This the post is about the Standard Deduction For the Salaried People. The deduction was presented in the financial limit of 2018. Later in 2019, the legislature has upgraded this finding. On account of this finding, the general population who gains month to month pay can guarantee fixed reasoning of Rs.50 thousand from their complete salary. It results in a decrease in assessment obligation. Due to this finding, the annual expense can diminish up to Rs.15,000.

On June 29, 2019 by www.taxexcel.net

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As per the Finance Budget 2019, some Important Income Tax Section and Income Tax Rebate have changed. The Major modification including the Income Tax Slab Rate for the F.Y. 2019-20 is given below.

On May 14, 2019 by www.taxexcel.net

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Budget 2017-18 has been presented in Parliament. The Finance Minister has kept the Personal Income Tax slab rates changed for the Financial Year 2017-18 (Assessment Year 2018-2019). Given below the New Tax Slab for F.Y.2017-18

On October 16, 2017 by www.taxexcel.net

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Claim Tax Benefit for both HRA & Home Loan? – A question which is often asked by many taxpayers. This is mainly because many employers do not allow both tax benefits together in certain situations. Unfortunately, this is NOT the right thing to do.

On June 29, 2017 by www.taxexcel.net

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Finance Bill 2016, has raised to Rs. 5,000/- Under Section 87A. This newly amended section gives rebate up to the maximum of Rs. 5000/- to the assessee having Net Total Income Less than Rs. 5,00,000/-(Rs. Five lacs only). The rebate under this section is available to the resident Individuals w.e.f. A.Y. 2017-18.

“Section 87A An assessee, being an individual resident in India, whose total income does not exceed five Lacs rupees, shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deduction under this chapter i.e. Chapter VIA) on his total income with which he is chargeable for any assessment year, of an amount equal to hundred percent of income-tax or an amount of two thousand rupees, whichever is less.”

Conditions required to be fulfilled:

• ·   The rebate is allowed only to the individual assesses (not to HUF/Firm/AOP/BOI)
• ·                     The individual should be resident in India
• ·            Total income should be up to or less than Rs. 5,00,000/-. Total Income here means Income under all heads of Income (Salary, House property, Business & Profession, Capital Gain and Other sources) after deducting the deduction under chapter VI i.e. deduction from 80C to 80U.
• ·                  No deduction available to the Super Senior Citizens whose age is more than 80 years.
• Quantum of Rebate:
• The rebate will be the lower of
• ·                     100% of the tax payable on Total Income; or
• ·                     Rs. 5,000/-

Download Automatic All in One TDS on Salary for Central & State Govt employees for F.Y.2016-17.

Feature of this Excel Utility :-

1) Prepare automatic your Income Tax Compute Sheet after filling your required data.

2) Easy to calculate the Gross Total Income from the Individual Salary Structure which is prepared as per the Central Govt and All State Govt employees Salary Pattern.

3) Automatic prepare Individual Salary Sheet

4) Automatic Calculate the H.R.A. Exemption Calculation

6) Automatic Prepare the Form 16 Part A&B and Form 16 Part B

7) All the amended Section have in this utility as per Finance Bill 2016

8) Automatic Convert the Amount into the In-Words.

9) You can prepare more than 100 employees Tax Completed Sheet One by One.

On December 03, 2016 by www.taxexcel.net

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The Salary Structure of all Central Govt employees is different from other State Govt employees.Recently the Central Govt has published the 7th Pay Commission and some of the State Govt also published the Pay Commission in the Year 2016 and implemented from the January 2016.

It appears that the Salary Structure and some benefits are different from the other State Govt employees. Some of the benefits can get the Central Govt employee which is not got by the State Govt employees.

In this regard, the below given Excel Based Income Tax Preparation Software can be used by the both of Central Govt employees and other State Govt employees also. The Salary Structure has made as per the Central & State Govt employees. Like as the Central Govt employees can avail the extra D.A. on the Travelling/Conveyance allowances, but the other State Govt employees could not get the same benefits.

Feature of this Excel Utility :-

• This Excel Utility can use for Central and State Govt Employees
• The Salary Structure has prepared as per the Central & State Employees Salary Pattern
• Automated Calculate your Income Tax with Individual Tax Compute sheet for both of Central and State Employee
• Inbuilt the Salary Individual Salary Structure for Central & State employees
• Automatic Calculate the House Rent Exemption Calculation U/s 10(13A)
• Automated Prepare the Form 16 Part A&B
• Automated Prepare the Form 16 Part B
• Automatic Convert the amount into the in Words without any excel formula.

Download the All in One Income Tax Preparation Software for Central & State Govt employees for the Financial Year 2016-17 & Assessment Year 2017-18. [Prepare at a time Tax Compute Sheet + Individual Salary Structure + Individual Salary Sheet + Automatic H.R.A. Exemption Calculation + Automatic Form 16 Part A&B and Form 16 Part B ]

In this Excel, Utility has all the amended Income Tax Section as per the Finance Budget 2016.

On September 14, 2016 by www.taxexcel.net

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The income tax slab of 2016 -17 is same as earlier. However, the middle class will get the  tax benefit of Rs 3000. Almost 1 crore people will enjoy this tax benefit. The budget 2016 did not change the income tax slab. The tax relief is given through the rebate.

On March 08, 2016 by www.taxexcel.net

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