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Saturday, 30 May 2020


Introduce new Section 115BAC in 2020 budget

In the 2020 budget, Finance Minister Nirmala Sitraman announced a new tax system to further reduce tariffs and tax rates. It has long been claimed by most taxpayers, but it took up the issue of removing all available exemptions and exemptions.
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Friday, 29 May 2020



 Under the simple system, it is not possible to claim some concessions and exemption.

In the Budget 2020 has introduced a simple personal tax system to reduce the tendency of income tax income of individuals. This new regime provides an option for individuals to pay taxes at a reduced rate subject to certain discounts and rebates. The following is a quick comparison of tax rates. 
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Tuesday, 26 May 2020


In the latest budget in 2020, the finance minister announced that the limit on tax incentives on interest paid on borrowed funds for self-acquired houses would be increased.
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Tuesday, 19 May 2020


The Income Tax Office states that any employee can change the tax structure at the moment of filing the income tax returns. TDS will be adjusted in the same way The Income Tax Office has a mastermind explanation for all people who need to choose new tax pieces The lower income tax rates, as announced in the 2020 budget, came in April 2020. 
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Monday, 18 May 2020


How to do Income Tax Calculation for FY 2020-21? Which Tax Structure to Choose?

Here is the answer to these inquiries!

According to Budget 2020, you cannot claim any tax deduction or exception if you plan to opt for a new tax structure. Along these lines, as an individual taxpayer if you opt for the new tax regime with lessening tax rate you need to forgo all tax breaks available today. Fortunately, you have the option to proceed with the old tax structure. A salaried individual can switch among old and new tax structure.
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Sunday, 17 May 2020

In chapter VIA of the income tax act, 1961, the most widely used option to save tax is section 80C. This section allows an individual and HUF to save tax by investing in or spend on certain specified avenues. The maximum limit up to which you can claim tax deduction under section 80C is Rs 1,50,000 for the financial year 2018-19 and 2019-20.
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Thursday, 14 May 2020


The CBDT has changed the format of Income Tax Form 16 Part B for the Financial Year 2018-19 since the 12 May  2019. This Format is more explore the employee’s Salary Details.
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