Most of the Govt or Non Govt Concerned have need to issue the Form 16 in the middle time of any Financial Year, when any employee can opt out from his Present Service or from his present Concerned, and than it would be need as well as Issue the Form 16 (Partly) to the Op tout employee as his proof of Income.
In this regard this Excel Based Automated Form 16 may help to prepare Form 16. This Excel Based Automatic Form 16 have all the New Income Tax Feature as per the New Central Finance Budget along with the New Income Tax Slab.
The Finance Minister had placed union Budget 2014-15 by rising Tax Exemption Limit
for Salaried Class Employee From 2,00,000/- to 2,50,000/- below the age of 60
years and the Sr.Citizen they can get more 50 thousand extra benefits as the
Tax Slab for the Above 60 and Below 80 Years are up to Rs. 3,00,000/- and the
Most Sr.Citizen as the same as before by Rs. 50000/-
You can get the Income Tax Benefits from the Income Tax
Section 80 C, in this Finance Budget a new Item has introduce in 80 C is Kissan
Vikas Patra (K.V.P) and also Enhance the Maximum limit of P.P.F. up to Rs. 1,50,000/-
PPF
Rating: *****
The PPF is an all-time favorite investment
option and the Budget has only made it more attractive by enhancing the annual
investment limit to Rs 1.5 lakh. The PPF offers investors a lot of flexibility.
You can open an account in a post office branch or a bank. The maximum
investment of Rs1.5 lakh in a year can be done as a lump sum or as installments
on any working day of the year. Just make sure you invest the minimum Rs 500 in
your PPF account
ELSS funds
Rating: *****
Equity-linked saving schemes (ELSS) have the
shortest lock-in period of three years among all the tax-saving options under
Section 80C. But this should not be the most important reason for investing in
this avenue. Being equity funds, these schemes can generate good returns for
investors over the long term. The minimum investment in ELSS funds is very low.
Though regular equity mutual funds have a minimum investment of Rs 5,000, you
can put
Ulips
Rating: ****
The 2010 guidelines have made Ulips more
customer-friendly. A new online Ulip launched by HDFC Life charges only 1.35
per cent for fund management. There is no other charge except for the risk
cover provided by the policy. This makes the click2invest policy even cheaper
than direct mutual funds. Keep in mind that a Ulip yields good results only if
held for at least 10-12 years
Bank FDs and NSCs
Rating: ***
Don't get misled by the high interest rates
offered on the 5-year bank fixed deposits. Interest income is fully taxable so
the post-tax yield may not be as high as you think. In the 20 per cent and 30
per cent income tax brackets, it is not as attractive as the yield of the
tax-free PPF.
Life Insurance plans
Rating: **
Though the Irda guidelines for traditional plans
have made insurance policies more customer-friendly, they are still the worst
way to save tax. The tax saving is only meant to reduce the cost of insurance.
It is not the core objective of the policy.
Pension plans
Rating: *
The charges of pension plans offered by life
insurers are significantly higher than those of the NPS. The difference can
snowball into a wide gap over the long term. The other problem is that annuity
income is still
not tax-free, which makes pension plans rather unattractive for retirees.
