Useful Tax-Saving Tips for Financial Year 2020-21 as per New and Old Tax Regime U/s 115 BAC


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





New Income Tax Regime U/s 115 BAC With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for F.Y.2020-21


New Income Tax Regime U/s 115 BAC With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for F.Y.2020-21

A country happily anticipated, for the Finance Minister, a Nari to enable. Enable the white middle class, facilitate the weight on Income Tax, and offer something to cheer the working class. What’s more, Presto! Loan costs have been amended. The interest was to change tax pieces, and So be it, it





Standard deduction u/s 16(ia) is not allowed to the New Tax Regime U/s 115 BAC for the F.Y.2020-21  – With Auto Calculate Income Tax Arrears Relief Calculator U/s 89(1) for the F.Y.2020-21


Standard deduction u/s 16(ia) is not allowed to the New Tax Regime U/s 115 BAC for the F.Y.2020-21 – With Auto Calculate Income Tax Arrears Relief Calculator U/s 89(1) for the F.Y.2020-21

Standard Deduction U/s 16(ia) first introduced in Budget from 2018, Advantage of Standard Deduction is just for Salaried Individuals. [This Standard Deduction is not allowed to the New Tax Regime U/ 115 BAC for the F.Y.2020-21, who are opt in the New Tax Regime but who are opt in the





Income Tax Allowances and Deductions Allowed to Salaried Individuals With Automated Income Tax Preparation Excel Based Software All in One for the Govt & Private Employees for F.Y.2020-21 as per New and Old Tax Regime.


Income Tax Allowances and Deductions Allowed to Salaried Individuals With Automated Income Tax Preparation Excel Based Software All in One for the Govt & Private Employees for F.Y.2020-21 as per New and Old Tax Regime.

Salaried representatives form the major piece of the overall taxpayers in the nation and the commitment they make to the tax assortment is very significant. Annual tax deductions offer a gamut of chances for saving tax for the salaried class. With the assistance of these deductions and exclusions and, one





Deduction U/s 16 with Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2020-21


Deduction U/s 16 with Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2020-21

The income chargeable under the head “Salaries” is registered after making the following deductions under Section 16: 1.         Standard Deduction; 2.         Entertainment Allowance Deduction; and 3.         Professional Tax. 1. Standard Deduction [Sec. 16(i)/(ia)] – •           Standard deduction is Rs. 50,000; or •           the Amount of Salary, Whichever is lower. 2.





Section 24 (B) : All About Deductions From Home Loan With Automated Income Tax Preparation Excel Based Software All in One for the West Bengal Govt Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC.


Section 24 (B) : All About Deductions From Home Loan With Automated Income Tax Preparation Excel Based Software All in One for the West Bengal Govt Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC.

 Possessing a home can be considered as one of the most desirable wishes for the greater part of us. In any case, given the soaring costs of houses in the metros and even in Level II urban communities, it has become increasingly hard for individuals to afford it. Therefore, the





How to Fix On Salary and New Tax Slabs U/s 115 BAC? Described of the Income Tax Department + Automated Tax Software All in One for Govt and Private Employees for the F.Y.2020-21


How to Fix On Salary and New Tax Slabs U/s 115 BAC? Described of the Income Tax Department + Automated Tax Software All in One for Govt and Private Employees for the F.Y.2020-21

The new Income Tax slab has come into power in the nation from 1 April 2020. The new tax slab rates have been kept discretionary by the administration. On the off chance that a taxpayer is benefiting more from the old slab, he can document it. The Income Tax Division





Difference between New and Old Tax Regime U/s 115 BAC for F.Y.2020-21


Difference between New and Old Tax Regime U/s 115 BAC for F.Y.2020-21

Financial plan 2020 has presented the new tax regime for F.Y 2020-21 notwithstanding the old tax regime. F.Y 2020-21 onwards the taxpayer can pick the best tax regime dependent on the tax-sparing potential, reasonableness, and quick needs. This article covers 1.         Rates of taxes and Tax Chunks Examination 2.         Availability





Old -Vs – New Tax Regime U/s 115 BAC – Which Is Better? With Automated Income Tax Preparation Excel Based Software All in One for the Govt and Private Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC


Old -Vs – New Tax Regime U/s 115 BAC – Which Is Better? With Automated Income Tax Preparation Excel Based Software All in One for the Govt and Private Employees for the F.Y.2020-21 as per New and Old Tax Regime U/s 115 BAC

The exceptions and deductions are not applicable here. This being said, the new tax system has its own benefits and negative marks. The primary valid statement about the new system is that it is not totally replacing the old or a rather current system. The administration is not forcing the





Tax Section 80C – With Automated Income Tax Excel Based Software All in One for the Private Employees for the F.Y.2020-21 as per New Section 115 BAC


Tax Section 80C – With Automated Income Tax Excel Based Software All in One for the Private Employees for the F.Y.2020-21 as per New Section 115 BAC

Section 80C explained: Did you realize that Section 80C, under the Income Tax Act 1961, encourages you to lessen the tax trouble by allowing a deduction from the total taxable income in a financial year? Section 80C is a popular decision in the event that you want an answer to





How much Tax you should pay as per New Tax System U/s 115 BAC for the F.Y. 2020-21 With the Automated Income Tax Excel Based Software All in one for the F.Y.2020-21


How much Tax you should pay as per New Tax System U/s 115 BAC for the F.Y. 2020-21 With the Automated Income Tax Excel Based Software All in one for the F.Y.2020-21

All the taxpayers are known that the New Tax System introduced in Budget 2020  U/s 115 BAC For the F.Y.2020-21. In this The system you can choose your option as Old Tax Slab or New Tax Slab U/s 115 BAC. In this regard you must know your Tax that you





Relief under Section 89(1) and Its Importance with Automated Income Tax Arrears Relief Calculator U/s 89(1) from the F.Y.2000-01 to F.Y.2020-21 (Updated Version)


Relief under Section 89(1) and Its Importance with Automated Income Tax Arrears Relief Calculator U/s 89(1) from the F.Y.2000-01 to F.Y.2020-21 (Updated Version)

1.         If you have accrued your salary in a financial year however got it in an alternate year, then Section 89(1) allows you to adjust the salary amount. 2.         Filling of  Form 10E is mandatory in request to claim relief in this case. 3.         The reason behind providing this relief





How to Save Income Tax for the F.Y.2020-21 If you choose the Old Tax Regime U/s 115 BAC for F.Y.2020


How to Save Income Tax for the F.Y.2020-21 If you choose the Old Tax Regime U/s 115 BAC for F.Y.2020

There is a large group of whole legitimate ways of saving tax under the Income Tax Act, 1961. These include tax-saving mutual assets, NPS, insurance expenses, medical insurance and many others. In this article, we spread all the major tax deductions under the Income Tax Act 1. Go through your





Income Tax Exemption U/s 80D + 80DD and 80DDB: Income Tax Deduction For Medical Insurance With Automated Income Tax All in One Value of Perquisite in Excel U/s 17(2)


Income Tax Exemption U/s 80D + 80DD and 80DDB: Income Tax Deduction For Medical Insurance With Automated Income Tax All in One Value of Perquisite in Excel U/s 17(2)

 The Section 80D contains grants a tax deduction on medical insurance charges and medical use. It is granted on the expenses paid for a medical insurance strategy for the taxpayer himself and/or a nearby family member. Section 80D of Income Tax offers a deduction over and above to the deductions





Deduction in respect of interest on deposits in savings account U/s 80TTA With Automated Income Tax Software All in One for the F.Y.2020-21


Deduction in respect of interest on deposits in savings account U/s 80TTA With Automated Income Tax Software All in One for the F.Y.2020-21

Section 80TTA is a deduction available to an Individual and HUF to the maximum of Rs.10,000 /- on the interest income earned from: Saving bank account with a bank From a savings account with a co-operative society carrying on the business of banking From a savings account with a post





Rebate Under Section 87A FY 2020-2021 can get the tax benefits who are opt-in Old Tax Regime U/s 115 BAC With Automated Income Tax Software All in One for F.Y.2020-21


Rebate Under Section 87A FY 2020-2021 can get the tax benefits who are opt-in Old Tax Regime U/s 115 BAC With Automated Income Tax Software All in One for F.Y.2020-21

You are eligible to claim tax rebate under this provision if you meet the following conditions: You must be a RESIDENT INDIVIDUAL; and Your Total Income, fewer Deductions, (under Section 80) is equal to or less than Rs 5,00,000. The rebate is limited to Rs 12,500. This means the total





Automated Income Tax Arrears Relief Calculator U/s 89(1) With Form 10E For the F.Y.2020-21 (Amended Version)


Automated Income Tax Arrears Relief Calculator U/s 89(1) With Form 10E For the F.Y.2020-21 (Amended Version)

Did you get any development salary or arrears of salary? In the event that truly, you may be stressed over the tax ramifications of the equivalent. Do I need to pay taxes on the total amount? Shouldn’t something be said about the tax counts of the earlier year, etc? Taxpayers





May Relief to Hither Payees Salaried Persons opting the New Section Section 115BAC Introduced in Budget 2020


May Relief to Hither Payees Salaried Persons opting the New Section Section 115BAC Introduced in Budget 2020

During the Financial plan 2020 speech, the Account Pastor Nirmala Sitharaman reported the inclusion of a new section called 115BAC into the Income Tax Act in the Association Spending plan 2020. Section 115 BAC, successful from FY 2020-21, manages the new and discretionary income tax regime for people and Hindu Unified Families





Download Up to date Arrears Relief Calculator U/s 89(1) with Form 10E From F.Y.2000-01 to F.Y.2020-21, With New Income Tax Section 115 BAC for F.Y.2020-21


Download Up to date Arrears Relief Calculator U/s 89(1) with Form 10E From F.Y.2000-01 to F.Y.2020-21, With New Income Tax Section 115 BAC for F.Y.2020-21

As per the Budget 2020 has introduced a New Income TaxSection 115 BAC for the Financial Year 2020-21, also the CBDT declare A Notification about this New Section that how to calculate your Income Tax under this Section. You can choose your option that you can get the Old Tax





Income Tax Calculation FY 2020-21 – Which Tax Structure to Select? With Automated Income Tax Preparation Excel Based Software All in One for the Non-Govt Employees for F.Y.2020-21


Income Tax Calculation FY 2020-21 – Which Tax Structure to Select? With Automated Income Tax Preparation Excel Based Software All in One for the Non-Govt Employees for F.Y.2020-21

How to do Income Tax Count for FY 2020-21? Which Tax Structure to Choose U/s 115 BAC? According to Financial plan 2020, you can’t claim any tax deduction or exception on the off chance that you intend to pick a new tax structure. Along these lines, as an individual taxpayer





New System for Income Tax in Budget 2020 – If you Opt in Old Tax Regime U/s 115 BAC for F.Y.2020-21 you can get Top 6 Tax Saving For Salaried People With Tax Software All in One for F.Y.2020-21


New System for Income Tax in Budget 2020 – If you Opt in Old Tax Regime U/s 115 BAC for F.Y.2020-21 you can get Top 6 Tax Saving For Salaried People With Tax Software All in One for F.Y.2020-21

In Budget 2020 has introduced a New Tax System New and Old Tax Regime U/s 115 BAC and also allow the taxpayers to opt-in whether they can get the New Tax Regime or Old Tax Regime U/s 115 BAC for the F.Y.2020-21. Those who willing to opt-in the Old Tax Regime they can get





Download Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10 E from the F.Y.2000-01 to F.Y.2020-21 (Updated Version)


Download Automated Income Tax Salary Arrears Relief Calculator U/s 89(1) with Form 10 E from the F.Y.2000-01 to F.Y.2020-21 (Updated Version)

Section 89 comes in picture when salary/annuity or different parts are paid financially past due or advance. As indicated by Section 89, on the off chance that you get salary financially past due or advance in a budgetary year because of which your all-out income for the year expands, which





Tax Exemptions and Deductions you will not get in new income tax regime U/s 115 BAC With Automated Master of Form 16 Part A and B for the F.Y.2020-21 and A.Y.2021-22


Tax Exemptions and Deductions you will not get in new income tax regime U/s 115 BAC With Automated Master of Form 16 Part A and B for the F.Y.2020-21 and A.Y.2021-22

Recent budget proposed a decreased pace of tax for the individuals and HUF’s under Section 115BAC. Under this Section, an alternative has been given to individuals and HUF to pay tax at lower rates, subject to satisfaction of certain conditions. One of the conditions is that individual settling on the diminished pace of





Employees need to inform employers about intention to opt for new tax regime, CBDT circular says


Employees need to inform employers about intention to opt for new tax regime, CBDT circular says

The new income tax regime announced in Budget, give an option to individuals and Hindu Unified Families (HUFs) to be taxed at lower rates on the off chance that they don’t profit determined exclusions and reasoning’s The income tax office on Monday said employees should advise their employers about their expectation to





Difference between New Tax Regime and Old Tax Regime U/s 115 BAC for the F.Y.2020-21 With Automated Income Tax Revised Form 16 Part A and B for the F.Y.2020-21 and A.Y.2021-22


Difference between New Tax Regime and Old Tax Regime U/s 115 BAC for the F.Y.2020-21 With Automated Income Tax Revised Form 16 Part A and B for the F.Y.2020-21 and A.Y.2021-22

When a new tax regime was reported in Money Bill, 2020 people got inquisitive and began calling their specialists to ask what tax regime they ought to pick and what is the new tax regime and is it for everybody or not.  Essentially the new tax regime should apply for





New Income Tax Section 115BAC for the F.Y.2020-21 Should you go for the New Or Old? With Automated Income Tax Preparation Excel Based Software for the Govt and Private Employees for the F.Y.2020-21 with New and Old Tax Regime U/s 115 BAC


New Income Tax Section 115BAC for the F.Y.2020-21 Should you go for the New Or Old? With Automated Income Tax Preparation Excel Based Software for the Govt and Private Employees for the F.Y.2020-21 with New and Old Tax Regime U/s 115 BAC

From F.Y 2020-21, you can decide to pay income tax under an optional new tax regime. As per Income Tax Section 115 BAC, the new tax regime is allowable for people and HUFs. Poor tax slab has no deductions or exclusions is the key element. Arrangements of the new tax





Common Tax Benefits under Section 80C of Income Tax Act 1961 With Automated Income Tax Software All in One for the Non-Govt Employees for the F.Y.2020-21 as per New Section 115 BAC


Common Tax Benefits under Section 80C of Income Tax Act 1961 With Automated Income Tax Software All in One for the Non-Govt Employees for the F.Y.2020-21 as per New Section 115 BAC

Section 80C of Income Tax Act, 1961 discussions about findings of tax. The Section 80C straightforwardly lessens the taxable income due to the section 80C the tax obligation descends definitely. A large portion of the individual appreciates the products of section 80 C straightforwardly or by implication. The greatest refund





Section 115BAC: Features of the new tax regime and its benefits And Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2020-21


Section 115BAC: Features of the new tax regime and its benefits And Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2020-21

People and HUF taxpayers are qualified to choose a new tax regime from F.Y 2020-21. From F.Y 2020-21, you can choose to pay income tax under a discretionary new tax regime. The new tax regime is accessible for people and HUFs with lower tax rates and zero deductions/exceptions. We will





Govt extends deadlines for filing tax returns for the F.Y.2019-20 up to 31st.December-2020, With Automated Income Tax Preparation Excel Based Software All in One for the Govt and Non-Govt(Private) Employees for F.Y.2020-21 with New and Old Tax Regime U/s 115BAC for F.Y.2020-21


Govt extends deadlines for filing tax returns for the F.Y.2019-20 up to 31st.December-2020, With Automated Income Tax Preparation Excel Based Software All in One for the Govt and Non-Govt(Private) Employees for F.Y.2020-21 with New and Old Tax Regime U/s 115BAC for F.Y.2020-21

In the midst of the progressing helpful and economic steps to address the effect of COVID-19, the government has also taken a large number of measures to guarantee that individuals from various strolls of society don’t feel the touch of the lockdown forced because of the pandemic. The government isn’t





Download  and Prepare at a time Tax Computed Sheet as per New and Old Tax Regime  U/s 115BAC + Automated Arrears Relief Calculator U/s 89(1) with Form 10E + Automated Form 16 Part A and B and Part B + Individual Salary Structure + Individual Salary sheet with Tips for House Rent Allowance: A Tax-Saving Lifeline For Salaried Person


Download and Prepare at a time Tax Computed Sheet as per New and Old Tax Regime U/s 115BAC + Automated Arrears Relief Calculator U/s 89(1) with Form 10E + Automated Form 16 Part A and B and Part B + Individual Salary Structure + Individual Salary sheet with Tips for House Rent Allowance: A Tax-Saving Lifeline For Salaried Person

House Rent Allowance (HRA) is generally considered as a part of the salaried persons and is generally added in the salary structure to help the individual to save taxes. House rent allowance conclusion is given under section 10(13A) of the Personal Tax Act as per Rule 2A of the Annual





Auto Income Tax Preparation Excel Based Software All in One for the West Bengal Government Employees for the F.Y.2020-21 With Tax  Exemption for Education Fees Paid U/s 80C – Eligibility


Auto Income Tax Preparation Excel Based Software All in One for the West Bengal Government Employees for the F.Y.2020-21 With Tax Exemption for Education Fees Paid U/s 80C – Eligibility

Deduction for Education Fees Paid u/s 80c. Section 80C of personal expense act permits deduction in respect of numerous payments and ventures made. Section 80C permits a deduction for payment of Instruction Fees paid for the Training of Children. Any person who has paid Training Fees for his Children are





Auto Calculate Income Tax Calculator All in One TDS on Salary for the Government & Non-Government Employees for the F.Y.2020-21 As per New Tax Section 115 BAC in Budget 2020


Auto Calculate Income Tax Calculator All in One TDS on Salary for the Government & Non-Government Employees for the F.Y.2020-21 As per New Tax Section 115 BAC in Budget 2020

The  new income tax system in the name of regime  announced in Budget 2020, give an option to people and Hindu Unified Families (HUFs) to be taxed at lower rates in the event that they don’t benefit indicated exceptions and reasoning’s The CBDT aim to select the new optional tax





Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2020-21 With With NPS Tax Benefits F.Y. 2020-21 Sec.80CCD(1), 80CCD(2) and 80CCD(1B)


Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2020-21 With With NPS Tax Benefits F.Y. 2020-21 Sec.80CCD(1), 80CCD(2) and 80CCD(1B)

Post Budget 2020, what are the NPS Tax Benefits 2020 under Sec.80CCD(1), 80CCD(2) and 80CCD(1B) and particularly on the off chance that you picked the new tax regime? Let us understand the adjustments in detail. Every one of you realizes that during the Budget 2020, the Government presented the new





Automated Income Tax Calculator All in One for the Non-Govt (Private) Employees for the F.Y.2020-21 With New Tax Regime Under Section 115BAC introduced in Union Budget 2020


Automated Income Tax Calculator All in One for the Non-Govt (Private) Employees for the F.Y.2020-21 With New Tax Regime Under Section 115BAC introduced in Union Budget 2020

New tax regime under Section 115BAC The Finance Minister Smt. Nirmala Sitharaman has introduced her second Budget on first February, 2020. A new optional individual tax conspire has been proposed to vide a recently embedded section i.e., 115BAC for the Individuals and HUF.   From the evaluation the year 2021-22 (FY





Automated Income Tax Calculator All in One for the West Bengal Govt. Employees F.Y 2020-21 With New and Old Tax Regime U/s 115BAC in Budget 2020


Automated Income Tax Calculator All in One for the West Bengal Govt. Employees F.Y 2020-21 With New and Old Tax Regime U/s 115BAC in Budget 2020

Anticipating your income tax or figuring your income tax liabilities is by all accounts an exceptionally overwhelming undertaking for huge numbers of us. On the off chance that you had confidence in this legend, without a doubt the Fund Budget 2020 would refute you. Now according to Budget 2020, to



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PRANAB BANNERJE

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About Author

Hi, Welcome to a leading Income Tax and Accounts Providing Web Site merataxplan.com, merataxplan.com Blog is owned and maintained by Pranab Bandyopadhyay. Basic Idea behind Income Tax & it’s to help people in achieving excellence for save tax. Data shows that even urban Indian taxpayers are less aware about Income Tax and importance of financial planning.

I thought to start a blog and write about Articles related to Income Tax, Income Tax News, Income Tax  planning, Income Tax Easy Excel Based Software and other financial Software in Excel like as Gratuity Calculator, Pension Calculator, Central and Various State Employees Accounts Software in Excel that interest me most, and which I feel will help others make better financial decisions about their money with Tax. I have sound knowledge about in MS Excel, MS Access, Visual Basic, C++, JAVA and much more knowledge on the Computer Applications.

If you are seeking professional advice tailored to your situation – I am sure there are  good certified financial professionals doing that but at merataxplan.com we just try to educate people about how to calculate Income Tax.

There are much more products for sale here but all are related to Income tax And Account Software, and merataxplan.com is not affiliated with any agents or brokers, so I can help you sell any Income Tax & Accounts Software in Excel etc.

The purpose of this blog is to spread Taxation s awareness and help people in achieving excellence for Save Tax. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

Hope you find this site useful, in fulfilling your goal towards Income Tax.