Tag: Tax

What is Form 16? Download Automatic Income Tax Form 16 Part A&B and  Part B for F.Y.2022-23 in Excel

What is Form 16? Form 16 Parts, Types, Eligibility, and Benefits | Form 16 is a type of document  issued by an employer to its salaried employees when they file their income tax return for a particular  financial year. Form 16 Part B must be filled by the deductor U/s 203 of the Income-tax Act, 1961 if  the […]

Do you think Tax Audit threshold limit U/s 44AB for Professionals should be increased from 50 lakh ?- My point of view.

What is Profession ? There is no proper definition of Profession is given under Income Tax Act.According to Sec 2(36) of Income Tax Act, “profession” includes vocation.Sec 44AA  deals with the professions that required to maintain books of accounts are, Legal Medical Architectural Accountancy Technical consultancy Interior decoration Any other profession notified by CBDT Is […]

Tax Audit (sec 44AB) limit for Businesses is 1 Crore or 2 Crore in FY 2018-19 / AY 2019-20? Here is the answer

What is Audit ? Audit means an inspection of books of accounts by some officials or some specified persons for the purpose of establishing the fact that the accounting records present a true and fair view. Types of Audit There are two types of audit, namely Statutory audit and Tax audit. What is Statutory Audit […]

Income Tax Department Survey, Search & Seizure (RAID) – When it happens & What to do? Read here to avoid fraud inspections

Usually we always afraid of such things, about which we have not any clear idea. ‘Income Tax Survey & Raid’ is one of that kind of things. Even many genuine taxpayers are afraid of ‘Income Tax Survey & Raid’ due to lack of proper knowledge and complicated law. Also you may seen in movies (like: […]

Download Automatic Income Tax Calculator All in One for West Bengal State Employees for the F.Y.2024-25 and A.Y.2025-26 as per Budget 2024

Are you a West Bengal State employee gearing up for the financial year 2024-25? Managing your income tax can be a hassle, but worry not! We’ve got you covered with the ultimate solution – the Automatic Income Tax Calculator All in One specifically designed for West Bengal State employees.  Therefore, In this comprehensive guide, we’ll […]

Calculate your Tax Burden for the F.Y.2024-25 and A.Y.2025-26 as per the Finance Budget 2024 by this Automatic Income Tax Calculator All in One in Excel for all Salaried Persons for the F.Y.2024-25

Tax season can be a daunting time for many of us. Whether you’re a seasoned professional or just starting out in your career, understanding your tax obligations is crucial. Fortunately, with the advancements in technology, calculating your tax burden has become more accessible than ever. In this article, Therefore, we’ll explore how you can effortlessly calculate […]

Non-Taxable Income- Big Update! The 5 Income Tax Exempt, Income Tax Dept Gives Exemption, Know What Tax-Free Earnings Are

Non-Taxable Income- Big Update! The Income Tax Department in India does not levy any tax on income earned through other services. But that has different features and limitations. As the deadline for filing income tax returns approaches, it’s important to know. Tax-Free Income: Every income taxpayer is always looking for ways to save on income tax. For this, […]

Download Auto Calculate Income Tax Preparation Software in Excel All in One for the Non-Government Employees for the F.Y.2023-24 and A.Y.2024-25 With Details of Section 115BAC of the Income Tax Act known as the new tax regime

 Download Auto Calculate Income Tax Preparation Software in Excel All in One for the Non-Government Employees for the F.Y.2023-24 and A.Y.2024-25 | Therefore, Section 115BAC of the Income Tax Act is known as the new tax regime| Those opting for the new tax regime should be aware of Section 115BAC of the Income Tax Act, 1961. Section 115 BAC […]

Download Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2023-24 and A.Y.2024-25 with 6 major income tax rules have been changed for A.Y.2024-25

1) New income tax regime Download Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2023-24 and A.Y.2024-25 | From 1 April 2023, the new income tax regime will operate as a tax default. Taxpayers will be able to choose between the following regimes. Salary and pensions: standard deduction of the new system for […]

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