Category: Automated Income Tax Form 16 Part B

What is Form 16? Download and Prepare at a time 50 Employees Form 16 Part A&B and Part B for the F.Y.2022-23

 What is Form 16? For a salaried employee, Form 16 is the important document required to file an  Income Tax Return (ITR). What is Form 16? Form 16 is a certificate issued under Section 203 of the Income Tax Act, 1961 for withholding tax (TDS) on salary income received during the financial year.  Download and […]

Section 16 of the Income Tax Act 1961| With Automated Income Tax Preparation Software in Excel for the Govt and Non-Govt Employees for the F.Y.2022-23

 Section 16 of the Income-tax Act, 1961 provides for the deduction of taxable income under the head ‘salaries’. Provides deductions for the standard deduction, entertainment allowance and employment tax. With this deduction, an employee can reduce his taxable income from his taxable salary. Therefore, Also, with the recent changes in the standard deduction, the benefit of this section is […]

Is the tax due for one year more than Rs.10,000? You are responsible for paying taxes in advance

 Is the tax due for one year more than Rs.10,000? Where the tax payable by a person exceeds Rs 10,000 after deducting the original TDS it comes into  play. Challan280 has been cleared by the IT department for early payment of taxes. It can be paid  online using the link https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp and click on  Challan no./ITNS 280 tab. Download the Automated […]

What is Section 80TTA? With Automated Income Tax Preparation Software in Excel for the Government and Non-Government Employees for the F.Y.2022-23

Under the Indian Income Tax Act, several deductions are provided to the Indian taxpayer to reduce his tax liability and thus reduce his tax bill. These deductions can be through salary, investment or payment. Therefore, Under Section 80TTA of the Income Tax Act, tax exemption is provided to eligible taxpayers on interest earned in a […]

Housing Loan Interest Deduction – Section 24B | With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for the F.Y.2022-23

 Housing Loan Interest Deduction – Section 24B| Section 24b of the Income Tax Act allows for the  deduction of interest on mortgage loans from taxable income. The said loan must be taken for the  purchase or construction or repair or reconstruction of residential property. Therefore, This deduction is allowed on an accrual basis, not the payment. In other […]

Exemption from House for Rent U/s 10(13A)| With All in One Income Tax Preparation Software in Excel for Government and Non-Government Employees for F.Y.2022-23

 Exemption from House for Rent U/s10(13A)| Often, people have to move to another city to work. In  such cases, they may pay rent for their stay. Organizations often compensate employees for this cost by  paying them rent instead of their basic salary. This is usually part of the salary structure. However,  an HRA qualifies for income tax […]

Section 80 TTB deduction | With Automated Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.2022-23

Section 80 TTB deduction | With Automated Income Tax Preparation Software in Excel for the Non- Govt Employees for the F.Y.2022-23 Section 80 TTB deduction | In Budget 2018, the new Section 80 TTB has been introduced into the Income Tax Act. The new section provides tax exemption to appraisers in place of the existing […]

What is Section 80TTA? With Automated Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.2022-23

What is Section 80TTA? Under the Income Tax Act of India, the Indian taxpayer is granted several deductions to reduce his tax liability and thus reduce his tax expense. These deductions may be based on wages, investments or payments. Therefore, In other words, under section 80TTA of the Income Tax Act, tax credits are available […]

Section 80E deduction of study loan interest | With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2022-23

Section 80E deduction of study loan interest | Section 80E gives you a tax deduction on an “interest  item” charged on a loan taken out for the higher education of an individual valued. Educational credits  earned for higher studies in India or abroad are both eligible for deduction under this section. Therefore, What is Section 80E of Income […]

80GG – deduction on house rent paid| With Automated Income Tax Preparation Software All in One in Excel for the Govt and Non-Govt Employees for the F.Y.2022-23

80GG – deduction on rent paid | 80GG is a deduction under Chapter VI-A of the Income-tax Act, 1961. It was introduced to accommodate persons who do not receive housing assistance, but who pay rent for their accommodation. For example, a person can claim a rent deduction, even if they have not received a mortgage. Therefore, a person […]

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