Standard deduction Rs.50,000/- U/s 16(ia) – With Income Tax Preparation Software in Excel for the F.Y. 2020-21 as per U/s 115 BAC

The standard deduction U/s 16(1a) was reintroduced in the 2018 budget and amended in the 2019 budget, with the aim of replacing medical allowances and travel allowances for salaried employees. … Read More

Section 80EEA Exemption for interest on a home loan with Automated Income Tax Revised Form 16 for F.Y.2020-21

Section 80EEA has been introduced in the July Budget 2019 with the goal of “housing for all”. the Government increased the benefit for the financial year 2019-20. The main purpose … Read More

Excel-Based Income Tax Preparation Software – for the F.Y 2020-21

Excel-based Income Tax Preparation Software for the F.Y 2020-21–A.Y 2021-22 As per new and old tax regime U/s 115BAC In Budget 2020 introduced two tax systems, somehow benefit certain income … Read More

How to calculate your tax for the F.Y.2020-21as per Income Tax Act.

How to calculate your tax for the F.Y.2020-21 as per Income Tax Act. As per the new Budget 2020 introduced a new section 115 BAC, where given two option that … Read More

CBDT Circular No.20/2020 Dated 03/12/2020 on TDS on Salary F.Y 2020-21

Consistently, CBDT issues a yearly circular around December/January to direct employers and employees to understand the different standards identifying with TDS on pay rates. Therefore the Circular is useful in … Read More

Form 10-IE To Select New or Old Tax Regime U/s 115 BAC For F.Y.2020-21

As per Budget 2020, taxpayers were given an opportunity (option) to choose between the old and new tax regime. In the new tax regime, taxpayers have an opportunity (option) to … Read More

Introduced New Option Form 10-IE as per U/s 115 BAC for F.Y.2020-21

Those opting for new tax regime from the monetary year 2020-21 onwards should present an additional Form 10-IE while presenting their income tax returns.The (CBDT) notified a new Form to … Read More

Income Tax Preparation Excel Based Software All in One for the F.Y.2020-21 with tips U/s 115 BAC

Some Tips about New Section 115 BAC Budget 2020 has introduced a new Section 115 BAC which is a new tax Regime for individual updates and certain procedures and requirements … Read More

All in One Tax Calculator in Excel for the F.Y.2020-21 with New Section 115 BAC

While under the old tax regime the salaried people can keep covering taxes, as they had been doing work now; under the new regime, they will be obligated to settle … Read More