Tag: Income Tax news

Standard Deduction Relief – A big relief for salaried taxpayers who will now get Rs 7.5 lakh tax relief under the new tax regime | Auto Calculate Income Tax Preparation Excel Based Software All in One for the West Bengal Govt Employees for the F.Y.2023-24 and A.Y.2024-25

Standard Deduction Relief: From April 2023 onwards, the process of calculating savings and income  tax will start again. Due to the entry into force of the new default tax regime this year, there has been a  lot of interest in this topic. The government has also given tax relief worth Rs 2 Lakh more than under […]

Salary exemption under section 16 of the Income-tax Act, 1961|With Auto Calculate Income Tax Preparation Software in Excel All in One for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25

Salary exemption under Section 16 of the Income-tax Act, 1961 Section 16 of the Income Tax Act,  1961 deals with allowances and deductions on taxable wages. Under Article 16, salaried taxpayers and  pensioners*, regardless of their tax status, can claim deductions from their taxable income. However, The section  For instance, consists of three components – standard deduction under […]

Arrears Relief U/s 89(1) as per the Income Tax Act with Auto Calculate Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 FY. 2023-24 as per Budget 2023

 Arrears Relief U/s 89(1) as per the Income Tax Act | Taxpayers can claim a deduction under Section 89  of the Income Tax Act when they receive any part of their salary in advance or arrears. This rule also  applies to arrears of family pensions. What is the relief under Section 89 of the IT Act? If an employee […]

Which is better, the new or old tax regime for salaried employees? With Excel-based automatic income tax preparation software for salaried employees for the financial year 2023-24 and assessment year 2024-25.

Which is better, the new or the old tax regime for salaried employees? Remember the new 2020 tax regime? If you missed it, now might be a good time to revisit it. The Union Budget 2023 re-introduced the new tax regime, making it superior to the existing one. Even if the old tax regime is in place, the incentives […]

Which is better between the New and Old Tax Regime for F.Y.2023-24 and A.Y.2024-25? With Auto Calculate Income Tax Preparation Software in Excel for the All Salaried Persons for the F.Y.2023-24 and A.Y.2024-25

Which is better between the New and Old Tax Regime for F.Y.2023-24 and A.Y.2024-25? Now is the  time for many participants; Salaried individuals, in particular, have to choose between opting for the  New Tax Regime or continuing with the Old Tax Regime. Through this article, the author wants to help  them in their decision-making process. Therefore,  There is […]

New income tax regime disallowed deductions |With Auto Calculate Income Tax Preparation Excel Based Software All in One for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25 as per Budget 2023

New income tax regime disallowed deductions| Below is a list of key tax deductions that are claimed  under the current tax regime but not under the new income tax regime: Therefore,  • Exemptions under Section VI-A, ie Section 80C; 80CCC; employee contribution 80CCD; 80D; 80DD; 80DDB; 80E; except under 80EEA, 80CCD(2) and 80JJAA; • Interest on home loans […]

Tax Exemption in different sections of Income Tax for the F.Y.2023-24 for the Old Tax Regime with Auto Calculate Income Tax Preparation Software in Excel All in One for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25

 Tax Exemption in different sections of Income Tax for the F.Y.2023-24 for the Old Tax Regime | A tax exemption is a benefit granted by the government to individuals or organizations to exempt some or all of their income from taxation. As per the Income Tax Act exemptions are provided under different sections in India. Including Sections 80C, 80D, 80E, 80G, and 80GG. These sections […]

Old vs. New Income Tax Regime Which Tax Regime is Better for the A.Y.2024-25? With Auto Calculate Income Tax Preparation Software in Excel All in One for the Salaried Persons for the F.Y.2023-24 and A.Y.2024-25

 Old vs. New Income Tax Regime Which Tax Regime is Better for the A.Y.2024-25? In the Finance  Bill, 2023| New Tax Regime has been introduced with some benefits compared to the previous New  Tax Regime. The earlier New Tax regime was not so attractive but the latest amendment has made this  new regime more attractive to change from the old regime […]

Changes in the new tax regime: everything you need to know | Excel-based Income Tax preparation program for Non-Govt Employees (private) employees for F.Y.2023-24 and A.Y.2024-25

 Changes in the new tax regime: everything you need to know | A new tax regime has been introduced  through the Union Budget 2020. In this tax regime, the income tax rates are lower and if a person opts  for this regime, he will have to lose most of the benefits. Who can choose the new tax […]

Old vs New Income Tax Regime Which Tax Regime is Better for the A.Y.2024-25? With Auto calculate Income Tax Preparation Excel Based Software All in One for the Govt and Non-Govt Employees for the F.Y.2022-23 and A.Y.2024-25

Old vs New Income Tax Regime Which Tax Regime is Better for the A.Y.2024-25? In the Finance Bill,  2023 New Tax Regime has been introduced with some benefits compared to the previous New Tax  Regime. The earlier New Tax regime was not so attractive but the latest amendment has made this new  regime more attractive to change from the […]

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