Tag: Income Tax news

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 […]

Some major changes in the New Income Tax Regime for the F.Y.2023-24 and A.Y.2024-25 as per Budget 2023|With Auto Calculate and Auto Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024

Some major changes in the New Income Tax Regime for the F.Y.2023-24 and A.Y.2024-25 as per Budget 2023|From April 1, 2023, the new fiscal year 2023-24 will begin. Union Finance Minister Nirmala Sitharaman’s Budget announcements will come into effect from April 1. Therefore, Here’s a brief overview of the income tax changes that will affect taxpayers in 2023-24. 1. In […]

Advantage of filing Income Tax Returns in due time with Automatic Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25

Advantages of filing Income Tax Return in due time | Below are some of the benefits of filing income  tax on time: (1) Easy loan approval Banks and other financial institutions often require a copy of your tax return when applying for a loan. Filing your return on time will make it easier to get loan approval. […]

Exemptions under section 10 of the Income Tax Act| With Auto Calculate Income Tax Predation Excel Based Software All in One for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25

Exemptions under section 10 of the Income Tax Act | Income Tax Section 10 of the I,.T Act, 1961  described tax benefits to a salaried person. This section is displayed on income that falls under the  exemption category and is not included in the total income for the year.  Therefore, In this article, you will learn about the […]

Standard Deduction Relief – A big relief for salaried taxpayers who will now get Rs 7.5 lakh tax relief under the new tax regime | Auto Calculate Income Tax Preparation Excel Based Software All in One for the West Bengal Govt Employees for the F.Y.2023-24 and A.Y.2024-25

Standard Deduction Relief: From April 2023 onwards, the process of calculating savings and income  tax will start again. Due to the entry into force of the new default tax regime this year, there has been a  lot of interest in this topic. The government has also given tax relief worth Rs 2 Lakh more than under […]

Salary exemption under section 16 of the Income-tax Act, 1961|With Auto Calculate Income Tax Preparation Software in Excel All in One for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25

Salary exemption under Section 16 of the Income-tax Act, 1961 Section 16 of the Income Tax Act,  1961 deals with allowances and deductions on taxable wages. Under Article 16, salaried taxpayers and  pensioners*, regardless of their tax status, can claim deductions from their taxable income. However, The section  For instance, consists of three components – standard deduction under […]

Income Tax Section 80D for Old Tax Regime with automatic computation of U/s 89(1) Income Tax Arrears Relief Calculator with Form 10E for Financial Year 2023-24 and Assessment Year 2024-2024

Income Tax Section 80D for Old Tax Regime | The India Government has given various income tax deductions to facilities to that people to buy health insurance and take care of their health. But if you oft the new tax regime you are not eligible to avail of these benefits. If you choose the old tax regime, you can […]

Which is better between the New and Old Tax Regime for F.Y.2023-24 and A.Y.2024-25? With Auto Calculate Income Tax Preparation Software in Excel for the All Salaried Persons for the F.Y.2023-24 and A.Y.2024-25

Which is better between the New and Old Tax Regime for F.Y.2023-24 and A.Y.2024-25? Now is the  time for many participants; Salaried individuals, in particular, have to choose between opting for the  New Tax Regime or continuing with the Old Tax Regime. Through this article, the author wants to help  them in their decision-making process. Therefore,  There is […]

New income tax regime disallowed deductions |With Auto Calculate Income Tax Preparation Excel Based Software All in One for the Govt and Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25 as per Budget 2023

New income tax regime disallowed deductions| Below is a list of key tax deductions that are claimed  under the current tax regime but not under the new income tax regime: Therefore,  • Exemptions under Section VI-A, ie Section 80C; 80CCC; employee contribution 80CCD; 80D; 80DD; 80DDB; 80E; except under 80EEA, 80CCD(2) and 80JJAA; • Interest on home loans […]

Which is better, the new or old tax regime for salaried employees? With Excel-based automatic income tax preparation software for salaried employees for the financial year 2023-24 and assessment year 2024-25.

Which is better, the new or the old tax regime for salaried employees? Remember the new 2020 tax regime? If you missed it, now might be a good time to revisit it. The Union Budget 2023 re-introduced the new tax regime, making it superior to the existing one. Even if the old tax regime is in place, the incentives […]

Back To Top