Income Tax Section 80GG is a exemption under Chapter VI-A of the Income-tax Act, 1961. It is intended to provide relief to those who do not receive a house rent allowance but are paying rent to stay. Thus, a person can claim a deduction for the rent paid even if he does not receive a house rent allowance. Therefore, […]
What is salary certificate Form 16? With Automatic Income Tax Form 16 Part B for the F.Y.2021-22
What is salary certificate Form 16? Form 16 is a salary certificate which issued U/s 203 of the Income-tax Act which deducts withholding tax (TDS) from the income from ‘Salary’. It is issued after deduction of tax by the employer from the salary of an employee and submission to the government. The form 16 salary certificate includes a […]
What is Income Tax Form 16? With automatic income tax revised master of Form 16 Part A and B for F.Y.2020-21
What is Income Tax Form 16? Form 16 is nothing more than a salary certificate issued by your company that provides information about the salary you received in the financial year and the amount of TDS deducted from your salary. In that case, the income from your annual salary exceeds the basic tax deduction limit; […]
Significant changes in income tax for the F.Y.2021-22| With Autofill Income Tax Preparation Software All in One in Excel for the Government and Non-Government Employees for the F.Y.2021-22
Significant changes in income tax which will be effective from 1st April 2021 The new financial year is going to start from 1st April The government has planned some major changes for this financial year (2021). In the 2021 budget, Therefore, Finance Minister Nirmala Sitharaman did not provide any relief to the middle class and paid the class in terms […]
Prepare Automatic Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2021-22|With what is the difference between tax deduction, tax exemption and a Tax Rebate?
Prepare Automatic Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2021-22|Taxes are the biggest concern for most of us. Like me, there are many who do not understand the process and are worried about how to get through it at this time of year. We either hire a specialist or rely on our CA […]
Income tax deduction as per U / s 115 BAC of F.Y.2021-22| With Automatic Income Tax Preparation Software in Excel All in One for the Government and Non-Government Employees for the F.Y.2021-22
Income tax deduction as per U / s 115 BAC of F.Y.2021-22|Top 9 list of income tax deductions as well as exemptions for F.Y 2021-22: You may only entitle the following deductions in the running assessment year on deposit and investments done by the previous financial year (F.Y 2020-21). Therefore, Therefore, Income Tax Deduction for A.Y 2022-23: The Income […]
Tax benefits on home loans| With Automatic Salary Arrears Relief Calculator U/s 89(1) with Form 10 E from F.Y.2000-01 to F.Y.2021-22 (Up-to-date Version)
Tax benefits on home loans. Union Finance Minister Nirmala Sitharaman in her budget speech proposed to extend the deadline for getting additional concessions for repaying interest on home loans till March 31, 2022. This comes after the government extended the deadline to March 31, 2021, in the previous budget. While a housing loan can help you get a home […]
Income tax deduction for salaried employees| With Automatic Income Tax Preparation Excel Based Software in Excel All in One for the Govt and Non-Govt Employees for F.Y.2021-22
Income tax deduction for salaried employees, When the overall taxpayers in the country are assessed, the salaried individuals make up a significant portion of it. And, their contribution to tax collection is considerable. With this in mind, the rules of the income tax deduction for salaried employees provide various opportunities for tax protection. With these discounts and deductions, you can […]
Income tax Section 80GG for House Rent Paid. With Automatic Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.21-22
For most employees, home rent allowance (HRA) as part of their salary income. However, some small and medium-sized companies can pay a single amount of money to employees without separation. For a hired employee, in order to claim deductions, HRA should be part of his salary income. However, the Income Tax Act 1961 provides for a deduction in respect of […]
Save tax for salaried people Includes automatic income tax preparation software in Excel for government and private employees for F.Y.2021-22
Save tax for salaried people, Central Budget 2021 results Therefore, Exemption from ITR filing for senior citizens aged 75 years and above, only pension and interest income. B. Therefore, The Income Tax Department has introduced a pre-filled ITR with additional details to facilitate the return filing process. C. In other words, The deadline for submission of […]