Download Automatic Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2022-23

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What is Section 89? Download Automatic Arrears Relief Calculator U/s 89(1) with Form 10 E | For the purposes of the Income Tax Law, income tax is levied on the total income earned or received during the previous year by the taxable person. There are cases when past debts are paid to an employee in the current year as salary arrears.  In other words, In this case, the income tax payable by the employee will in this case be higher in the current year. This may be due to a change in…

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Save tax on Income for the A.Y.2023-24| With Automated Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2022-23

Salary Structure

 Save tax on Income for the A.Y.2023-24|For most people, paying income tax at the end of the tax year is a difficult task. Much of the fuss revolves around scheduling insurance, rent, and other receipts in such a way as to result in the lowest tax liability possible. Therefore, Income tax planning doesn’t have to be a difficult task if you carefully consider every aspect of your income. While some of the tax-saving methods are very common, if you are in a higher tax bracket, you can turn to non-traditional methods to maximize…

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How do I file Form 10E for Tax Exemption? With Auto-fill Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2022-23

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How do I file Form 10E for Tax Exemption? How to Fill Out Form 10E – Steps to Fill Out Form 10E for Relief of  Tax Exemption – As a salaried individual, if you receive any payment in advance or in arrears, you may be required to pay tax on the full amount received. Protects you from any excess tax liability due to any delay in receiving income under Section 89(1). In other words, if you receive any part of your salary in arrears, you can claim tax savings under Section 89(1) thereon…

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DOWNLOAD 89(1) ARREARS RELIEF CALCULATOR FROM F.Y.2000-01 TO FY 2022-23

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Download 89(1) Arrears Relief Calculator From F.Y.2000-01 to F.Y.2022-23|If you are in arrears in the 2022-2023 tax year relating to the previous year(s), then your tax liability will be higher due to the arrears, but you know that you can split out your delayed income in the relevant years on a national basis and may avail of an exemption under section 89(1) of the Income Tax Act 1961. The reason for providing this benefit under section 89 is that due to the payment of past due or advance wages received in a given fiscal year, the…

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How to save on salary taxes | With Autofill Income Tax Software All in One in Excel for the Govt. and Non-Govt Employees for the F.Y.2022-23 with Form 10 E

10 E

 How to save on salary taxes | You enter the ninth cloud as your bank balance grows. But you know who else is excited to see their money grow? No, not to mention your family. This is the Department of Income Tax. Whether it’s payroll tax or corporate income, no one likes to give away a portion of their income to the government, not even us. We found something interesting in this and today we shared it with you. So, there are many cool ways to save on taxes on your income. After all, who wouldn’t…

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Default of payment of settlement agreement is not an Operational debt|With Automated Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for F.Y.2022-23

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Ahluwalia Contracts (India) Limited Vs Logix Infratech Private Limited (NCLT Delhi) Default of payment of installment amount as per settlement agreement do not come under the definition of operational debt Hon’ble National Company Law Tribunal (NCLT), New Delhi Bench in Company Petition No. 882/ND/2022 [Ahluwalia Contracts (India) Ltd. (operational creditor/petitioner) VS Logix Infratech Private Limited (Corporate Debtor)], dealt with the following important question whether breach of terms and conditions of the Settlement agreement with operational creditor comes within the purview of operational debt or not ? In present case operational…

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Income tax rebate U/s 87A| With Automated Income Tax Preparation Software All in One in Excel for the Govt & Non-Govt Employees for the F.Y.2022-23

What is the form 16

 Income tax rebate U/s 87A | The Income Tax Act of 1961 allows for several types of tax credits so that taxpayers can reduce their taxable income and therefore their tax liability. Therefore, one such provision under the Income Tax Act is the tax credit permitted under section 87A of the Act. Let’s see what this discount is about – What is the u/s 87A tax credit?  In other words, a tax deduction is a type of discount offered on your tax liability. If your annual income, net of deductions and exemptions, does not exceed INR 5 lakh,…

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Download and prepare 50 or 100 employees at a time Form 16 Parts A and B or Part B for the Fiscal Year 2021-22

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Download and prepare 50 or 100 employees at a time Form 16 Parts A and B or Part B for the Fiscal Year 2021-22 | In the Fiscal Year 2021-22, the location of CBDT Form 16 (Principal Lead Authority for Direct Taxes), which is “TDS Payment Authentication”, has been corrected. the unit is paid to and separated from the delegate, and the full tax benefits of that unit in the region are declared by the taxpayers. Therefore,  However, Pay for TDS authentication on the specified date and after it has happened. CBDT…

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Everything you need to know about form 16|With Automated Income Tax Form 16 for the F.Y.2021-22

Form 16 is a tax or payroll certificate for employees issued by the Department of Income Tax of the Government of India. Therefore, This certificate contains comprehensive information about the employee’s wages, including tax deductions made by the payer or employer in a given financial year. What is Form 16? In other words, Form 16 is essentially a tax certificate or document issued to resident employees of India by the Income Tax Department of the Government of India. A Form 16 document is issued under section 203 of the Income Tax Act 1961. Download and…

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Income tax exemptions under head salary| With Auto Calculate Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2022-23

All in One For AY 2022-23

Income tax exemptions under head salary | Income tax exemption below Rs.2.5 Lakh | Salary-Based Income Tax Exemption Individuals who choose to tax income under the new tax regime will not be able to take advantage of some of the popular exemptions under the Income Tax Act, 1961. For the new tax system U/s 115 BAC Therefore, Section 80C – Rs. 1.50.000/- (For example Insurance, PPF (General Insurance Fund), National Conservation Certificate, etc.) Section 80D – Rs. 25.000-50.000/- (doctor) Standard discount – 50.000 / Discount allowance (LTA) House rental allowance (HRA)…

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