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Showing posts with label Automated Income Tax Calculator for Non-Govt employees for F.Y.2019-20. Show all posts
Showing posts with label Automated Income Tax Calculator for Non-Govt employees for F.Y.2019-20. Show all posts

Friday 25 October 2019


As per the Finance Budget 2019, some Important Income Tax Section and Income Tax Rebate has changed. The Major modification including the Income Tax Slab Rate for the F.Y. 2019-20 is given below.

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.

Wednesday 14 August 2019


The Budget 2019 India: The FM has proposed an extra deduction of Rs 1.5 lakh for the intrigue paid on the home advance for private house property. Be that as it may, there are sure conditions to be satisfied before you can guarantee it.

Tuesday 13 August 2019


In the Union Budget 2019, affordable housing got a further fillip with an increase in Income Tax deduction of Rs 1.5 lakh on home loans.
Finance Minister Nirmala Sitharaman said the interest paid on housing loans is currently allowed as a deduction to the extent of Rs 2 lakh under Section 24 B.