Download Automated All in One TDS on Salary for Govt & Non Govt Employees for FY 2015-16 & AY 2016-17 [ This Excel Utility can prepare at a time your Tax Compute Sheet + HRA Exemption Calculation + Arrears Relief Calculation with Form 10E + Automated Form 16 Part A&B and Part B for FY 2015-16]

Particulars of Employee and Deductor Sheet

Employee's Salary Structure for Govt & Non-Govt Employee

Arrears Relief Calculator with Form 10E

Budget 2015 has been introduced in Parliament. The Finance Minister has kept the Personal Income Tax rates unchanged for the Financial Year 2015 /2016 (Assessment Year 2016-2017).

He has to introduce or extend the Tax Deduction limits Under few Sections of the Income Tax Act.

Let us understand all the important sections and new introduce with respect to ‘Income Tax Deductions 2015′. This list will help you in planning your taxes.

Income Tax Deductions 2015

Section 80c

The maximum tax exemption limit under Section 80C has been retained as Rs 1.5 Lakh only. The various investment avenues under this section are;

• PPF (Public Provident Fund)
• EPF (Employees’ Provident Fund)
• Five year Bank or Post office Tax saving Deposits
• NSC (National Savings Certificates)
• ELSS Mutual Funds (Equity Linked Savings Schemes)
• Kid’s Tuition Fees
• SCSS (Post office Senior Citizen Savings Scheme)
• Principal repayment of Home Loan
• NPS (National Pension System)
• Life Insurance Premium
• Sukanya Samriddhi Account Deposit Scheme

Section 80CCC

Contribution to annuity plan of LIC (Life Insurance Corporation of India) or any other Life Insurance Company for receiving pension from the fund is considered for tax benefit. The maximum allowable Tax deduction under this section is Rs 1.5 Lakh.

Section 80CCD

Employee can contribute to Government notified Pension Schemes (like National Pension Scheme – NPS). The contributions can be upto 10% of the salary (or) Gross Income and Rs 50,000 additional tax benefit u/s 80CCD (1b) is proposed in Budget 2015. In FY 2014-2015, the maximum tax exemption allowed under Section 80CCD is Rs 1 Lakh only. In Financial Year 2015-2016 or Assessment Year (2016-2017), this will be Rs 1.5 Lakh (u/s 80 CCD 1 ) and additional exemption of Rs 50,000 u/s 80CCD (1b) will be allowed. ( To claim this deduction, the employee has to contribute to Govt recognized Pension schemes like NPS)

(10% of salary is applicable for salaried individuals and Gross income is applicable for non-slaried. The definition of Salary is only ‘Dearness Allowance.’ If your employer also contributes to Pension Scheme, the whole contribution amount (10% of salary) can be claimed as tax deduction under Section 80CCD (2). The ceiling limit of 1.5 Lakh u/s 80CCD is not applicable on employer’s contribution.)

Section 80D

Deduction u/s 80D on health insurance premium will be Rs 25,000, increased from Rs 15000. For Senior Citizens it has been increased to Rs 30,000 from the existing Rs 20,000. For very senior citizen above the age of 80 years who are not eligible to take health insurance, deduction is allowed for Rs 30,000 toward medical expenditure.

Section 80DDB

An individual (less than 60 years of age) can claim upto Rs 40,000 for the treatment of specified critical ailments. This can also be claimed on behalf of the dependents. The tax deduction limit under this section for Senior Citizens is proposed as Rs 60,000 and for very Senior Citizens (above 80 years) the limit is Rs 80,000

Section 24 (B)

You can claim upto Rs 2 Lakh as tax deduction on the home loan interest payment. If your property is a let-out one then the entire interest amount can be claimed as tax deduction.

Section 80U

You can claim up to Rs 75,000 (increased from the existing Rs 50,000) for spending  who have up to 80% disability. It is also been Introduce  to increase the limit of deduction from Rs 1 lakh to Rs 1.25 lakh in case of above 80% severe disability.

The other sections are – Section 80E (tax deduction benefit on the interest payment of an education loan), Section 80 G (Donations), Section 80GG (when HRA is not paid by the company but you incur rental expenses) and 100% TAX DEDUCTION on contributions made to SWACHH BHARAT & CLEAN GANGA initiatives have also been proposed.

The above ‘Income Tax Deductions 2015′ are applicable for Financial year 2015-2016 (or Assessment Year 2016-2017).

On December 17, 2015 by www.taxexcel.net

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As per the New Finance Budget 2015 the Tax Slab have not change and the Tax Slab is the same as previous Financial Year 2014-15. Some Changes in this Budget and hike the limit of some Section which is given below :-

1) Travelling Allowances hike up to Rs. 19200/- P.A.

2) U/s 80CC hike the limit Rs. 1.5 Lakh

3) U/s 80U hike the Max Limit Rs. 75,000/- up to 80% and 1,25,000/- above 80% for Phy.disable person.

4) New insert a deduction U/s 80C " Sukanya Samriddhi Account" Max.Limit Rs. 1.5 Lakh. for minor Girl Child.

5) U/s 80D hike the limit up to Rs. 25,000/- for below 60 years age and Rs. 30,000/- for Sr.Citizen

Below given a Excel Based Automated Form 16 Part A&B and Part B with the all changes has incorporate in this Excel Utility as per the New Finance Budget as stated above.

Download the Automated Form 16 Part A&B and Part B for FY 2015-16 and Ass Yr 2016-17 [ This Excel Utility can prepare One by One Form 16 Part A&B and Part B for FY 2015-16]

Feature of this Excel Utility:-

• Automatic prepare the Form 16 Part A&B and Part B both in a single Excel Utility for FY 2015-16
• All the Changes of each Tax Section as per the Budget 2015 has incorporate in this Utility
• You can use this utility as Income Tax Calculator for Assessment Year 2016-17
• In this Excel Utility have this facility to change the Period of Financial Year.                        Automatic Convert the Amount in to the In Words 

Main Input Sheet

                                                          Form 16 Part A&B

                                                      Form 16 Part B

Some of the Concerned have need to prepare the Form 16 in the middle of the Financial Year 2015-16. If any employee change his present Concerned and join to another Concerned, the Form 16 must be given to the employee as he is entitled to get the Form 16 for his previous Concerned.So the Form 16 may prepare by the deductor of the  previous Concerned. In this Excel Utility have this facility to change the Period of Financial Year.

On August 07, 2015 by www.taxexcel.net

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Download All in One for Govt and Non Govt Employees for FY 2015-16 and Assess Yr 2016-17 [ This Excel Utility can prepare at a time Tax Compute sheet + Automatic HRA Calculation+ Arrears Relief Calculation with Form10E + Automatic Form 16 part A&B and Part B for FY 2015-16 as per Budget 2015-16]

Section 87A after Budget 2015

The existence of section 87A after budget 2014, since there were no words on the section 87A in the budget, many of our readers are eager to know whether the section 87A still exists or faded away like section 80EE.??

There is good news for all assessees who are getting benefited by section 87A because it will continue to give benefit this year also. Since section 87A is neither withdrawn nor was it for a particular year like section 80EE, so it still holds the ground. Even the Online Tax Calculator present on the Income Tax Site also calculates tax after taking tax rebate u/s 87A into account.

Thus assessee having gross total income between Rs.2.5 lakh to Rs.5 lakh are still able to reduce their tax liability by Rs 2,000. Essentially, there is NIL tax liability for annual incomes up to Rs.2.70 lakh. Calculate your Income tax by this Excel Based Income Tax Preparation Software for the Financial Year 2014-15

Click here to download the All in One Income Tax Calculator for Non-Govt Employees for the Financial Year 2015-16 (Prepare at a time Automated Tax Compute Sheet + HRA Calculation + Form 16 Part B and Part A&B for the Private employees for the Financial Year 2014-15 )

On July 28, 2015 by www.taxexcel.net

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As per the Finance Budget 2015 have some changes in the Tax Section and hike the limit of some Section other than the Tax Slab is the same as previous Financial Year 2014-15. 
Main Changes in this Budget and main effect to the Salaried Person for Financial Year 2015-16 as given below

• Section 80D :- Hike the limit up to Rs. 25,000/- for below 60 Years and Rs. 30,000/- for Sr.Citizen.
• Section 80U:- Hike the limit up to Rs. 75000/- for below 60 years and Rs. 1,25,000/- for sever Phy Disable persons.
• Section 80CC :- Hike the limit Rs. 1,50,000/- for Pension Fund
• New Section include in 80C in the name of Sukanya Samriddhi Account which Max limit Rs.1,50,000/- P.A.
• Section 80DDB :- Hike the limit up to Rs. 80,000/-
• U/s 10 Conveyance / Transport Allowances is hike up to Rs. 1600/- P.M. and Ph.Handicapped person can get the double as Rs. 3200 P.M. 

 As per the Finance Budget 2015-16 have prepared the Excel Based All in One Income Tax Preparation Software for Only Private ( Non-Govt ) employees for Financial Year 2015-16.

All in One Income Tax Preparation Excel Based Software for only the Non Govt employees for the Financial Year 2015-16 and Assessment Year 2016-17. This Excel Based Software can prepare at a time your Income Tax Compute Sheet + Automatic House Rent Exemption Calculation + Automated Form 16 Part B and Automated Form 16 Part A&B + Form 12 BA for the Financial Year 2015-16.

This Excel Based Software can use only for the (Private Employees) Non Govt employees. The Salary Structure has prepared as per the Salary Pattern of any Non Govt Concerned which can fit for any Private Concerned Salary Pattern

Feature of this Excel Based Software :-

• Salary Structure for Non Govt Concerned Salary Pattern for Calculating the Gross Salary Income
• Automatic Income Tax Compute for Male/Female/Sr.Ctzn/Most Sr.Ctzn
• All the Income Tax Section have in this Software which perfect calculate as per the Income Tax Rules
• Automatic House Rent Exemption Calculation U/s 10(13A)
• Automatic prepare the Form 16 Part B
• Automatic prepare the Form 16 Part A&B
• Automatic prepare the Form 12 BA ( Certificate for Value of Perquisite)
• Automatic Convert the Amount in to the In Words

Click here to Download the All in One Excel Based Tax Software for Private employees for F.Y.2015-16

On July 17, 2015 by www.taxexcel.net

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Now it is mandatory to download the Salary Certificate Form 16 Part A from the net Income TAX TRACES PORTAL. But the Form 16 Part B must be prepared by the employer from the Financial year 2012-13 Vide notification No 11/2013.

This Excel Based Utility can calculate the Income Tax which can prepare at a time 50 employees Form 16 Part B, and you can prepare more than 500 employees Data Base for the Assessment Year 2016-17. the Salary Sheet will be fit for any Govt and Non Govt concerned Salary Structure.This Utility can also have the 24Q and 26Q  which can easy to submit the Each Quarter ended statement to the NSD.

Feature of this Excel Utility:

• Automatic Calculate at a time 50 employees Form 16 Part B with 24 Q and 26 Q
• Automatic Convert the amount in to the in words
• All New Income Tax Section have in this Utility
• Easy to Save and easy to generate
• You can prepare 24 Q and 26 Q by this Utility. 

Download Automated Master of Form 16 Part B with 24 Q & 26Q for the Financial Year 2015-16 & Ass Year 2016-17 with all latest modification in Income Tax by the Finance Budget 2015-16 [This Excel Utility can prepare at a time 50 employees Form 16 Part B with 24Q & 26Q for FY 2015-16]

On June 26, 2015 by www.taxexcel.net

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Download the All in One TDS on Salary for Govt & Non Govt employees for Financial Year 2015-16 and Assessment Year 2016-17 [ This Excel Based Software can prepare at a time Tax Compute Sheet + Automatic HRA Calculation + Automatic Arrears Relief Calculation with Form 10E + Automatic Form 16 Part A&B and Form 16 Part B for A.Y.2016-17]

 

As per the Central Finance Budget 2015, it is clear that the Tax Slab have not changed, but some of the limit of Tax Section has hike and one more deduction has include U/s 80C in the name of Sukanya Samriddhi Account. 

As the financial Year 2015-16 and Assessment Year 2016-17 is just now started and the Advance Tax will be paid for this financial year very shortly. So it is necessary to calculate your Tax Liability

for the Financial Year 2015-16. 

Most of the tax changes is given below for the Financial Year 2015-16 :-

1. Section 80D is hike the max limit Rs. 25,000/- for below 60 years and Rs.30,000/- for Sr.Ctzn.
2. Section 80U has raised the Max limit Rs. 25,000//-
3. Section 80DDB hike the Max Limit Rs. 80 thousand
4. Section 80 the Travelling Allowances has hike the Max Limit Rs. 19200/- P.A.
5. Section 80CCC has hike the Max Limit Rs. 1.5 Lakh as the previous year's was Rs. 1 Lakh

The taxexcel.net has prepared a Excel Based Advance Tax Calculator for Govt and Non Govt employees for the Financial Year 2015-16 and Assessment Year 2016-17 with the Automated Arrears Calculator with Form 10E since FY 2000-01 to 2015-16 and Automated House Rent Exemption Calculation U/s 10(13A). This Excel Utility can use both are Govt and Non-Govt employees with Salary Structure.

Main Input Sheet

Salary Structure 

Tax Compute Sheet

Arrears Relief Calculator

Download the All in One TDS on Salary for Govt & Non Govt employees for Financial Year 2015-16 and Assessment Year 2016-17 [ This Excel Based Software can prepare at a time Tax Compute Sheet + Automatic HRA Calculation + Automatic Arrears Relief Calculation with Form 10E + Automatic Form 16 Part A&B and Form 16 Part B for A.Y.2016-17]

On June 10, 2015 by www.taxexcel.net

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Download Automated All in One TDS on Salary for Govt & Non Govt Employees for FY 2015-16 & AY 2016-17 [ This Excel Utility can prepare at a time your Tax Compute Sheet + HRA Exemption Calculation + Arrears Relief Calculation with Form 10E + Automated Form 16 Part A&B and Part B for FY 2015-16]

Budget 2015 has been introduced in Parliament. The Finance Minister has kept the Personal Income Tax rates unchanged for the Financial Year 2015 /2016 (Assessment Year 2016-2017).

He has to introduce or extend the Tax Deduction limits Under few Sections of the Income Tax Act.

Let us understand all the important sections and new introduce with respect to ‘Income Tax Deductions 2015′. This list will help you in planning your taxes.

Income Tax Deductions 2015

Section 80c

The maximum tax exemption limit under Section 80C has been retained as Rs 1.5 Lakh only. The various investment avenues under this section are;

• PPF (Public Provident Fund)
• EPF (Employees’ Provident Fund)
• Five year Bank or Post office Tax saving Deposits
• NSC (National Savings Certificates)
• ELSS Mutual Funds (Equity Linked Savings Schemes)
• Kid’s Tuition Fees
• SCSS (Post office Senior Citizen Savings Scheme)
• Principal repayment of Home Loan
• NPS (National Pension System)
• Life Insurance Premium
• Sukanya Samriddhi Account Deposit Scheme

Section 80CCC

Contribution to annuity plan of LIC (Life Insurance Corporation of India) or any other Life Insurance Company for receiving pension from the fund is considered for tax benefit. The maximum allowable Tax deduction under this section is Rs 1.5 Lakh.

Section 80CCD

Employee can contribute to Government notified Pension Schemes (like National Pension Scheme – NPS). The contributions can be upto 10% of the salary (or) Gross Income and Rs 50,000 additional tax benefit u/s 80CCD (1b) is proposed in Budget 2015. In FY 2014-2015, the maximum tax exemption allowed under Section 80CCD is Rs 1 Lakh only. In Financial Year 2015-2016 or Assessment Year (2016-2017), this will be Rs 1.5 Lakh (u/s 80 CCD 1 ) and additional exemption of Rs 50,000 u/s 80CCD (1b) will be allowed. ( To claim this deduction, the employee has to contribute to Govt recognized Pension schemes like NPS)

(10% of salary is applicable for salaried individuals and Gross income is applicable for non-slaried. The definition of Salary is only ‘Dearness Allowance.’ If your employer also contributes to Pension Scheme, the whole contribution amount (10% of salary) can be claimed as tax deduction under Section 80CCD (2). The ceiling limit of 1.5 Lakh u/s 80CCD is not applicable on employer’s contribution.)

Section 80D

Deduction u/s 80D on health insurance premium will be Rs 25,000, increased from Rs 15000. For Senior Citizens it has been increased to Rs 30,000 from the existing Rs 20,000. For very senior citizen above the age of 80 years who are not eligible to take health insurance, deduction is allowed for Rs 30,000 toward medical expenditure.

Section 80DDB

An individual (less than 60 years of age) can claim upto Rs 40,000 for the treatment of specified critical ailments. This can also be claimed on behalf of the dependents. The tax deduction limit under this section for Senior Citizens is proposed as Rs 60,000 and for very Senior Citizens (above 80 years) the limit is Rs 80,000

Section 24 (B)

You can claim upto Rs 2 Lakh as tax deduction on the home loan interest payment. If your property is a let-out one then the entire interest amount can be claimed as tax deduction.

Section 80U

You can claim up to Rs 75,000 (increased from the existing Rs 50,000) for spending  who have up to 80% disability. It is also been Introduce  to increase the limit of deduction from Rs 1 lakh to Rs 1.25 lakh in case of above 80% severe disability.

The other sections are – Section 80E (tax deduction benefit on the interest payment of an education loan), Section 80 G (Donations), Section 80GG (when HRA is not paid by the company but you incur rental expenses) and 100% TAX DEDUCTION on contributions made to SWACHH BHARAT & CLEAN GANGA initiatives have also been proposed.

The above ‘Income Tax Deductions 2015′ are applicable for Financial year 2015-2016 (or Assessment Year 2016-2017).

On May 27, 2015 by www.taxexcel.net

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This Income Tax Calculator All in One which is for Financial Year 2015-16 (FY 15-16) is made with all  modification as per the Finance Budget 2015-16.  The major changes proposed in the budget are below the calculator for reference.

DownloadAll in One Income Tax Calculator for Govt & Non-Govt employees for  AY 2016-17 (Financial Year 2015-16) [ This Excel utility can prepare at a time your Tax Compute Sheet + Salary Structure + Individual Salary Sheet + Automatic HRA Calculation + Automatic Arrears Relief Calculation + Automatic Form 16 Part A&B and Part B for FY 2015-16]

There are no changes in the tax slabs. Previous tax slabs will remain same.

No increase is made in the Section 80C Except the limit of U/S 80CCC has increase up to Rs.1.5 Lakh. But there is more thought out deduction announced in the budget which is deduction of Rs 50,000 if invested in New Pension Scheme or NPS.  It almost works similar to exemption of 80C but can not be clubbed with other investments like PPF, Insurance Premium, ELSS Mutual Funds or even bank FD.  This is a sort of making people having disciplined investment for their pension scheme which is in fact a good move.  It augurs well for both Investors by rewarding them well in their golden years with pension and making investments available for the Nation.

Similarly, Health Insurance premium is increased from earlier 15000 rupees to 25000 and the same is increased from 20,000 to 30,000 in case of senior citizens.  This will augur well for the people who wish to take complete health plan and paying premiums more than 15000 per annum.

For senior citizen who are above 80 years thus not eligible for health insurance, Rs 30,000 deduction is allowed for medical expenditure. Deduction limit of Rs 60,000 on expenditure of specified diseases is enhanced to Rs 80,000 in the case of senior citizens.

Similarly Investments in Sukanya Samriddhi Scheme are eligible for deduction under section 80C of the income-tax and any both principal and interest will be exempted from tax Max Rs. 1.5 Lakh.

The other concession provided during the union budget, which can also be entered in the income tax calculator is transport allowance.  For salaried people, the exemption limit in case of transport allowance is increased from earlier 800 rupees to 1600 rupees per month.

Another Section has increased U/s 80U :- Max Rs. 75,000/- up to 80% and Rs. 1,25,000/- can be avail to the above 80% if Phy.disable persons.

On May 06, 2015 by www.taxexcel.net

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Download Income Tax Calculator for Govt & Non Govt employees for Assessment Year 2016-17 with all amended Tax Limit as per New Finance Budget 2015-16

* No change in tax slabs or minimum taxable limit for the Financial Year 2015-16 and Assessment Year 2016-17

* The transport allowance exemption hiked to Rs 1,600 per month from Rs 800 per month U/s 10

* Limit of deduction of health insurance premium increased from Rs. 15000 to Rs. 25000. For senior citizens limit increased from Rs 20000 to Rs 30000. U/s 80D

* Senior citizens above the age of 80 years, who are not covered by health insurance, to be allowed deduction of Rs 30000 towards medical expenditures.

* Deduction limit of Rs 60000 with respect to specified decease of serious nature enhanced to Rs 80000 in case of senior citizen. U/s 80DDB

*Additional deduction of Rs 25000 allowed for differently abled persons.U/s 80U

*Limit on deduction on account of contribution to a pension fund and the new pension scheme increased from Rs 1 lakh to Rs 1.5 lakh.U/s 80CCC

*Payments to the beneficiaries including interest payment on deposit in Sukanya Samriddhi scheme to be fully exempt. Max Rs.1.5 Lakh U/s 80C

On April 15, 2015 by www.taxexcel.net

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As per the Central Finance Budget 2015, it is clear that the Tax Slab have not changed, but some of the limit of Tax Section has hike and one more deduction has include U/s 80C in the name of Sukanya Samriddhi Account. 

As the financial Year 2015-16 and Assessment Year 2016-17 is just now started and the Advance Tax will be paid for this financial year very shortly. So it is necessary to calculate your Tax Liability

for the Financial Year 2015-16. 

Most of the tax changes is given below for the Financial Year 2015-16 :-

1. Section 80D is hike the max limit Rs. 25,000/- for below 60 years and Rs.30,000/- for Sr.Ctzn.
2. Section 80U has raised the Max limit Rs. 25,000//-
3. Section 80DDB hike the Max Limit Rs. 80 thousand
4. Section 80 the Travelling Allowances has hike the Max Limit Rs. 19200/- P.A.
5. Section 80CCC has hike the Max Limit Rs. 1.5 Lakh as the previous year's was Rs. 1 Lakh

The taxexcel.net has prepared a Excel Based Advance Tax Calculator for Govt and Non Govt employees for the Financial Year 2015-16 and Assessment Year 2016-17 with the Automated Arrears Calculator with Form 10E since FY 2000-01 to 2015-16 and Automated House Rent Exemption Calculation U/s 10(13A). This Excel Utility can use both are Govt and Non-Govt employees with Salary Structure.

Main Input Sheet

Salary Structure 

Tax Compute Sheet

Arrears Relief Calculator

Download the Excel Based Tax Calculator for FY 2015-16

On April 09, 2015 by www.taxexcel.net

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