Save tax for salaried people Includes automatic income tax preparation software in Excel for government and private employees for F.Y.2021-22

NEW TAX PICTURE AY 21-22

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 delayed and amended returns have been reduced to 3 months. This means that the IT department has to process the returns and send a notice under section 143 (1) by 31st December.  In other words,…

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Budget 2020 has introduced a new section 115BAC income tax law Along with Automated Income Tax Preparation Software All in One in Excel for the F.Y.2021-22

NEW TAX PICTURE AY 21-22

Budget 2020 has introduced a new section 115BAC income tax law, where an individual has the option to choose between the old tax rate and the new tax-deductible rate regardless of the prescribed deduction or deduction. Therefore, To address such questions, the Central Board of Direct Taxes (CBDT) has issued a clarification through Circular No. C1 of 2020 stating that an employer, based on the information received from an individual employee, considers the source tax deduction (TDS) calculation. Should be. The provisions of section 115BAC, as applicable. Section 115BAC of the Income-tax Act The new section 115BAC of…

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How to save income tax For F.Y.2021-22 with automatic income tax preparation software in Excel for Govt and Non-Govt employees for F.Y.2021-22

How to save income tax for F.Y 2021-22. We all want to save as much money as possible if it is legally correct. How to save income tax when saving money for taxpayers is probably one of the most searched phrases. Here are some top options every taxpayer should explore to save income tax: Therefore, Get the maximum benefit of 80C: If you are planning to save income tax, you must get a maximum benefit under 80C (Rs. 1.5 lakh per annum till now). One can freely choose the savings instruments of their choice,…

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Automatic Income Tax Preparation Software All in One in Excel for the Govt and Non-Govt Employees for the F.Y.2021-22| Along with Medical Benefits of Income Tax Section 80 D

80D

Automatic Income Tax Preparation Software All in One in Excel for the F.Y.2021-22 Understanding 80D To address rising medical and hospitalization costs, insurance companies offer a number of health plans. Therefore, To encourage more citizens to insure properly, the Income Tax Act provides various tax exemptions for medical insurance under section 80D. Having adequate medical insurance is essential for a stress-free life. In other words, It provides financial assistance in times of medical emergency. Medical insurance that provides adequate coverage will help you protect yourself from financial crisis during a medical emergency…

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Income Tax Deductions U/S 16 – Standard Deduction, Entertainment Allowance and Professional Tax along with All-State Govt and All Non-Govt Employees Income Tax Preparation Software All in One in Excel for the F.Y.2021-22

NPS

Income Tax Deduction U/s 16 of the Income-tax Act, 1961 Section 16 of the Income-tax Act, 1961 provides deduction from taxable income under the heading ‘Salary’. Therefore, It offers discounts for standard deductions, entertainment allowances and professional taxes. Through this deduction, a salaried taxpayer can reduce his taxable salary income applicable to tax. Furthermore, with the recent revision of the standard deduction, the advantage of this section has been extended to a greater extent. Also, there is no hassle of paying bills for travel and treatment which makes it quite…

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Deduction U/s Section 80: Income tax exemption With Automatic Income Tax Preparation Software All in One for the West Bengal State Employees for the F.Y.2021-22

Income Tax New Slab Rate for F.Y.2022-23

Deduction U/s Section 80: Income tax exemption. It sounds a lot more complicated, but it doesn’t have to be. Therefore, The government has offered many exemptions under various sections of the Income Tax Act which you can take for your benefit. But to do that, you need to understand what multiple sections of the Income Tax Act offers. One of these is section 80 of the Income-tax Act, 1961  The exemption U/s 80 includes so many options like deposited, premium payable, loan repayment etc. These options can significantly reduce your tax…

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Income Tax Deductions U/S 16 – Standard Deduction, Entertainment Allowance and Professional Tax along with All-State Govt and All Non-Govt Employees Income Tax Preparation Software All in One in Excel for the F.Y.2021-22

87a

Income Tax Deduction U/s 16 of the Income-tax Act, 1961 Section 16 of the Income-tax Act, 1961 provides deduction from taxable income under the heading ‘Salary’. Therefore, It offers discounts for standard deductions, entertainment allowances and professional taxes. Through this deduction, a salaried taxpayer can reduce his taxable salary income applicable to tax. Furthermore, with the recent revision of the standard deduction, the advantage of this section has been extended to a greater extent. Also, there is no hassle of paying bills for travel and treatment which makes it quite…

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Income tax deduction under Sec 80 CCD (1B) Along with Automatic Income Tax Preparation Software in Excel for the Government and Non-Government Employees for the F.Y.2021-22

Income Tax New Slab Rate for F.Y.2022-23

Income tax deduction under Sec 80 CCD (1B). According to the rules and regulations of the Income Tax Act 1961, payment of income tax is mandatory for every citizen of India. But that doesn’t mean you have to pay tax on the income you make. In a given financial year. Therefore, there are several provisions under the Income Tax Act that allows you to claim exemptions against certain investments and expenses. Plan your taxes to save your income In other words, by planning your taxes carefully, you can save a significant amount for your taxation obligations and…

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What is tax exemption under section 87A? With Automated Income Tax Preparation Software All in One in Excel for the F.Y.2021-22

What is tax rebate U/s 87 A as per Income Tax Act 1961? The government of a country imposes income tax on its citizens. The tax system for this purpose varies from country to country. In India, the system is progressive, Therefore, which means your income tax liability increases according to your annual income. The higher a person’s income, the higher his share of income tax, and vice versa. In other words, Under this tax system, the government also provides ways to exempt people at the lower end of the income spectrum. Thus,…

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Section 80C Exemptions| With Automated Income Tax Preparation Software In Excel for the All Government and Private Employees for the F.Y.2021-22

Section 80C Exemptions | To persuade citizens to invest in various ways, the government allows  exemptions during the calculation of income tax. Therefore, the most popular ones fall under Section 80C.  Here is a guide.  In other words, A person’s total income is calculated by adding the income he earns from different sources. Excluding names is a specific expense that can be deducted from the total income. However, the main purpose of granting tax exemptions is to reduce a person’s tax liability. In addition, certain discounts are provided to encourage one to save…

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