The income chargeable under the head "Salaries" is registered after making the following deductions under Section 16: 1. Standard Deduction; 2. Entertainment Allowance Deduction; and 3. Professional Tax. 1. Standard … [Read more...] about Deduction U/s 16 with Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2020-21
Deduction U/s 16 with Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2020-21
Possessing a home can be considered as one of the most desirable wishes for the greater part of us. In any case, given the soaring costs of houses in the metros and even in Level II urban communities, it has become increasingly hard for individuals to afford it. Therefore, the administration has concocted several key benefits under section 24(B) of the Personal Tax Act, … [Read more...] about Section 24 (B) : All About Deductions From Home Loan With Automated Income Tax Preparation Excel Based Software All in One for the West Bengal Govt Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC.
The new Income Tax slab has come into power in the nation from 1 April 2020. The new tax slab rates have been kept discretionary by the administration. On the off chance that a taxpayer is benefiting more from the old slab, he can document it. The Income Tax Division has given a clarification for the individuals who need to choose the new tax slab declared in the Financial plan … [Read more...] about How to Fix On Salary and New Tax Slabs U/s 115 BAC? Described of the Income Tax Department + Automated Tax Software All in One for Govt and Private Employees for the F.Y.2020-21
Financial plan 2020 has presented the new tax regime for F.Y 2020-21 notwithstanding the old tax regime. F.Y 2020-21 onwards the taxpayer can pick the best tax regime dependent on the tax-sparing potential, reasonableness, and quick needs. This article covers 1. Rates of taxes and Tax Chunks … [Read more...] about Difference between New and Old Tax Regime U/s 115 BAC for F.Y.2020-21
The exceptions and deductions are not applicable here. This being said, the new tax system has its own benefits and negative marks. The primary valid statement about the new system is that it is not totally replacing the old or a rather current system. The administration is not forcing the new rates and the new immediate tax system on the taxpayers. Also, the taxpayers … [Read more...] about Old -Vs – New Tax Regime U/s 115 BAC – Which Is Better? With Automated Income Tax Preparation Excel Based Software All in One for the Govt and Private Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC