Deduction allowed between New and Old Tax Regimes for the Assessment Year 2024-25 as per the Budget 2023 with Auto Calculate Income Tax Preparation Software in Excel for Government and Non-Government Employees for the A.Y.2024-25
Particulars |
Old Tax Regime |
New Tax Regime |
Standard Deduction [Section 16(ia)] |
Available |
Available |
Available |
Not Available |
|
House Rent Allowance [Section 10(l3A)] |
Available |
Not Available |
Official and personal allowances (other than those as may be prescribed) [Section 10(14)] |
Available |
Not Available |
Allowances to MPs/MLAs [Section 10(17)] |
Available |
Not Available |
Entertainment Allowance [Section 16((ii)] |
Available |
Not Available |
Professional ’l'ax lsection l6(iii)J |
Available |
Not Available |
Interest on housing loan for self-occupied house property [Section 24(b)] |
Available |
Not Available |
Deduction under Sections 8 C to 80U other than specified under Section 80CCD(2), and Section 80CCH(2) [Chapter VI-A] |
Available |
Not Available |
Set-off of any
loss under the head "Income from house property" with any other head of income |
Available |
Not Available |
Exemptions or deductions for allowances or perquisites provided under any other law for the time being in force |
Available |
Not Available |
Features of this Excel Utility:-
1) This
Excel utility prepares and calculates your income tax as per the New Section
115 BAC (New and Old Tax Regime)
2) This
Excel Utility has an option where you can choose your option as a New or Old Tax
Regime
3) This
Excel Utility has a unique Salary Structure for Government and Non-Government
Employees Salary Structure.
4) Automated
Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the
F.Y.2000-01 to F.Y.2023-24 (Update Version)
5) Automated
Income Tax Revised Form 16 Part A&B for the F.Y.2023-24
6) Automated
Income Tax Revised Form 16 Part B for the F.Y.2023-24