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Showing posts with label Revised New Form 16 Part B for F.Y. 2019-20. Show all posts
Showing posts with label Revised New Form 16 Part B for F.Y. 2019-20. Show all posts

Wednesday, 5 February 2020


Budget 2020 has made the tax structure more complicated by adding three income tax slabs. The removal of tax exemptions and deductions certainly makes compliance less tedious, but avid tax planners who maximised their tax deductions will probably pay more tax under the new tax regime. The budget 2020 has tried to put more money in the hands of taxpayers by curtailing the incentives to save.

Wednesday, 15 January 2020


As per the Finance Budget 2019, some Important Income Tax Section and Income Tax Rebate has changed.
1) Income Tax Slab for the Financial Year 2019-20 is Same as Previous F.Y.2018-19
2) Raised the Income Tax Rebate U/s 87A up to Rs. 12,500/- who's Taxable Income less than 5 Lakh.
3) Raised the Income Tax Standard Deduction U/s16(ia) from Rs. 40,000/- to  50,000/-
4) Raised the Tax Exemption from the Bank/Post Office Savings Interest from 10,000/- to 50,000/-
5) Introduce New Section 80EEA for New Home Loan Interest Rs.1.5 Lakh.

Tuesday, 14 January 2020


As per the Finance Budget 2019, some Important Income Tax Section and Income Tax Rebate has changed.

Friday, 6 December 2019


Tax Sections Description Maximum Tax Exemption Limit (Rs.)180C/ 80CCC/ 80CCD Investment in EPF, ELSS, PPF, FD, NPS, NSC, Pension Plans, Life Insurance, SCSS, SSA and NPS. Also includes Home Loan Principal repayment, Tuition Fees, Stamp Duty.

Tuesday, 3 December 2019


Tax Sections Description Maximum Tax Exemption Limit (Rs.)180C/ 80CCC/ 80CCD Investment in EPF, ELSS, PPF, FD, NPS, NSC, Pension Plans, Life Insurance, SCSS, SSA and NPS. Also includes Home Loan Principal repayment, Tuition Fees, Stamp Duty.