Tax Calculator All in One for the Non-Govt Employees for the F.Y.2020-21 with New Section 115 BAC

New Income Tax Section 115 BAC

Finance Minister Nirmala Sitharaman declared the incorporation of a new section in the Union Budget 2020, known as 115BAC, in the Income Tax Act. Second 115 BAC, successful from FY 2020-21, identifies with the new and discretionary income tax regime for people and Hindu Undivided Families (HUFs).

Therefore, let us comprehend the new slab rate, the qualification measures for the new system and the concessions permitted or dismissed under section 115 BAC. In other words, we will contrast the two frameworks with assistance you pick the more proper one.

What is Section 115 BAC?

In conclusion, section 115 BAC is a newly embedded section in the Income Tax Act, 1961 which ensures the new income tax discipline. Above all, this section and the elective tax discipline were presented in the Union Budget 2020 and are pertinent to people and Hindu Undivided Families (HUFs). In addition, a vital component of this new system is that the rate of income tax slabs has been essentially diminished. Nonetheless, the new rates come at the expense of different fundamental income tax exceptions and discounts, which are as of now accessible under the old (existing) income tax regime. The accompanying table shows the new slab rate as per section 115BAC.

Download Automated Income Tax Preparation Excel Based Software All in One for the Non-Government (Private) Employees for the Financial Year 2020-21 and Assessment Year 2021-22 U/s 115BAC

Income Tax Calculator for F.Y.2020-21
Income Tax Calculator for F.Y.2020-21

Feature of this Excel Utility:-

1) This Excel Utility Prepare Your Income Tax as per your option U/s 115BAC perfectly.

2) This Excel Utility has the all amended Income Tax Section as per Budget 2020

3) Automated Income Tax Form 12 BA

4) Automated Calculation Income Tax House Rent Exemption U/s 10(13A)

5) Individual Salary Structure as per the Non-Govt(Private) Concern’s Salary Pattern

6) Individual Salary Sheet

7) Individual Tax Computed Sheet

8) Automated Income Tax Revised Form 16 Part A&B for the F.Y.2020-21

9) Automated Income Tax Revised Form 16 Part B for the F.Y.2020-21

10) Automatic Convert the amount in to the in-words without any Excel Formula

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