Tag: Income Tax New System new and old Tax Regime U/s 115BAC for the F.Y.2020-21

Income Tax deduction for medical treatment U/s Section 80DDB With Automated Income Tax Preparation Software in Excel for the West Bengal Govt Employees for the F.Y.2020-21 ( New and Old Tax Regime U/s 115 BAC)

Who can Claim Deductions under Section 80DDB? Under Section 80DDB of the tax Act, 1961, taxpayers can claim a deduction for medical treatment of certain specified ailments for self or dependent. this sort of deduction is roofed in Chapter VIA of the tax Act, 1961. The citizen of India can claim deduction under this section. […]

What is the Interest Income is Exempt for Senior Citizens and Individuals in Income Tax? With Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2020-21 (Updated Version)

IntroductionThe Savings Bank Interest earns is the amount paid to an entity for lending its money or letting another entity use its funds. On a bigger scale, interest income is the amount earned by an investor’s money that he places in an investment or project. Such income is usually taxable, however, the Income Tax gives […]

What is the deduction under section 80TTA? With Automated Income Tax Preparation Excel Based Software All in One for the Govt and Non-Govt Employees for the F.Y.2020-21

It is noted that this Exemption entitled to the taxpayers who are opt-in the Old Tax Regime U/s 115BAC Introduced in Budget 2020 The Unique Section 80TTA provides a deduction of Rs 10,000/- on the interest income from Savings Bank Interest Max Rs. Ten Thousand. This deduction is out there to a private and HUF. […]

Download Automated Income Tax Calculator All in One for the Bihar State Govt Employees for the F.Y.2020-21 as per the Budget 2020 with New and Old Tax Regime U/s 115BAC

In the Budget 2020 introduced a new Section 115 BAC for the F.Y.2020-21. This Section 115BAC have an option that you can stay in the Old Tax System along with all the Income Tax Exemptions as per the F.Y.2019-20 and you can Opt-in the New Tax Regime Excluding any Exemptions of Income Tax as the […]

Download Automated Income Tax Calculator All in One for the Andhra Pradesh State Govt Employees for the F.Y.2020-21 as per the Budget 2020 with New and Old Tax Regime U/s 115BAC

In the Budget 2020 introduced a new Section 115 BAC for the F.Y.2020-21. This Section 115BAC have an option that you can stay in the Old Tax System along with all the Income Tax Exemptions as per the F.Y.2019-20 and you can Opt-in the New Tax Regime Excluding any Exemptions of Income Tax as the […]

Income Tax Section 80TTA Rebate from Savings Bank Interest Including Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) for the F.Y.2020-21

The provisions of Section 80 TTA of the Income Tax Act may read as follows: – Discounts in a deposit on savings account in accordance with the provisions of Chapter 80 TTA • Account where the total income of an appraiser (excluding the assessment prescribed in the 80TTB section for senior residents) is included in […]

The CBDT has issued a notification approving the exemption of Section 115BAC for F.Y 20-21, including automated income tax preparation excel based software for private employees for F.Y.2020-21

CBDT has issued a notice for giving exclusion under section 115 BAC: CBDT has issued a notice No.G.S.R.415E dated.26.06.2020 (Download  Notification) for endorsement of certain exceptions under section 115 (14) of the Income-tax Act, 19 61 of. Appraisal of the license to any salaried individual who has picked the alternative under section 115 BAC (5) […]

How much Tax you should pay as per New Tax System U/s 115 BAC for the F.Y. 2020-21 Including the Automated Income Tax Excel Based Software All in one for the Govt & Non-Govt Employees for F.Y.2020-21 As per U/s 115 BAC

All the taxpayers are known that the New Tax System introduced in Budget 2020 U/s 115 BAC For the F.Y.2020-21. In this System, you can choose your option as Old Tax Slab or New Tax Slab U/s 115 BAC. In this regard, you must know your Tax that you shall be paid to the Government […]

Exemption Tax on Interest Received From Post Office/Savings Bank Account U/s 80TTA with Automated Income Tax Software All in One for the Govt & Non-Govt Employees for F.Y.2020-21 as per U/s 115BAC

In today’s situation, where we watched different cheats identified with banks, in such a circumstance numerous individuals and mainly senior residents are moving towards the post office to make sure about their no-nonsense cash. Despite the fact that the pace of interest is now and again somewhat less the security and trust with the post […]

Income Tax Saving Investments For Salaried Persons for Old Tax Regime U/s 115 BAC with Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for F.Y.2020-21

Many individuals who are accepting income under the head salary ask about the strategies which can legally help in saving tax on salaried individuals. Is not allowed to claim costs aside from those predetermined under the Income Tax Act. Therefore, they can just put resources into or claim certain costs which are discussed beneath in […]

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