Form 16 certificate also known as TDS certificate is a financial statement issued by an office of a salaried employee that contains earnings, deductions and “Income Tax" or "I-T” paid to the Government. This Form-16 certificate (TDS Certificate) must be issued to every employee who comes under “Tax Deducted at Source - TDS”, by his / her employer in the end of each financial year.
Showing posts with label Income Tax Form 16 Part B for Assessment Year 2017-18. Show all posts
Showing posts with label Income Tax Form 16 Part B for Assessment Year 2017-18. Show all posts
Sunday 23 July 2017
Tuesday 20 June 2017
Download One by One Preparation Excel Based Income Tax Form - 16 Part A&B and Part - B for the Financial Year 2016-17 and Assessment Year 2017-18.( This Excel Based Software can prepare one by one Form 16 for FY 2016-17 with the all Amended Income Tax section as per the Finance Bill 2016-17)
Feature of this Excel Based Automatic Form 16 Part A&B and Part B :-
1) Automatic Prepare at a time Form 16 Part A&B and Form 16 Part B for F.Y.2016-17
2) All amended Income Tax Section have in this Excel utility as per Finance Bill 2016.
3) You can prepare More Than 100 employees Form 16 as One by One
4) Automatic Calculation the H.R.A. Exemption Calculation U/s 10(13A)
5) Automatic Convert the Amount in to the In-Words
First time individual home buyers can get the tax deduction on interest of the home loan, under newly inserted section 80EE of the Income Tax Act, applicable for the assessment year 2014-15. This is in addition to tax rebate on interest payment of the home loan, under section 24.
Eligibility for 80EE rebate :- Max Rs. 1.5 Lakh as additional deductionof U/s 24B
This rebate on home loan interest is applicable only for home loans satisfying the following conditions:
i. The loan is sanctioned by a financial institution or housing finance company between 1st April 2013 and 31st March 2014.
ii. Loan amount is Rs 25 lakhs or less and cost of residential house is Rs 40 lakhs or less
This should be the only house owned by the taxpayer at the time of sanction.
Maximum deduction limit under 80EE
Up to Rs, 1 lakh can be claimed towards interest payable on the home loan in the financial year 2013-14. If interest payable in this year is less than Rs 1 lakh then the balance can be claimed in the following year.
For instance, if interest payable in FY 2013-14 is Rs 75,000 then tax rebate on remaining Rs 25,000 can be claimed in FY 2014-15.
The amount claimed under 80EE cannot be claimed for tax rebate under any other sections in any year.
How to get 80EE tax benefit
You can either produce a certificate from your lender to the HR and get a deduction on salary TDS or you can deduct the amount from total income while filing income tax return.
Tuesday 6 December 2016
Download One by One Preparation Excel Based Income Tax Form16 Part A&B and Part B for the Financial Year 2016-17 and Assessment Year 2017-18.( This Excel Based Software can prepare one by one Form 16 for FY 2016-17 with the all Amended Income Tax section as per the Finance Bill 2016-17)
Feature of this Excel Based Automatic Form 16 Part A&B and Part B :-
1) Automatic Prepare at a time Form 16 Part A&B and Form 16 Part B for F.Y.2016-17
2) All amended Income Tax Section have in this Excel utility as per Finance Bill 2016.
3) You can prepare More Than 100 employees Form 16 as One by One
4) Automatic Calculation the H.R.A. Exemption Calculation U/s 10(13A)
5) Automatic Convert the Amount in to the In-Words
First time individual home buyers can get the tax deduction on interest of the home loan, under newly inserted section 80EE of the Income Tax Act, applicable for the assessment year 2014-15. This is in addition to tax rebate on interest payment of the home loan, under section 24.
Eligibility for 80EE rebate :- Max Rs. 1.5 Lakh as additional deductionof U/s 24B
This rebate on home loan interest is applicable only for home loans satisfying the following conditions:
i. The loan is sanctioned by a financial institution or housing finance company between 1st April 2013 and 31st March 2014.
ii. Loan amount is Rs 25 lakhs or less and cost of residential house is Rs 40 lakhs or less
This should be the only house owned by the taxpayer at the time of sanction.
Maximum deduction limit under 80EE
Up to Rs, 1 lakh can be claimed towards interest payable on the home loan in the financial year 2013-14. If interest payable in this year is less than Rs 1 lakh then the balance can be claimed in the following year.
For instance, if interest payable in FY 2013-14 is Rs 75,000 then tax rebate on remaining Rs 25,000 can be claimed in FY 2014-15.
The amount claimed under 80EE cannot be claimed for tax rebate under any other sections in any year.
How to get 80EE tax benefit
You can either produce a certificate from your lender to the HR and get a deduction on salary TDS or you can deduct the amount from total income while filing income tax return.
Tuesday 29 March 2016
Insertion of new sections 288A and 288B
34. After section 288 of the Income-tax Act, the following sections shall be inserted, namely:—
Rounding off of income
'288A, (1) Subject to the provisions of sub-section (2), the amount of total income computed in accordance with the foregoing provisions of this Act shall be rounded off to the nearest multiple of ten rupees and for this purpose any part of a rupee consisting of paise shall be ignored and thereafter if such amount is not a multiple of ten, then, if the last figure in that amount is five or more, the amount shall be increased to the next higher amount which is a multiple of ten and if the last figure is less than five, the amount shall be reduced to the next lower amount which is a multiple of ten; and the amount so rounded off Shall be deemed to be the total income of the assessee for the purposes of this Act.
(2) If the total income of the assessee includes earned income chargeable under any head, the adjustment under subsection (1) shall, to the extent possible, be made in computing such earned income and, as to the balance, if any, against any other income; and if there is no earned income, the adjustment shall be made in computing any other income under any head.
Explanation.—In this section, the expression "earned income" has the meaning assigned to it in the Finance Act of the relevant year.
Rounding off of tax etc.
288B. The amount of tax (including tax deductible at source or payable in advance), interest, penalty, fine or any other sum payable, and the amount of refund due, under the provisions of this Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paisa, then, if such part is fifty paisa or more, it shall be increased to one rupee and if such part is less than fifty paisa, it shall be ignored.'
Download One by One Prepare Income Tax Form 16 Part A&B and Part B for Financial Year 2016-17 & Assessment Year 2017-18 [ This Excel Utility can prepare One by One Form 16 Part A&B and Part B for F.Y.2016-17]
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