Section 115BAC of Income Tax Act New Slab Rates Vs Old Slab Rates Including Automated Income Tax Preparation Excel Based Software All in One for Govt and Private Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC

Picture of 115BAC

I discussing about the section 115 BAC of the Income Tax Act 1961, which has been introduced by the finance act 2020 with effect from the assessment year 2021-22. In the budget for the fiscal year 2021, Finance Minister Nirmala Sitharaman introduced the new income tax rates for taxpayers in India. The finance minister said […]

Employees have to inform their employers must intimate to their Option about New Or Old Tax Regime U / s 115 BAC- with Automated Income Tax Arrears Relief Calculator U / s 89 (1) for the F.Y.2020-21


The CBDT states that the employee can change the option of tax structure while filing the income tax return and the amount of TDS payment will be adjusted accordingly in the CBDT prescribed Form 10-IE given below the Option Form 10-IE is given below. In the old Tax Slab, income up to Rs 2.5 lakh […]

The CBDT has issued a notification approving the exemption of Section 115BAC for F.Y 20-21, including automated income tax preparation excel based software for private employees for F.Y.2020-21

New and Old Tax Regime U/s 115 BAC

CBDT has issued a notice for giving exclusion under section 115 BAC: CBDT has issued a notice No.G.S.R.415E dated.26.06.2020 (Download  Notification) for endorsement of certain exceptions under section 115 (14) of the Income-tax Act, 19 61 of. Appraisal of the license to any salaried individual who has picked the alternative under section 115 BAC (5) […]