October 26, 2020

Itax Software

Income Tax Software

Budget 2019 – Rs 1.5 lakh Additional Income Tax deduction on affordable home loans U/s Section 80EEA, With Automated Income Tax Form 16 Part B for F.Y. 2018-19

Union Finance Minister Nirmala Sitharaman, in her lady Budget discourse
on Friday, declared an extra Income Tax finding of Rs 1.5 lakh on
reasonable home credits.
to the proposition, annual citizens will get expense refunds of around
Rs 3.5 lakh on home credits of up to Rs 45 lakh obtained upto March 31, 2020.

Be that as it may, do take note of that this extra expense derivation is on ‘moderate lodging property’ as it were.
What are considered as Affordable Housing Properties?
The meaning of ‘moderate lodging’ as has as of late been changed as beneath;
        Properties costing up to Rs 45 lakh (Stamp Duty Value) will be considered as moderate.
        In metro urban areas, houses with a floor covering region up to 60 sq mtr (645 Sq ft) will be arranged under reasonable lodging.
Cities are Bengaluru, Chennai, Delhi NCR (restricted to Delhi, Noida,
Greater Noida, Ghaziabad, Gurgaon, Faridabad), Hyderabad, Kolkata and
Mumbai (entire of MMR).
        In non-metro urban areas, houses with a floor covering region of up to 90 sq mtr (968 Sq ft) will be arranged under reasonable lodging.
Rs 1.5 lakh extra Income Tax reasoning on moderate home advances U/s 80EEA
Personal Tax Benefits on home credit
Tax cut u/s 80C
can guarantee home credit enthusiasm on any number of homes you claim.
The home advance advantages can be sorted into two sections, head
reimbursement and
intrigue installment. Advantages for head reimbursement are accessible
u/s 80C and the most extreme conclusion limit u/s 80C is Rs. 1,50,000.
Deduction  u/s 24
advantages for home advance intrigue installments are likewise
accessible u/s 24B and 80EE of the annual assessment act. You can
guarantee the home credit intrigue advantages of up to Rs. 2,00,000 u/s

Download and Prepare at a time 50 Employees Income Tax Form 16 Part B for the Financial Year 2018-19 [ This Excel utility can prepare at a time 50 employees Form 16 Part B in new Format ]


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