senior Residents) taxable income does not exceed or equivalent to …

Is NPS deduction allowed under the New Tax Regime? With Automated income Tax Revised Form 16 for the F.Y.2020-21
It is the most unique question, is NPS deduction can be allowed under the new tax regime? Let’s make out about this topic. In the budget, 2020, you have to forego most of the deductions including public sector, 80C. But some deductions including employer contribution on account of NPS can still avail if you opt …

Income Tax Section 80C F.Y 2020-21 as per New Vs Old Tax Regime- with Auto Fill Income Tax Challan ITNS 280 in Excel
Income Tax Deductions Section 80C F.Y 2020-21 as per New Vs Old Tax Regime Planning of Tax is an indispensable part of a tax. Whether you are a salaried person, a professional or a businessman, with the right tax plan you can save a certain amount of tax. Indian Income Tax Act allows for some …

Tax Exemption of Health Insurance U/s 80 D F.Y 2020-21 With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2020-21
Income Tax Exemption/Deduction Health Insurance U/s 80D for the F.Y 2020-21. NOTE:- AS PER THE INCOME TAX NEW SECTION 115 BAC, INTRODUCED IN BUDGET 2020 AS NEW AND OLD TAX REGIME, THIS SECTION 80D MEDICAL INSURANCE IS NOT ENTITLED TO THE NEW TAX REGIME BUT THIS SECTION CAN BE AVAILED TO THE OLD TAX REGIME. …

Standard deduction Rs.50,000/- U/s 16(ia) – With Income Tax Preparation Software in Excel for the F.Y. 2020-21 as per U/s 115 BAC
The standard deduction U/s 16(1a) was reintroduced in the 2018 budget and amended in the 2019 budget, with the aim of replacing medical allowances and travel allowances for salaried employees. The standard deduction for salaried persons for 2012-2019 will take effect from 1st April 2019. Income Tax Standard Deduction U/s 10(1a) It is allowed to …

Section 80EEA Exemption for interest on a home loan with Automated Income Tax Revised Form 16 for F.Y.2020-21
Section 80EEA has been introduced in the July Budget 2019 with the goal of “housing for all”. the Government increased the benefit for the financial year 2019-20. The main purpose of introducing the department is to provide affordable housing finance for every class of common people and to enable the home buyer to keep low …

Excel-based Income Tax Preparation Software – for the F.Y 2020-21
Excel-based Income Tax Preparation Software for the F.Y 2020-21–A.Y 2021-22 As per new and old tax regime U/s 115BAC In Budget 2020 introduced two tax systems, somehow benefit certain income taxpayers and pull additional taxes on certain taxpayers. In the middle class taxpayers is your Excel-based income tax calculator can be used to calculate income …

Automated Income Tax Form 16 Part A&B and Part B for the F.Y.2020-21 as per U/s 115 BAC
Employers everywhere start receiving the Form 16 during this time of the year. So what is Form 16? Form 16 is a TDS Certificate that contains details of TDS deducted and deposited on your behalf by your employer to the Central Government. Still confused, let introduce you to about Form 16. Now that employer generates …