Section 80TTA / 80TTB – Deductions on interest income with Automatic Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25
Deduction for savings account interest income Section 80TTA allows HUFs or individuals to claim exemption up to Rupees Ten Thousand interest from savings accounts. The difference is based on the interest earned on an account held in a bank, post office, or cooperative society. The maximum withdrawal limit is Rupees Ten Thousand irrespective of the amount […]
Section 80EE-An additional income tax deduction for home loan interest| With Auto Calculate Income Tax Arrears Relief Calculator U/s 89(ia) with Form 10E for the F.Y.2023-24 and A.Y.2024-25 in Excel.
Section 80EE-An additional income tax deduction for home loan interest|Indeed, the fortunes of buying your first home are different. Especially after going through the daunting process that begins – finding a home that fits your budget and meets your needs – to the more tiring steps of getting a home loan. However, this can be beneficial for […]
Section 80DD Expenses – Claim tax deduction on medical expenses for disabled persons| With Auto Calculate Income Tax Software All in One for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25 in Excel
Section 80DD Expenses – Claim tax deduction on medical expenses for disabled persons| Individuals or HUFs can claim an exemption under Section 80DD of the Income Tax Act for a disabled person who is wholly dependent on the Individual/HUF for support and services. Therefore, the Conditions for claiming exemption under section 80DD To avail of this discount, need […]
Exemptions under section 10 of the Income Tax Act| With Auto Calculate Income Tax Predation Excel Based Software All in One for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25
Exemptions under section 10 of the Income Tax Act | Income Tax Section 10 of the I,.T Act, 1961 described tax benefits to a salaried person. This section is displayed on income that falls under the exemption category and is not included in the total income for the year. Therefore, In this article, you will learn about the […]
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 […]
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 […]
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 […]