Download Automatic Form 16 Part A&B and Form 16 Part B for the F.Y.2021-22 in Excel | Meaning of Form 16, Form 16A, downloads Form 16 Part B: Form 16 is a key document for an employee, especially if the employer has withheld income tax. Form 16 is essentially a certificate provided by the employer to the employee, which indicates the amount of tax withheld from wages. When an employee files a tax return, Form 16 helps you see how much taxes have already been paid and what still needs to be paid. Employers must…
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Download Automatic Form 16 Part A&B and Form 16 Part B for the F.Y.2021-22 in Excel
Download Automatic Form 16 Part A&B and Form 16 Part B for the F.Y.2021-22 in Excel | Meaning of Form 16, Form 16A, downloads Form 16 Part B: Form 16 is a key document for an employee, especially if the employer has withheld income tax. Form 16 is essentially a certificate provided by the employer to the employee, which indicates the amount of tax withheld from wages. When an employee files a tax return, Form 16 helps you see how much taxes have already been paid and what still needs to be paid. Employers must…
Read MoreHow to save on taxes without investing| With Automated Income Tax Salary Certificate Form 16 for the F.Y.2021-22 in Excel
How to save on taxes without investing| The Department of Income Tax has provided taxpayers with various deductions and exemptions that may be deducted from taxable income under Section 80, Chapter VIA to reduce the tax burden. Among all, there are deductions that are obtained with investments, but there are also some deductions that are obtained without any investment, but with daily expenses. The 80C deductions are the most famous; there are other deductions that can reduce the tax burden on taxpayers even without much savings on tax savings tools. Some of them…
Read MoreHow to get an HRA tax exemption if you work from home? With Automatic Income Tax Form 16 for the F.Y.2021-22
How to get an HRA tax exemption if you work from home? Advantage of HRA income tax for WFH For employees, the rental allowance tax exemption (HRA) is a significant advantage. The HRA comes through a portion of the payroll and can be claimed through resident employees. But in fiscal 2020-21, there are some employees, mostly young people, who live far from the place where they rent and work from home with their parents. But now those same workers are baffled that if they can benefit from HRA even if they live…
Read MoreDownload Excel Based Automated Income Tax Form 16 for the Financial Year 2021-22 | With Investment Options for Tax Savings
Download Excel Based Automated Income Tax Form 16 for the Financial Year 2021-22| Pension Fund This is one of the best investment options to save on taxes. Therefore, The offered interest rate is 8.5% per annum. The fund cannot be withdrawn for 5 years under certain conditions. Employers typically contribute 12% of base and DA. The employee’s contribution is deducted at the rate of Rs. 1.50.000/- pursuant to section 80C of the Income Tax Act 1961. However, the government has amended the Finance Act 2021 to tax contributions paid in excess of Rs. 2.50.000/-.…
Read MoreTax benefits of health insurance premium U/s 80D| With Automatic Income Tax Revised Form 16 Part A&B and Part B for the F.Y.2021-22
Tax benefits of health insurance premium U/s 80D| 1. The conditions required to claim a deduction relating to health insurance or health insurance under this section: Therefore, The deduction is only allowed in this section to one individual or HUF. The deduction is allowed for the following purposes: In the case of an individual: allowed- In other words, The amount paid to provide or maintain the health insurance of the evaluator or members of his family, or his parents, or parents, or Any contribution to the central government health system or another program…
Read MoreAutomatic Income Tax Form 16 salary certificates with defecation of form Revised Form 16 for the financial year 2021-22
Form 16 of the income tax automatic salary certificate for the financial year 2021-22 with defecation of the new revised form 16. The Form 16 certificate, also known as the TDS certificate, is a financial statement issued by a salaried employee’s office that includes earnings, deductions, and “income tax” or “I-T” paid to the government. This Form-16 Certificate (TDS Certificate) must be issued by your employer to each employee covered by “Withholding Tax Deduction – TDS” at the end of each financial year. Therefore, All salaried employees must use the Form 16…
Read MoreIncome tax exemptions for salaried employees F.Y.2022-23 | With Automatic Income Tax Preparation Software All in One in Excel for F.Y.2021-22 And Automatic Income Tax Form 16 for the F.Y.2021-22
Income tax exemptions for salaried employees F.Y. 2022-23 | The Income Tax Act of 1961 provides certain income tax benefits/exemptions for salaried employees. Therefore, these exceptions can help salaried people save a significant portion of their income. Therefore, accordingly, Here is a list of some basic income tax benefits as per Section 10 of the Act. Therefore, In other words, Advantage HRA (HRA) If you rent a house then you can get the benefit of HRA. You can request the following minimum as an exception to HRA: However, Total HRA received: Additionally, 40% of income for…
Read MoreHighlights of Budget 2022 | With Automatic Income Tax Form 16 + Arrears Relief U/S 89(1) + Automatic Income Tax Preparation software All in One in Excel for the F.Y.2021-22
Highlights of Budget 2022. No change latest income tax slab rates for F.Y 2022-23 & A.Y 2023-24 after Budget 2022. There are any changes in the income tax rates applicable to individuals? Let’s see the details. In this post, my focus is to share with you the latest Income Tax Slab Rates and applicable Security Transaction Tax (STT) for FY 2022-23 / the Year 2023-24. Highlights of Budget 2022 #No change in tax slab No change in tax slab # Revised tax filing if you have missed some information If you have…
Read MoreSection 24 exemption from House Building Loan Interest along with Automatic Income Tax Arrears Relief Calculator U/s 89(1) with Form 10 E for the F.Y. 2021-22 and Automatic Income Tax Master of Form 16 Part B for the F.Y.2021-22
Section 24 of the Income Tax Act deals with the interest an individual pays on a home or property loan. Section 24 of the Income Tax Act deals with the interest an individual pays on a home or property loan. The name of this particular section is ‘Domestic Property Income‘. The discounts available are the loan interest and the standard deduction. There are several sections in the income tax law for obtaining the tax deduction on specific investments and expenses. One of the investments under constant legal pressure is the purchase of…
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