Section 80C

The deduction under section 80C is allowed from your Gross Total Income. These are available to an Individual or a HUF. The deduction is allowed for various investments, expenses and payments.

Total Deduction under section 80C, 80CCC and 80CCD(1b) together cannot exceed Rs 1,50,000 for the financial year 2015-16 (assessment year 2016-17).

On January 31, 2016 by www.taxexcel.net

Share It

No Comments

Read More

Download the Excel Based Automated Form 16 for Financial Year 2015-16 & Assessment Year 2016-17 from the below link

Main Feature of this Excel Utility are :-

• Automatic calculate the Form 16 Part A&B and Part B
• Automatic Calculate the Income Tax Liability 
• Automatic Prepare the Form 16 after filling the employees data
• Automatic Convert the Amount in to the In words
• Easy generate the Utility
• Easy install this utility more than One System and work from both System
• All Amended Income Tax Section as per New Finance Budget 2015-16 

1) Download the On by One Prepare Form 16 Part A&B and Part B( Prepare One by One Form 16 Part A&B and Part B for FY 15-16)

2)Download 50 employees Master of Form 16 Part A&B  ( This utility can prepare at a time 50 employees Form 16 Part A&B for FY 2015-16)

3)Download  100 employees Master of Form 16 Part A&B  ( This utility can prepare at a time 100 employees Form 16 Part A&B for FY 2014-15)

4)Download 50 Master of Form 16 Part B( This can prepare at a time 50 employees Form 16 Part B for FY 2015-16)

 5)Download 100 Master of Form 16 Part B( This can prepare at a time 50 employees Form 16 Part B for FY 2015-16)

6) Download the Master of Form 16 Part B with Form 12 BA ( This utility can prepare at a time 50 employees Form 16 Part B with 12 BA for FY 2015-16)

The Income Tax Department have notifies that the the Income Tax Form 16 Part A is now Mandatory to download from the Traces Portal (www.tdscpc.gov.in) by the all of deductors. But most of the deductor have not able to download the Form 16 Part A or they have not well known to how to download the Form 16 Part A from the TRACES Portal. Some of the Deductor yet not known about this new Notification of CBDT. It appears that the most of Deductor have not known that the new format of Form 16 and the Form 16 have in two parts Part A and Part B.Various Govt and Non Govt Concerned could not download the Form 16 Part A from the TRACES Portal. But the Form 16 must be distribute to their employees within this month positively, so they can fill the Income Tax return online or off line.

The Part A of Form 16 have only have the Quarter ended Income Tax deducted and deposited in to the Central Govt Account. and another Part of Form 16 Part B have the Details of employee's Salary with the Tax liability of employee. 

Any employee can view and download the Tax Deducted and Deposited through the view and download the 26A through the TRACES Portal ( www.tdscpc.gov.in). this 26A is like as the Form 16 Part A.  

If you are not able to download the Form 16 Part A you can look the above given some Excel Based Form 16 preparation Software which can prepare both of Form 16 Part A&B and Part B for the financial Year 2013-14 and Assessment Year 2014-15.

On January 11, 2016 by www.taxexcel.net

Share It

No Comments

Read More

The new Financial Year 2015-16 has already start since 1st April 2015 and which will be end of March 2016. All the concerned have already calculate the Income Tax for their employees and also deducted Tax from their Salary  and deposited the same to the Central Govt Account.

      Now it is necessary to prepare and distribute the Form 16 to the concern employee so they can fill the Income Tax Return in due time. As per the Income Tax time schedule it is mandatory to prepare and supply the Form 16 to the employees with April 2016. So you should ready to prepare the Form 16 for the Financial Year 2015-16 and Assessment Year 2016-17.

     As per the CBDT new Notification 11/2013 the format of Form 16 have already changed. In this New Format of Form 16 have two parts. One is Part A and another is Part B. In Form 16 Part A have the all details of Tax deducted and deposited to the Central Govt respective account, and Form 16 Part B have the all details of Salary of employee. It is also Notifies by the CBDT that the Form 16 Part A mandatory from the Income Tax New Web Site TRACES Portal (www.tdscpc.gov.in), and the Part B of Form 16 must be prepare by the Employer. If you have not known that how to Download the Form 16 Part A from the Tracess Portal, CLICK HERE to view "How to Download Form 16 Part A". But most of Concerned have not well known about this new Notification or they can not be able to download the Form 16 Part A from the Tracess Portal. In this regard they have need to prepare both of Form 16 Part A&B both.

Here is given below the Automated Form 16 Part B and Automated Form 16 Part A&B for the Financial Year 2014-15 and Assessment Year 2015-16 which can prepare at a time 50,100 and One by One Form 16 Part A&B and Part B for the Financial Year 2015-16 & Assessment Year 2016-17 with all amended Income Tax Section by the Finance Budget 2015-16.

Feature of this Excel Based Form 16 Preparation Software :-

• This Excel Based Software can prepare more than 1000 employees Form 16 Part B or Part A&B. 
• All the New Income Tax Section have in this Excel Utility. 
• The New Tax Rebate U/s 87A 
•  80TTA for exemption of Savings Bank Interest up to Rs. 10,000/-. 
• Automatic Calculate the Income Tax as per the Slab
• Automatic Prepare the Form 16 Part A&B and Part B both can use Govt and Non-Govt Concerned.
• Automatic convert the Amount in to the In Words ( No need to manually fill the in figure of Amount)
• Some Income Tax Section has already raised by the Finance Budget 2015 and have in this all Excel Utility.

Download the Form 16 preparation Excel Based  Software from the below given link :-

1) Prepare at a time 50 employees Master of Form 16 Part B for FY 2015-16 [ This Excel Utility can prepare at a time 50 employees Form 16 Part B for FY 2015-16] 

Employees Salary Statement

2)Prepare at a time 50 employees Master of Form 16 Part A&B for FY 2015-16 [This Excel Utility can prepare at a time 50 employees Form 16 Part A&B] 

3)Prepare at a time 100 employees Master of Form 16 Part B for FY 2015-16 [ This Excel Utility can prepare at a time 100 employees Form 16 Part B] 

4)Prepare at a time 100 employees Master of Form 16 Part A&B for FY 2015-16 [ This Excel Utility can prepare at a time 100 employees Form 16 Part B]

5) One by One Prepare Automatic Form 16 Part A&B and Part B for F.Y. 2015-16 [This Excel Utility can prepare both Form 16 part A&B and Part B ] 

5)Prepare at a time 50 employees Automatic Form 16 Part B with 12 BA and Part B for F.Y. 2015-16 [This Excel Utility can prepare both Form 16 part B with 12 BA for F.Y. 2015-16 ]

On January 05, 2016 by www.taxexcel.net

Share It

No Comments

Read More

Free Download Automated All in One TDS on Salary for Govt & Non-Govt. Employees for the Financial Year 2015-16 [ This Excel Utility can prepare at a time Tax Compute Sheet + Salary Sheet + Salary Structure + HRA Calculation + Arrears Relief Calculator + Form 10E +Form 16 Part A&B + Part B ]

Income tax department offers HRA tax exemption for those individual tax payer who stays in a rented house. Section 10(13A) of the income tax act allows the exemption of HRA. Employee can claim for HRA exemption if he or she lives in a rented house. To be eligible for claim of HRA deduction, an employee must be paying for the rent to his landlord and maintain the receipts which state that he has been paying for his rental expenditure. If an employee stays in his own house there is no tax deduction on HRA.  

Download HRA Calculator

 

Following points to be considered for Calculation of HRA exemption.

1. Amount equal to 50 percent of Salary where residential house is situated in Mumbai, Delhi, Kolkatta or Chennai or Amount equal to 40 percent of Salary for other places.

2. House Rent Allowance received by the Employee

3.  Excess of Rent paid over 10% of Salary.

Salary includes Basic Salary + Dearness Allowance + Commission on fixed percentage of turnover achieved by an Employee.

Minimum of point no. 1, 2 & 3  is exempted.

For Example,

Basic Salary (Rs 5000/- per month —— Rs. 60, 000/- yearly),
Dearness Allowance (Rs. 1000/- per month —- Rs. 12, 000/- yearly).
Actual Rent Paid (Rs 2000/- per month —— Rs 24000/- yearly),
HRA received by Employee (Rs. 2000/- per month —- Rs. 24, 000/- yearly)
City: Mumbai

1.  50% of  Salary (Basic + DA) = Rs. 36,000/-

2. Rent Received = Rs. 24,000/-

3. Rent paid in excess of 10% of Salary (Basic + DA) =  Rs. 16, 800/-,

Hence, Rs. 16800/- would be exempt and the rest Rs 7,200/- would be included in gross salary for tax calculation.

Documents needed to claim HRA includes rent receipts, rental agreement, PAN details of the landlord.

On December 17, 2015 by www.taxexcel.net

Share It

No Comments

Read More

Click here to Download the Master of Form 16 Part B with 24Q & 26Q for the Financial Year 2015-16 & Assessment Year 2016-17 ( This Excel Based Software can prepare at a time 50 employees Form 16 Part B with 24Q & 26Q[All Quarters] )

As per the Income Tax Rules it is mandatory to submit the each quarter ended Income Tax Return to the Central Govt by the Govt and Non-Govt Concerned of their employees with the Challan 24 Q for Govt and 26Q for Non-Govt Concerned. In the One Financial Year have 4 (four) quarter 1st,2nd,3rd and 4th and final quarter.The CBDT has modified the Challan of 24Q and 26Q and published the new Amended Format of 24Q and 26Q.

Most of the concerned have not prepare and submit the Challan in each quarter and it appears that they have submit only the 27A Challan where not found of each employees salary details as well as TDS deduction of each employees. Now it is Mandatory to submit the 24Q or 26Q by the CBDT in each quarter. The Final and 4th Quarter will be Total Income of the hole financial year of an employees with the details of TDS deduction with Annex A.

It may help if you have already prepare the both of Form 16 Part B and 24Q or 26Q of each quarter for the Financial Year 2015-16 & Assessment Year 2016-17. If it is possible, then your time will be reduce and it will be advance to prepare the Form 16 Part B which can distribute to the employees after 31st Marc 2016. The itaxsoftware.net have prepared an Excel Based Software which can prepare at a time 50 employees Form 16 Part B with 24Q & 26Q ( for all quarters) for the financial year 2015-16 and Assessment Year 2016-17.

Feature of this Utility :-

1) This Excel Based Utility can prepare at a time 50 employees Form 16 Part B

2) Prepare at a time 50 employees All Quarters 24Q & 26Q ( Amended Version) 

3) Prevent the double entry of the Name of Employee and Pan Number

4) Automatic Calculate the Income Tax

5) Automatic Prepare the Form 16 Part B ( Amended Version)

6) Automatic Convert the Amount in to the In Words ( Without any Excel Formula)

7) Easy to install in any Computer 

8) Easy to Generate as this file is simple Excel File

9) Both of Govt and Non-Govt Concerned can be used this utility

10) The Salary Structure have in built, so it will be easy to calculate Tax Liability

Click here to Download the Master of Form 16 Part B with 24Q & 26Q for the Financial Year 2015-16 & Assessment Year 2016-17 ( This Excel Based Software can prepare at a time 50 employees Form 16 Part B with 24Q & 26Q[All Quarters] )

On July 16, 2015 by www.taxexcel.net

Share It

No Comments

Read More