In the Budget 2020 introduced a new Section 115 BAC for the F.Y.2020-21. This Section 115BAC have an option that you can stay in the Old Tax System along with all the Income Tax Exemptions as per the F.Y.2019-20 and you can Opt in the New Tax Regime Excluding any Exemptions of Income Tax as the previous F.Y. 2019-20 as clearly mentioned in the Budge 2020 U/s 115BAC.
Watch the V.D.O. that how to calculate your Income Tax As per New Section 115 BAC ( New and Old Tax Regime) This V.D.O.can help you to prepare at a time your Tax Computed Sheet + Automated Income tax Form 16 Part A&B and Part B + Automated Arrears Salary Received Calculation U/s 89(1) and much more in a single file.
As per the Budget the New Tax Slab is given below U/s 115BAC which introduced in the Budget 2020.
Also it is clear that no relaxation to the Senior Citizen in the New Tax Slab as per U/s 115BAC ( New Tax Regime). We Prepared a Unique Income Tax Preparation Excel Based Software only for the Bihar State Govt Employees for the F.Y.2020-21 as per the new Budget 2020 with New and Old Tax Regime U/s 115BAC introduced in the Budget 2020.
Look the V.D.O. and watch which Income Tax Option (New Form U/s 10-IE) can be choose as per New Section 115 BAC introduced in Budget 2020 Financial Year 2020-21 and Assessment Year 2021-22
