Include a new section 115 BAC in the 2020 budget for the fiscal year 2022-23. This section 115BAC
contains an option that allows you to continue the old tax regime with all income tax exemptions as of
the financial year 2021-22 and opt for a new tax regime except for all tax exemptions on the income as
in the previous financial year.
As per the budget, a new U/s tax label has been specified under 115BAC which was introduced in the 2020 Budget
.
As per the new Section 115BAC (New Tax Regime), there is no exemption for the elderly in the new tax plan.
Feature of this excel utility:-
1) This excel utility perfectly prepares your income tax according to your U/s 115BAC option.
2) This Excel utility has a completely revamped Income Tax section as per Budget 2022
3) Computerized Income Tax Calculator U/s 89(1) in Form 10E from F.Y.2000-01 to F.Y.2022-23 (updated version)
4) Automatic computation Income Tax Exemption rented house U/s 10(13A).
5) Individual salary structure according to government and private group salary model
6) Individual Pay Sheet
7) Individual tax datasheet
8) Automatic Income Tax Form 16 Part A&B revised for the financial year 2022-23
9) Automatic Income Tax Form 16 Part B revised for the financial year 2022-23
10) Automatically convert quantity
to in words without an excel formula
