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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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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Automated Income Tax Preparation Excel Based Software All in One for the Govt & Private Employees for the F.Y.2021-22 and A.Y.2022-23 With Tax Savings Tips for the F.Y.2021-22

Tax savings tips to reduce your tax amount for F.Y.2021-22. Tax planning is a part of financial planning although taxes are difficult to avoid, you can efficiently devise strategies to reduce them under two important steps. 1) In order to choose between the old tax (with discount) and the new system (without discount) one has to carefully analyze the comparison between tax outgo and other factors. 2) Inform your employer (so they have to deduct TDS based on your selection)  Tax Saving Tips 1.  Additional tax savings with NPS under Section 80CCD In addition…

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