Since
there has been a tremendous increase in the numbers of income tax
return filers in very recent years, the Central Government has embraced
this act of taxpayers, and as a result, in the Finance Bill 2019
introduced or rather I would say enhanced the existing income tax rebate u/s 87A of the I.T Act up to 12500 from the F. Y 2019-20. On the other hand, this decision of the Government has made the middle-class people very much happier as this would leave them richer by Rs 12500 annually.
Showing posts with label 000/- for F.Y. 2019-20. Show all posts
Showing posts with label 000/- for F.Y. 2019-20. Show all posts
Sunday, 27 October 2019
Saturday, 26 October 2019
Tuesday, 22 October 2019
Section 87A provides an income tax rebate to a resident individual having prescribed income. This rebate is also available to senior citizens. However, for a Super Senior Citizens, this deduction becomes irrelevant.
Thursday, 3 October 2019
Thursday, 19 September 2019
Download All in One TDS on Salary for Non-Govt Employees for the Financial Year 2019-2020 and Assessment Year 20120-2021 With H.R.A.Exemption Calculation U/s 10(13A) + Automated Form 12 Ba for f.Y. 2019-20
The feature of this Excel The utility is the following:-
1) This Excel Utility can prepare automatic Tax Calculation as
per new Finance Budget 2019
2) The Salary Structure as per the All of Non-Govt(Private) employee’s
Salary Pattern
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee
5) This Excel Utility calculate your House Rent Exemption
Calculation U/s 10(13A)
6) Automated Income Tax Form 16 Part A&B for F.Y. 2019-20 in
New Format
7) Automated Income Tax Form 16 Part B for the F.Y. 2019-20 in
New Format
8) Automated Form 12 BA
Sunday, 15 September 2019
Tuesday, 10 September 2019
The
Interim Budget presented by the finance minister, Piyush Goyal, on
February 01, 2019, made some major changes to the tax rates applicable to individuals. Effectively, the budget has made net taxable income free of tax up to Rs5 lakhs. But there is a catch here. The tax slabs have not been tinkered with. Instead, the tax on the lowest slab will be given as rebate to the assessee. For example, the Finance Bill envisages
a maximum tax rebate of Rs12,500 under Section 87A of the Income Tax
Act. What needs to be remembered is that these new rates of tax will be applicable from the financial year 2019-20 corresponding to the assessment year 2020-21. Let us understand this issue better as we go through the individual slabs for income tax applicable.
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