Download Excel based – Income Tax Calculator for FY 2018-19 [AY 2019-20]

Income Tax Calculator for FY 2018-19

Excel based Income Tax Calculator for FY 2018-19 – AY 2019-20 Every individual is troubling to get the final amount and unable to play with exemption section like 80C, 80D, 80E, 80DD, 80DDB, 80G, 80TTA. I have never understood the real concept of HRA exemption in my early days when I have started taxation. Also Read:- Credit Card … Read more

Verification of ITR-1&4 further declare that I am making this return in my capacity as!

Verification of ITR-1&5 further declare that I am making this return in my capacity as!

After complete filling of your ITR1, on the last page, a verification portion is required by the Taxpayer. It looks like: First Block of the form by default left filled from the information of your PAN card. The Second Block “I further declare that I am making returns in my capacity as self/representative and I am also … Read more

Complete guide on Income Tax deduction u/s 80C, 80CCD, 80CCC & 80CCG

Income Tax deduction under section 80C, 80CCD, 80CCC & 80CCG

Section “80C” which is the most widely used section of the Income Tax Act and the deductions available, there is various subsection available in this segment. Under this guide, we will understand all about income tax deduction under section 80C, 80CCD, 80CCC & 80CCG. Whether the taxpayer filling there returns in ITR I to V, the … Read more

What is exempt income for reporting purpose in ITR 1?

exempt income for reporting purpose

Every individual or Hindu undivided family (HUF) are worried about taxable income, some of you are not aware of the exempt income option ITR1 under section 10 which was only (for reporting purpose in ITR 1). In this article, we will understand the objectives of the portion exempt income for reporting purposes. Exempt income (for reporting purposes) … Read more

Income tax exemption u/s 80DD – (Medical treatment of dependent)

section 80dd income tax deduction

Under section 80dd income tax deduction act, the taxpayer avails the tax benefit of expenditure made against disabled family member dependent on them. There is a separate slot available in ITR form (changed from FY 2017-18) to enter the amount u/s 80DD. The person is dependent with a disability – What does it mean u/s 80DD. According to … Read more

Highlight key changes under ITR1 from FY 2018-19 (Updated)

understand major changes under ITR1

Filling of an income tax return is always a difficult task for the taxpayer, the income tax department implement some changes in the form to simplify the process for the taxpayer, this article makes you understand major changes under ITR1. You will get a detailed comparison of the new ITR1 and old ITR1. Discloser of Income Details One … Read more