On 13th April 2020, the Central Board of Direct Taxes (CBDT) issued a circular to employers to obtain a declaration from their employees if they wish to opt for the new tax regime. For better understanding, to know the calculation procedure under Old and New tax regimes, and to take the decision whether we can […]
Download Automated All in One TDS on Salary for Govt & Non-Govt Employees for F.Y. 2020-21 & A.Y. 2021-22 and Choose Which is the best option How to calculate income tax?
Process of Income tax calculation for the Salaried Persons for F.Y. 2020-21 As per Budget 2020 Income from salary is the sum of Basic salary + HRA + Special Allowance + Transport Allowance + any other allowance. Some components of your salary are exempt from tax, such as telephone bills reimbursement, leave travel allowance. If […]
New Income Tax Regime Vs Old Tax Regime: Which is better for you? With Automated Income Tax House Rent Exemption Calculator in Excel
Union Budget 2020 offers individuals the choice of paying tax under the new regime of lower income tax rates by forgoing the tax exemptions/deductions or continue to pay tax under the existing income tax laws by claiming the applicable exemptions and deductions. Essentially, the more exemptions an individual claims, the less likely he/she is to […]
Download Automated Excel Based Income Tax Deposit Challan 280 FY 2019-20 AY 2020-21
Excel Challan 280 FY 2019-20 AY 2020-21. Download Income Tax payment Challan No. ITNS 280 in Excel. This excel Challan 280 for payment of Income Tax should be used for making payment of income tax on companies (corporation tax) or income tax other than companies. Please note that Finance Act, 2013 w.e.f. 01/06/2013, had inserted […]