Tax Benefits on Home Loan| While purchasing a property through a home loan, one can save tax under Section 24, Section 80C, Section 80EE, and Section 80EEA of the Income Tax Act. We are regularly asked how we can save tax on purchasing a home with a home loan. That’s why we’ve created this blog in which we focus on […]
Exemption U/s 80C | With All-in-One Automated Income Tax Preparation Software in Excel for Non-Government Employees for Financial Year 2022-23
Exemption U/s 80C | Investment under Section 80C has two purposes: first, to make investments, and second, to save tax. Thus, the tax thus saved and the investments thus made can be used in the future. Miscellaneous funds under section 80C There are several investments under section 80C which allows the assessee to reduce his tax liability to […]
Arrears Salary Relief Calculator A.Y 2023-24 for claiming relief u/s 89(1) in Excel
Arrears Salary Relief Calculator A.Y 2023-24 for claiming relief u/s 89(1) in Excel|A.Y 2023-24 (F.Y 2022-23) Calculator of arrears of pay for claiming deduction under section 89(1) of the Income Tax Act 1961-Download Therefore, In accordance with Section 89(1) of the Income Tax Act, a reduction in income tax was granted in 1961 when an employee receives an […]
Income Tax Arrears Relief Calculator U/s 89(1) With Form 10E for the F.Y.2022-23
Income Tax Arrears Relief Calculator U/s 89(1) With Form 10E | What if they pay you late? If really, you may be worried about the tax consequences of it. Do you have to pay taxes on the total tax base? Shouldn’t something be said about last year’s tax checks and such? For taxpayers with these requests in mind here’s […]
LTA – Tax benefits| With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2022-23
LTA – Tax benefits| Leave Travel Allowance is one of the best tax-saving tools available to an employee. It’s a tax exemption that employers offer their employees. Therefore, Leave Travel Allowance, as the name suggests, is an allowance paid by an employer to an employee when the primary travel with the family or on their own. The amount paid as […]
Provident Fund –Vs- Fixed Deposit, which investment strategy is right for you? With Automated Income Tax Preparation Software in Excel All in One for the Government and Non-Government Employees for F.Y.2022-23
Provident Fund –Vs- Fixed Deposit, which investment strategy is right for you? If you want a relaxed lifestyle without the hassle of earning money in retirement, public provident funds and fixed deposits maybe the right option for you. Therefore, Financial planning for the future is very important. Especially when we start earning money at a young age. If […]
Is the tax due for one year more than Rs.10,000? You are responsible for paying taxes in advance
Is the tax due for one year more than Rs.10,000? Where the tax payable by a person exceeds Rs 10,000 after deducting the original TDS it comes into play. Challan280 has been cleared by the IT department for early payment of taxes. It can be paid online using the link https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp and click on Challan no./ITNS 280 tab. Download the Automated […]
Housing Loan Interest Deduction – Section 24B | With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2022-23
Housing Loan Interest Deduction – Section 24B| Section 24b of the Income Tax Act allows for the deduction of interest on mortgage loans from taxable income. The said loan must be taken for the purchase or construction or repair or reconstruction of residential property. Therefore, This deduction is allowed on an accrual basis, not the payment. In other […]
Section 80E deduction of study loan interest | With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2022-23
Section 80E deduction of study loan interest | Section 80E gives you a tax deduction on an “interest item” charged on a loan taken out for the higher education of an individual valued. Educational credits earned for higher studies in India or abroad are both eligible for deduction under this section. Therefore, What is Section 80E of Income […]
Exemption on rent paid U / s 80GG| With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2022-23
80GG is an exemption under chapter VI-A of the Income Tax Act of 1961. It was introduced to help those individuals who do not receive any rental allowance but pay rent for their stay. Thus, a person can claim a deduction from the rent paid, even if they do not receive a housing allowance. Therefore, A person […]