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

New Tax Slab for F.Y. 2020-21

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.

Income Tax Exemption from Home Loan

The greatest refund of Tax is up to Rupees 1.5 Lakh. Directly a person who is under 60 years and his income is Rupees 2.5 lakh or less is excluded from paying tax however through section 80C exceptions can be expanded up to 4 lakhs. Nonetheless, there are a few conditions additionally on section 80C. Exclusions of tax encourage a person to improve his/her monetary status, give motivator to instruction, on putting away cash of various Administrative schemes and so on.

Download  Automated  Revised Income Tax Form16 Part A&B for the F.Y.2019-20 which can prepare at a time 50 employees Form 16 Part A & B in Revised Format for the F.Y.2019-20

Income Tax Revised Form 16

WHAT IS TAX Reasoning?

Tax finding helps in lessening the taxable income; it diminishes your general tax liabilities and encourages you spare tax, in any case, contingent upon the sort of tax derivation your guarantee, the measure of reasoning fluctuates. As it were, one might say that it is subtracting the tax obligation or expanding the exceptions. In any case, these might be dependent upon the limitations of the arrangements of law.

Download Automated Revised Income Tax Form16 Part B for the F.Y.2019-20 which can prepare at a time 50 employees Form 16 Part B in Revised Format for the F.Y.2019-20

Income Tax Revised Form 16


Income Tax Section 80C

•           All kinds of Fortunate Reserve (PF): It incorporates Open Opportune Store (PPF), Deliberate Opportune Store (VPF) and Worker Opportune Reserve (EPF). On fortunate assets there is the exclusion of tax up to Rupees 1.5 lakh on single monetary year.

•           Tax sparing Fix stores: Ventures made under tax sparing fixed stores like 5 years post office time stores, 5 years tax sparing bank stores and so forth are qualified for exploit discount up to Rupees 1.5 lakh under sec 80C of Income Tax Act, 1961.

•           National Annuity Framework: It is a postal sparing scheme. It is of fixed length (5 or 10 years). The speculations done in NPS are qualified for tax exclusions of Rupees 1.5 Lakh under Section 80C, aside from this, one can contribute Rupees 50,000 also under the subsection 80CCD (1B).

•           Sukanya Samridhhi Scheme: It is a significant activity by the legislature under “Beti Bachao Beti Padhao Abhiyan” so the records opened under Sukanya Samridhhi Scheme are absolved from tax under section 80C of Income Tax Act, 1961.

•           Senior Citizenship Sparing Scheme (SCSS): A person over 60 years old can benefit this scheme. Under this scheme, senior residents are absolved from tax up to Rupees 1.5 lakh under Section 80C of the Indian Tax Act,1961.

•           Life Protection Arrangements: Ventures made on disaster protection approaches for you, for your Mate, for your youngsters and so forth are absolved from tax under section 80C of the income tax act, 1961. The most extreme exception is Rupees 1.5 lakh.

•           Education: It is likewise remembered for the section 80C of Income Tax Act, 1961. Higher education costs are excluded from tax. Education costs can be of an individual or his/her kids. As indicated by the income tax act 1961, any sort of educational cost paid for youngsters whether before confirmation or at the hour of affirmation or after confirmation is absolved from tax. The most extreme exception is Rupees 1.5 Lakh. It is considered as one of the most advantageous exclusion as it helps the guardians in setting aside cash and it additionally advances instruction. In any case, gifts are not a ground to profit derivations.

•           Investment for riches Building and Objective: All Value Connected Sparing Scheme (ELSS), Unit Connected Sparing Scheme (ULSS), and so forth can be utilized to benefit section 80C of income tax act 1961. For refunding tax up to Rupees 1.5 Lakh.

•           National Sparing Testament: Ventures made under this remembered for Section 80C of Income Tax Act, 1861.

•           Home advance: Through section 80C of Income Tax Act, 1961 an individual can profit the exception from tax on Home advances. This can give alleviation on paying EMI and so on.

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 2021-22U/s 115BAC

Income Tax Calculator for the Private Employees 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 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 into the in-words without any Excel Formula

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About Author

Hi, Welcome to a leading Income Tax and Accounts Providing Web Site, 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 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 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.