The Union Finance Minister Nirmala Sitharaman, in her lady Budget discourse on Friday, declared an extra Income Tax finding of Rs 1.5 lakh on reasonable home credits.

According to the proposition, annual citizens will get expense refunds of around Rs 3.5 lakh on home credits of up to Rs 45 lakh obtained upto March 31, 2020.

On July 16, 2019 by www.taxexcel.net

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Click here to Download the Automated Income Tax Form 16 Part B for the Financial Year2018-19 & Assessment Year 2019-20 [This Excel Utility can prepare at a time 50 Employees Form 16 Part B for F.Y. 2018-19]

The Main Feature of this Excel Utility is:-

1) Prepare At a time 50 Employees Form 16 Part B for F.Y. 2018-19

2) After filling the Salary Details Form 16 will be prepared automatically and perfectly as per the Rules by the Income Tax Department.

3) All latest Amended Income Tax Section have in this Excel Utility

4) You are aware when you put any employees salary data double( Mistakly) the Software can prevent the Double Entry of any Employee's

5) Automatic Convert the Amount into the In-Words without any Excel Formula.

6) Easy to install just like as an Excel File and Easy to Generate

7) Save the time to prepare Form 16 Part B One by One of each employee's

On February 13, 2019 by www.taxexcel.net

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Budget 2018 in conjunction with several changes to tax laws additionally introduced a replacement Section 80TTB. per this grownup will claim tax exemption up to Rs 50,000 on interest financial gain from bank/ post workplace fastened deposit, continual deposit or bank account. Also, if a grownup opts to require advantage of Section 80TTB, he cannot claim any tax break u/s 80TTA. Non-senior voters and HUFs aren't eligible for 80TTB exemption. but Non-senior voters will still avail the tax break offered below section 80TTA, wherever interest financial gain up to Rs 10,000 from the bank account is tax exempted.

On February 03, 2019 by www.taxexcel.net

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What are all the Income under the head Salaries in the case of a Salaried Employee (Section 17 of the Income Tax Act 1961)?

• Wages,  fees,  commissions, perquisites, profits in lieu of, or, in addition to salary, the advance of salary, annuity or pension, gratuity,  payments in respect of encashment of leave etc.
• Contributions made by the employer to the account of the employee in a recognized provident fund in excess of 12%   of the salary of the employee, and interest thereof.
• The contribution made by the Central Government or any other employer to the account  of  the  employee  under  the  New  Pension  Scheme
• What are all perquisites that subjected to income tax?
• The value of rent-free accommodation or rent.
• The  amount  of  any  contribution  to  an  approved  superannuation  fund  by  the employer in respect of the assessee, to the extent it exceeds one lakh and fifty thousand rupees
• Prerequisite on Motor car provided by the Employer
• The value of free service provided by the employer in the form of Personal Attendants etc.
• Gas, Electricity, and water for household consumption
• Free or concessional Education
• Interest-free concessional loans
• Travelling and accommodation Expenses paid by Employer for any holiday availed by an employee
• Membership fee, Club expenditure etc
• Any Gifts or transfer of Assets
• Medical reimbursement by the employer subject to certain conditions

Free Download Automated Income Tax Preparation Excel Based Software All in One TDS on Salary for Govt & Non-Govt Employees for Financial Year 2018-19 [ This Excel Utility can prepare at a time your Income Tax Computed Sheet + Automated Salary Sheet + Individual Salary Structure for both of Govt & Non-Govt Concern’s Salary Pattern + Automatic H.R.A. Calculation U/s 10(13A) + Automated Income Tax Arrears Relief Calculation U/s 89(1) with Form 10E from F.Y. 2000-01 to F.Y. 2018-19 + Automated Form 12 BA + Automated Income Tax Form 16 Part A&B + Automated Income Tax Form 16 Part B for Financial Year 2018-19 ]

On January 27, 2019 by www.taxexcel.net

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A lot of us take a home mortgage to buy the dream domestic. but, we rarely recognize the tax advantages associated with the domestic mortgage. on this publish, I will throw mild on domestic mortgage tax advantages. I will additionally cowl 10 less recognized records which aren't recognised to a majority of people.

On December 25, 2018 by www.taxexcel.net

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Section 80D: Income Tax Deduction for A.Y. 2019-20 & F.Y 2018-19 . Section 80D deduction Relevant for Assessment Year  2019-20/Financial Year 2018-19 as proposed by Finance Bill 2018 | Relevant for Assessment Year  2019-20/Financial Year 2018-19 are given below.

On December 14, 2018 by www.taxexcel.net

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Section 80D: Income Tax Deduction for A.Y. 2019-20 & F.Y 2018-19 . Section 80D deduction Relevant for Assessment Year  2019-20/Financial Year 2018-19 as proposed by Finance Bill 2018 | Relevant for Assessment Year  2019-20/Financial Year 2018-19 are given below.

On December 11, 2018 by www.taxexcel.net

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Income Tax exemption is a monetary exemption that reduces the taxable income of an individual. This decreases total taxable income and reduces the amount of income tax you would have otherwise paid. Deduction under chapter VI-A is restricted to Gross total income & this deduction cannot be carried forward. Let us discuss the following deductions covered u/s VI-A

On October 31, 2018 by www.taxexcel.net

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