Category: Income Tax Software for Salaried Persons

Which is Better-New or Old Tax Regime for the F.Y. 2023-24? With Auto Calculate Income Tax Preparation Software All in One in Excel for the Govt and Non-Govt Employees for the F.Y.2023-27

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chapter Vi A

Introduction The fiscal year 2023-24 presents taxpayers in India with a crucial decision: whether to opt for the new tax regime or stick to the old one. This choice can significantly impact your financial planning and tax liabilities. Therefore, To assist you in making the right decision, we will explore the differences, advantages, and disadvantages of both regimes in easy-to-understand language. New Tax Regime Understanding the New Tax Regime The new tax regime, introduced in 2020, offers lower tax rates but comes with the condition of giving up exemptions and…

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Income Tax Section 80U- A Simple Guide with Auto Calculate Income Tax Preparation Software All in One in Excel for the F.Y.2023-24 and A.Y.2024-25

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Tax Rebate

In a world filled with financial complexities, understanding the intricacies of income tax provisions can be a daunting task for many. However, it’s essential to grasp these concepts to make informed financial decisions. One such provision that can significantly impact taxpayers is Income Tax Section 80U. Therefore, In this article, we will delve into the details of Section 80U in simple English, focusing on its key aspects and implications. For instance, the Table of Contents Introduction to Income Tax Section 80U Eligibility Criteria Quantum of Deduction Medical Certification Requirement Conditions for Claiming Deduction…

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Easy Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E in from the F.Y.2000-01 to F.Y.2023-24

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Income Tax Form 10E

Are you looking for a hassle-free way to calculate your income tax arrears relief under Section 89(1) of the Income Tax Act? Well, you’re in luck! In this comprehensive guide, we will walk you through the process of using Form 10E in Excel, making it easier than ever to determine the relief you’re entitled to. Say goodbye to complex calculations and hello to financial peace of mind. Understanding Income Tax Arrears Relief  Before we dive into the nitty-gritty of using Form 10E in Excel, let’s first understand what income tax arrears relief is all about. Income tax arrears relief,…

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Benefits of Automatic Income Tax Arrears Relief under Section 89(1) with Form 10E for F.Y.2023-24

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Income Tax Form 10E

Introduction In the complex landscape of income taxation, one often comes across situations where they receive arrears or backdated payments. These scenarios can be perplexing, both in terms of understanding the tax implications and managing one’s finances. However, there’s a provision under Section 89(1) of the Income Tax Act that offers a sigh of relief for taxpayers facing such situations. This provision allows for the automatic relief of income tax arrears with the help of Form 10E. In this article, we will delve into the benefits of automatic income tax…

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Income Tax Calculator in Excel All in One with Simplifying Tax Estimations for Government and Non-Government Employees for the F.Y.2023-24

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Tax Rebate

Introduction About Income Tax Standard Deduction Rs. 50000/- U/s 115BASC in the new tax regime| Income Tax Calculator in Excel All in One with Simplifying Tax| Navigating the complexities of income tax calculations can be daunting, especially for employees from both government and non-government sectors. Therefore, Fortunately, Excel comes to the rescue with its user-friendly tools that streamline this process. In this article, we’ll explore how to use an Income Tax Calculator in Excel, focusing on the Income Tax Standard Deduction of Rs. 50000/- U/s 115BASC in the new tax…

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Income Tax Calculator All in One in Excel- Simplifying Tax Estimations with Automatic Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25

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In today’s dynamic financial landscape, managing your income tax has become an integral part of  responsible financial planning. Calculating your income tax can be quite a daunting task, Therefore, considering the ever-evolving tax regulations and complex formulas involved. However, To alleviate this challenge, an Income Tax Calculator All in One in Excel emerges as a powerful tool that empowers individuals and businesses alike to accurately estimate their tax liabilities. In other words, In this comprehensive guide, we delve into the features, benefits, and usage of this invaluable tool, aiming to provide you with a detailed…

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Generate- Calculate- and Simplify- Auto Calculate Income Tax Calculator in Excel All in One for the F.Y.2023-24 and A.Y.2024-25

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New tax regime

Are you tired of spending endless hours manually calculating your income tax? Do you want a hassle-the free solution that simplifies the process and saves you time? Look no further! In this article, Therefore, we’ll guide you through creating an all-in-one income tax calculator in Excel. With just a few simple steps, Above all, you can generate accurate income tax calculations and gain better control over your financial planning. In other words, This Calculator can Generate- Calculate- and Simplify- Auto Calculate Income Tax Calculator in Excel All in One for the F.Y.2023-24 and A.Y.2024-25 Download Excel All…

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Standard deduction from salary and pensions| With Automated Income Tax Preparation Excel-Based Software All in One for the Govt and Non-Govt Employees for the F.Y.2022-23

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Standard deduction from salary and pensions| Accordingly, A standard deduction means a fixed deduction for people who receive wages or retirement income. It was introduced in the 2018 budget in lieu of exemptions from travel expenses and reimbursement of various medical expenses. In the 2021-22 tax year, the default deduction limit is Rs 50,000. In this guide, we’ll cover what deductions are available from a person’s wages and retirement income. Above all, The standard deduction for employees Additionally, Standard Income Tax Deduction – 2019 Provisional Budget After that, The standard deduction replaced travel and medical expenses. This gives…

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Section 80 TTA – Exemption for Savings Interest | With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y.2022-23(Updated Version)

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Section 80 TTA – Exemption for Savings Interest | 80TTA Complete Guide: Definitions, Limits,  Eligibility, Exceptions for the Fiscal Year 2022-23 (A..Y 2023-24 Therefore, A savings bank account is like a digital piggy bank where interest is earned. Most people have savings bank accounts, but most of them are not aware of the taxation of accrued interest on savings accounts. Interest earned from savings accounts is taxed based on income from other sources and interest deduction u/s 80TTA is also allowed. What is the 80TTA section? In other words, Section 80TTA of the…

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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

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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) for refusal of exception. Under the Tax Provision (Revision) Act, 2012, the Income-tax Act, 1991 for lower-obligation options, in accordance with the choices provided to homegrown organizations. So as to exploit the excluded tax framework,…

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