How to Compare new Tax Regime v/s old tax Regime on Single Page?
Under the new tax regime tax is payable at lower slab rates on the income up to Rs. 15 lakhs as compared to old regime. Under the new regime tax slabs rates of 5%, 10%, 15%, 20% and 25% are applicable on each successive increase of Rs.
2.50 lakh starting from the basic exemption of Rs.
first fill all the necessary data in Particular income Head.
Once all data
is filled completely then Go to -
TRANSACTION >> Filing Information
>> Form 10IE
Here, Check Mark
on – Applicable Section 115BAC
Once you click
on this Option Highlighted – Compare new tax regime v/s old tax regime, just
click on that button.
Here, it is
shown the comparison for new tax regime v/s old tax regime on Single page.
Hope this helps.
How to select New Tax Regime in Income Tax Software?
Form 10IE To Select New Tax Regime In Budget 2020, taxpayers were given an option to choose between the old and new tax regime. Under the new tax regime, taxpayers have an option to pay lesser tax on the total income. That means taxpayers will not ...
Income Tax Slab Rates for FY 2020-2021 (AY 2021-2022)
What is Income Tax? An income tax is a tax that governments impose on income generated by businesses and individuals within their jurisdiction. By law, taxpayers must file an income tax return annually to determine their tax obligations. Income taxes ...
Income Tax Slab for FY 2020-2021 (AY 2021-2022) in India
Income Tax Slab for Resident Individuals aged less than 60 Years(Both Male & Female) Budget 2020 has given the individuals options to choose from FY 2020-21 onwards. Either to opt for the same tax rates which were applicable in last year or the new ...
TDS - Tax Calculation for Senior Citizens (Assessment Year 2021-22)
TDS - Tax Calculation for Senior Citizens Tax slab 2021-22 (Old tax regime slabs) (who is 60 years or more at any time during the previous year) Net Income Range Rate of Income-tax Assessment Year 2021-22 Assessment Year 2020-21 Up to Rs. 3,00,000 - ...
Calculation of Minimum Alternative Tax (MAT)
Calculation of Minimum Alternative Tax (MAT) Minimum Alternate Tax (MAT) Tax liability as per the MAT provisions are given in Sec 115JB(18.5 % of Book Profits Plus 4 % education cess plus a surcharge if applicable). The tax rate is 15% with effect ...