Filing an Income Tax Return: Are You Choosing a New Income Tax Discipline? Then, there is a new Form 10-IE that you need to fill out. The Central Board of Direct Taxes (CBDT) has issued a notification to the candidates for the new tax discipline for the financial year 2020-21 to fill up a new form.
Filing an Income Tax Return: Are You Choosing a New Income Tax Discipline? Then, there is a new form that you need to fill out. The Central Board of Direct Taxes (CBDT) has issued a notification to the candidates for the new tax discipline for the financial year 2020-21 to fill up a new form. The CBDT has introduced a new form 10-IE for opting for a new or old tax regime in October. You will need to file this form when you file an Income Tax Return (ITR) in case you have opted for the new regime.
You may also, like- Automated Income Tax Form 16 Part B for the F.Y.2020-21[This Excel Utility can prepare at a time 50 Employees Form 16 Part B]
During the Union Budget 2020 speech, Finance Minister Nirmala Sitharaman announced the alternative tax regime. The new tax discipline is flexible and anyone who opts for it will have to anticipate most of the exemptions under Section 80C, 80D, 80TTA under the Income Tax Act for discounting the savings interest rate received from the bank account.
When filing an ITR, a taxpayer is required to take new action, as per the newly inserted section 115 of the Income-tax Act, 1961, through a new Form 10-Y notified by the CBDT.
The new tax system is only available to individuals and Hindu Undivided Families (HUFs). Any salaried person who has no business income can opt for the old or new tax system from FY21 every year. The new government also introduced new tax rates.
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 all amended Income Tax Section as per Budget 2021
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 Non-Govt (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.2021-22
9) Automated Income Tax Revised Form 16 Part B for the F.Y.2021-22
10) Automatic Convert the amount into the in-words without any Excel Formula
