• October 18, 2021
Income Tax Deductions

Tax benefits for F.Y.2021-22 as per Budget 2021. With Automatic Income Tax Preparation Software All in One in Excel for the Non-Govt (PSU) Employees for F.Y.201-22

Tax benefits for the F.Y2021-22 as per Budget 2021. Therefore, Income Tax Reduction for A.Y 2022-23: See the list of tax deductions below that you can claim for various payments, income and investments. The following exemption is available for opting for the Old Tax Regime only. 1. Income from home property  In other words, Exemption from house building loan Interest…

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Income Tax Deductions

Income Tax Planning Salaried Persons for F.Y.2021-22.With Automated Income Tax Preparation Software All in One in Excel for the Govt and Non-Govt Employees for F.Y.2021-22

Income Tax Planning Salaried Persons for F.Y.2021-22.No change in income tax slab or rate has been proposed. Also, no additional tax exemptions or exemptions were introduced. The standard deduction for U/s 16(ia) salaried and pensioners remains the same. Without any change in income tax slab and rate and basic exemption limit. An individual taxpayer will continue to pay taxes at the same…

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GPF

Download Auto-Fill Income Tax Preparation Software All in One in Excel for all State Govt and all Non-Govt Employees for the F.Y 2021-22 (A.Y 2022-23)

Download Auto-Fill Income Tax Preparation Software All in One in Excel for all State Govt and all Non-Govt Employees for the F.Y 2021-22 (A.Y 2022-23)  Every year taxpayers, especially salaried individuals, wait for the budget in the hope that some tax relief, additional tax deductions or income tax slabs will increase to reduce their total tax expense. You…

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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…

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Tax Planning for F.Y.2021-22| With Automated Income Tax Preparation Software In Excel All in One Govt & Non-Govt Employees for the F.Y.2021-22

 Tax Planning for F.Y.2021-22| According to the Finance Act,2020, when a person favours the new tax, no specific exemption (such as Section 80C, Section 80D, Section 80G, etc.) can be claimed under Chapter VI-A of the Act. It may be claimed that only deductions can be made  under sub-section (2) of section 80CCD (notice the pension scheme employer contributes to the employee’s account. You may also,…

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Significant changes in the income tax rules for the financial year 2021-22 | With Income Tax Preparation Software All in One in Excel for all Govt and all Non-Govt Employees for the F.Y.2021-22 as per Budget 2021

Significant changes in the Income Tax Rules for FY 2021-22| The public authority for the most part changes the tax rules during the financial plan introduced in February 2021. Therefore, these changes are successful from the accompanying financial year starting in April. Observe the changes and plan your taxes better. Choosing your tax Regime New of Old In other words, last…

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Taking a home loan can help you save tax| With Automated Income Tax Preparation Excel Based Software All in One for the All Government & Non-Government Employees for F.Y.2021-22

1. Repayment of Principal and 2. Repayment of Interest As the repayment comprises two different components, the tax benefit on a home loan is governed by different sections of the Income Tax Act.  Therefore, the following are the benefits available on loans taken on House Property which can be claimed as deductions in the Income Tax…

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List of different derivations under Section 80C | With Automated Income Tax Preparation Software for all State Govt Employee All in One in Excel for the F.Y.2021-22

List of different exceptions under section 80C. The exception under Section 80C Leaves U/S 80C for  Life Insurance Premium, Commitment to PF, and so forth (Individual/HUF as it were). Discover the  list of personal expense exclusions under section 80C. (A) Makes concessions; (B) A Hindu unified family is dependent upon a limit of one lakh and 50,000 rupees for interest in…

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New Tax Regime vs. Old Tax Regime: Which Is More For You? With Automated Income Tax Revised Form 16 for the F.Y.2020-21 as per U/s 115 BAC

New Tax Regime vs. Old Tax Regime: Which Is More For You? The 2020 budget has brought a number of changes to our tax system. The most significant change was the introduction of a new tax regime. However, this new tax system was optional. However, many taxpayers were still confused about which system they should follow. You may also,…

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Tax benefits of home loan for F.Y2021-22- With Automatic Income Tax Preparation Software All in One in Excel for the Non-Govt (Private) Employees for the F.Y.2021-22 as per Budget 2021.

Tax benefits of home loan for F.Y2021-22. On February 1, 2021, in the Union Budget 2021, Therefore, the government extended for another year an additional 1.5 Lakh tax deduction on interest paid on housing loans for the purchase of affordable housing.  In other words, sorrow recipients can now avail discounts up to Rs.3/5 Lack for another one lakh,…

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