In the Budget 2021 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 2021 U/s 115BAC.
As per the Budget, the New Tax Slab is given below U/s 115BAC which was introduced in 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.
As per the New Income Tax Section 115, BAC was introduced in Budget 2020. As per the Section 115 BAC, you should give your option as you are opt-in as New Tax Regime or Old Tax Regime in the newly prescribed Form 10-IE. If you choose the New Tax Regime you can not avail of this exemption U/s 80 TTA or if you choose the Old Tax Regime then you can avail of this Exemption U/s 80 TTA.
Feature of this Excel Utility:-
1) This Excel Utility Prepare Your Income Tax as per your option U/s 115 BAC perfectly.
2) This Excel Utility has all amended Income Tax Section as per Budget 2020
3) Automated Calculation Income Tax House Rent Exemption U/s 10(13A)
4)
Individual Salary Structure as per the
5) Individual Salary Sheet
6) Individual Tax Computed Sheet
7) Automated Income Tax Revised Form 16 Part A&B for the F.Y.2020-21
8) Automated Income Tax Revised Form 16 Part B for the F.Y.2020-21
9) Automatic Convert the amount in to the in-words without any Excel Formula
