Tag: Income Tax

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 […]

80EEA deduction for income tax on home loans| With Automated Income Tax preparation Software All in One in Excel for the Govt & Non-Govt Employees for the F.Y.2022-23

80EEA deduction for income tax on home loans| In India, the provision of 80EEA helps first-time home buyers with an additional relaxation facility at the Department of Income Tax. As per Section 80 of the EEA Income Tax Act, any first-time home buyer in India can get an additional tax deduction of up to Rs. […]

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 β€“ 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 […]

Income Tax Preparation software in Excel for the Govt and Non-Govt Employees for the F.Y.2022-23 with Refund of tax under Section 87A

Income Tax Preparation software in Excel with Discount u/s 87A was introduced by the Government of  India in the year 2013-14. 87A discount benefits your tax liability. Rebates under Section 87A can be  claimed if your taxable income does not exceed the predetermined limit for the relevant financial year. You can claim a maximum deduction of Rs 12,500 under […]

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

Section 80U – Check Eligibility, Amount of Deduction, How to Claim, Documents, Definitions, For  F.Y 2022-23 (A.Y 2023-24), Diagnosed Disease Section 80U Exclusion of Disability Section 80U of income tax is deductible for those who are unable to work. This section provides a lump sum exemption for a person with a disability based on the severity […]

GST AAR provides assistance in the field of agroforestry, being education and training for farmers

[ad_1] The Early Decision Authority (AAR) of the State of Karnataka has ruled that services to train and educate farmers in agroforestry through scientific research and knowledge are exempt from goods and services tax. A panel of two MPs, Ravi Prasad and T. Kiran Reddy, sees that the applicants, through their mara-mitras, not only teach […]

New Faceless Estimation Guidelines to Simplify the Schema

[ad_1] The Central Board of Direct Taxes (CBDT) has announced new requirements for the income tax division’s valuation officer to reduce procedural errors and increase the impersonal valuation system for the taxpayer. According to the decision, the evaluation officer (AO) must issue show reason notice to the taxpayer, in the case of which β€œany change […]

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