Type of Tax exemptions/deductions Amount of Tax exemptions/deductions Under 80C 1,50,000 Under section 80CC(1B) 50,000 Under section 80D 25,000 Under 80TTA 5,000 Total tax deductions 2,30,000 So, as per the income tax calculation formula, her total tax deductions for the financial year...
As per the new income tax regime for FY 2023-24 (AY 2024-25), the rebate under Section 87A has been increased from Rs. 5 lakhs to Rs. 7 lakhs. Thus, individuals with a net taxable income of up to Rs. 7 lakh can avail tax rebate u/s 87A under the new tax regime. Those who...
Calculation of Advance Tax for A.Y. 2024-25 Now you can send any document or PDF file via Whatsapp or e-mail from the Print Preview of Reporter Return Forms, 26AS, Acknowledgment, Computation, AIS, and TIS files can be imported/sent through the mail You can Download and Import XML/ ...
Exceptions to the Income Tax Slab What is Advance Tax? Income Tax Return Filing What are the Income Tax Forms? E-filing Income Tax Returns Documents Required to E-file Income Tax Returns Income Tax Calculation 5 Major Income Tax Saving Investments What are the 11 Income Tax Deduction Sect...
The government of India has made some changes to income tax forms that people need to fill out while filing their income tax returns. The new forms are called ITR-1 and ITR-4 and will be used for the assessment year 2024-25. Read PDF The IT department ha
Calculation of income tax Basics of Income Tax Return Income tax in India is charged based on one’s income, more the income more the tax. Tax is on a range of income called the income slabs. There are 5 types of Income. What is Financial Year and Assessment Year, Difference, ITR,Fisc...
On : 26 November 2024 Download Depreciation Calculation in Excel Format On : 28 November 2024 Download GST Bill Tax Invoice in Excel Format On : 25 November 2024 Download Formula Sheet - Corporate & Management Accounting On : 25 November 2024 ...
Learn how to file Income Tax Returns ( ITR ) for FY 2022-23 (AY 2023-24) and FY 2023-24 (AY 2024-25). We covers tax concepts on Salary, interest, Capital Gains, House Property, Business and Profession and GST.
Tax Tribunal Quashes Order Denying CENVAT Credit Due to Defective Show Cause Notice. December 13, 2024 Case Laws Central Excise Appellants' services deemed export, eligible for CENVAT refund, remanded for calculation based on FIRCs. ...
Income Tax calculation example for income tax refund How will the Income Tax refund be paid? It will be deposited in the Primary bank account selected by you. From AY 2015-16, you are required to give details of all Savings and Current Bank Accounts which are operational, out of which, ...