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 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 […]
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 […]
Download Excel-based software all-in-one for the Government and Private employees for F.Y. 2023-24 and A.Y. 2024-25 with exemptions and deductions not claimable under the scheme’s new taxation
Download Automatic Income Tax Calculation Software based on Excel all in | The following are some of the major deductions and exemptions you can’t claim under the new tax system: Therefore, You may also like- Download and Prepare at a time 50 Employees Form 16 Part B for the Financial Year 2022-23 and Assessment Year […]
LTA – Tax benefits| With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2022-23
LTA – Tax benefits| Leave Travel Allowance is one of the best tax-saving tools available to an employee. It’s a tax exemption that employers offer their employees. Therefore, Leave Travel Allowance, as the name suggests, is an allowance paid by an employer to an employee when the primary travel with the family or on their own. The amount paid as […]
Save tax on Income for the A.Y.2023-24| With Automated Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2022-23
Save tax on Income for the A.Y.2023-24|For most people, paying income tax at the end of the tax year is a difficult task. Much of the fuss revolves around scheduling insurance, rent, and other receipts in such a way as to result in the lowest tax liability possible. Therefore, Income tax planning doesn’t have to be […]
Standard deduction from salary and pensions| With Automated Income Tax Preparation Excel-Based Software All in One for the Govt and Non-Govt Employees for the F.Y.2022-23
Standard deduction from salary and pensions| Accordingly, A standard deduction means a fixed deduction for people who receive wages or retirement income. It was introduced in the 2018 budget in lieu of exemptions from travel expenses and reimbursement of various medical expenses. In the 2021-22 tax year, the default deduction limit is Rs 50,000. In this guide, we’ll cover what […]
Exemption from bank savings interest U/s 80TTA| With Automated Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.2022-23
Section 80TTA of the Information Technology Act provides a tax deduction for interest income from personal savings. To help you claim your Section 80TTA Income Tax Act deductions, we will discuss your eligibility, threshold, inclusions, and exclusions in detail. What is a section 80TTA deduction? Section 80TTA deduction was established in 1961 and provides for a […]
Highlights of Budget 2022 | With Automatic Income Tax Form 16 + Arrears Relief U/S 89(1) + Automatic Income Tax Preparation software All in One in Excel for the F.Y.2021-22
Highlights of Budget 2022. No change latest income tax slab rates for F.Y 2022-23 & A.Y 2023-24 after Budget 2022. There are any changes in the income tax rates applicable to individuals? Let’s see the details. In this post, my focus is to share with you the latest Income Tax Slab Rates and applicable Security Transaction […]
Significant changes in income tax for the F.Y.2021-22| With Autofill Income Tax Preparation Software All in One in Excel for the Government and Non-Government Employees for the F.Y.2021-22
Significant changes in income tax which will be effective from 1st April 2021 The new financial year is going to start from 1st April The government has planned some major changes for this financial year (2021). In the 2021 budget, Therefore, Finance Minister Nirmala Sitharaman did not provide any relief to the middle class and paid the class in terms […]