Taxexcel: Income Tax Form 16 for F.Y.2016-17

Showing posts with label Income Tax Form 16 for F.Y.2016-17. Show all posts

Saturday 15 October 2016

Download the Automated One by One Preparation Form 16 Part A & B & Form 16 Part B for Financial Year 2016-17 and Assessment Year 2017-18.[ This Excel Utility can prepare One by One Form 16 Part A&B and Part B ]

This Excel Based utility can prepare One by One Form 16 Part A&B and Part B for F.Y.2016-17. Some of the Concerned have not downloaded the Form 16 Part A from the TRACES Portal, thy can use this Excel Utility.

Feature of this Excel Utility :-

1) Automatic Prepare One by One Form 16 Part A&B and Part B for F.Y.2016-17

2) Most easy to generate this Excel Utility, just like any Excel File

3) You can prepare more than 1000 employees Form 16 Part A&B and Part B by this One Software.

4) Automatic Convert the Amount into the In Word without any Excel Formula

5) All amended Income Tax Section have in this utility as per the Finance Bill 2016-17

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Monday 3 October 2016

If you are a salaried individual enjoying House Rent Allowances (HRA) from your employer and also own a residential house, then you can have an option to avail the deduction of both

(a) HRA Exemption U/s 10(13A) and (b) Housing Loan repayment (section 80C) & interest deduction (section 24).

The Income Tax Act, 1961 (“the Act”) treats HRA and home loan deductions under separate sections independently. The two are not interconnected to each other.

HRA exemption is dealt with in section 10(13A) of the act while home loans are entitled to tax benefits u/s 80C for principal repayment and u/s 24 for interest payment.

Click to download the All in One Income Tax Preparation Excel Based Software for Central & All State Govt employees for F.Y.2016-17 [ This Excel utility can prepare either or Central Govt employees or any State Govt employees Tax computed Sheet + Individual Salary Structure for both of Central & State Employees + Automatic H.R.A. Calculation + Automated Form 16 Part A&B and Form 16 Part B for F.Y.2016-17]

When can you claim both the deductions?

Both the deduction can be claimed if you satisfy any of the following conditions:

1) You should own a house in a city other than your workplace.

2) You own a house in the same city but reside in a rented accommodation for a genuine reason.

3) You can claim deduction U/s 80C for housing loan principal repayment and u/s 24 for interest payment of loan taken for your own house.

HRA exempt under section 10(13A) is monetary perquisite which is paid or allowed by the employer for providing accommodation to the employee. HRA deduction can be claimed for payment of rent for accommodation.

If you are receiving HRA from your employer and reside in your own house, then you can claim the deduction in respect of home loan only. HRA deduction is not available to you.

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