HIGHLIGHTS OF CHANGES IN INCOME TAX RULES FROM FY 2019-20 TO FY 20-21 AS PER NEW SECTION 115 BAC FOR THE F.Y.2020-21
Improved discretionary Individual tax system is presented with lower income tax rates for the persons who are prepared to forgo many tax refunds. 1. Standard Derivation of Rs 50,000 took into account salaried persons/pensioners. ( Who are Opt-in Old Tax Regime only the can get these benefits) 2. Total derivation of Rs 1.5 lakhs permitted […]
Useful Tax-Saving Tips for Financial Year 2020-21 as per New and Old Tax Regime U/s 115 BAC
Saving tax is always at the forefront of each taxpayer’s mind. That is the reason individuals take a gander at legal avenues to bring down their tax liability. Thanks to the Income Tax Act arrangements, there are ways in which an individual tax-payer can bring down his tax outgo. The arrangements accommodate tax deductions and […]
Keep in mind 5 thinks about the new and Old income tax regime U/s 115 BAC With the Auto Calculate Income Tax Preparation Excel Based Software All in One for the Government and Private Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC for the F.Y.2020-21
1) Introduction of a new tax regime in Budget 2020 By now, you probably know the basics of the new income tax regime, but here is a quick recap for you. The new regime comes with reduced tax rates than the current one but without many deductions and exemptions. For instance, if you claim tax […]
Income Tax Exemption of House Rent Allowances With Automated Income Tax House Rent Exemption Calculator U/s 10(13A) in Excel
Salaried representatives structure the major portion of the general taxpayers in the nation and the commitment they make to the tax assortment is very huge. Income tax deductions offer a range of chances for sparing tax for the salaried class. With the assistance of these deductions and exemptions and, one could lessen his/her tax significantly. […]