Tax planning has always been the test of efficiency for people along with being a test of their cunningness such that they can save their taxes in a lawful manner. Here are some of the tips that can help you to plan your taxes for the F.Y. 2017-18 & A.Y. 2018-19.

1) Invest in policies U/S 80C

Policies are a prominent way to save a handful amount of tax. Up to Rs. 1, 50, 000 (A.Y.2018-19) can be saved by way of investing PPF, EPF, Fixed Deposit for 5 years, Pension Plans, etc. as specified u/s 80C, 80CCC and 80CCD.

2) Divide Income to various family members

Avail the basic exemption limit of Rs. 2.5 Lakh (A.Y.2018-19) in the various family members as possible. Prefer senior citizens like parents and women as then can avail higher exemption limit.

3) Contribute to NPS U/S 80CC

NPS stands for New Pension Scheme was has recently been initiated by the Government under which investors can claim a deduction as a have a Tax free NPS return, however, withdrawal under such system is till taxable.

4) The aid of Medical Insurance U/S 80D

A deduction of Rs. 25, 000 is available for people who wish to invest in medical insurance for self. This deduction increases to Rs. 30, 000 when it is done by senior citizens. More about medical insurance deduction

5) Expenditure towards disabled dependent U/S 80DD

When a certain amount is spent inform medical insurance for a disabled dependent, the deduction up to Rs. 75, 000 is available where the disablement is normal in nature. The same can be extended up to 1,25,000 is the disablement is of the severe type. More about deduction u/s 80DD

7) Repayment of Higher Education Loan U/S 80E

When repayment is carried out for higher education loan, the same is also allowed as a deduction and hence can reduce ample amount of tax liability.  More about Deduction 80E: Interest on Loan Taken for Higher Education

·                          Download Automated All in One TDS on Salary for Non-Govt Employees for F.Y.2017-18

·                          Download Automated All in One TDS on Salary for Govt. & Non – Govt. Employees for F.Y.2017-18

·                          Download Automated All in One TDS on Salary for Central & All State Employees for F.Y.2017-18

8) Donate U/s 80G

Donation to charitable trusts and organizations have always been regarded as an auspicious event, therefore, 100% deduction is available in such context. The same rate is also applicable in a situation where contribution is made to a political party.

9) House loan interest U/s 24B

People who are liable to pay house loan interest can also claim deduction up to Rs. 2, 00, 000 (the figure represents the maximum investment limit)

On June 12, 2017 by www.taxexcel.net

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As per the new Finance Budget 2015-16 the some Income Tax Section limit has raised.Given below the all of Income Tax Deduction Under Chapter VI A including the 80C as per the Finance Budget 2015-16.

Here is a unique Income Tax Preparation Excel Based Software which can prepare at a time Tax Compute sheet + Individual Salary Structure + Automatic House Rent Exemption Calculation + Automated Form 16 Part A&B and Form 16 Pat B for the all of State Govt Employees for Financial Year 2015-16.[Click here to Download the Excel Utility]

		DEDUCTIONS UNDER CHAPTER VI A FOR F.Y.2015-16
No.	Section	Particulars	Deduction Limit
1	80C	Deduction in respect of Investment in specifies assets	150000/-
2	80CCC	Deduction in respect of contribution to certain pension funds	150000/-
3	80CCD	Deduction in respect of contribution to pension scheme of Central Govt.	150000/-
4	80CCE	Limit on deduction under sections 80C,80CCC,80CCD(1)	150000/-
5	80D	Deduction in respect of medical insurance premium	Individual:25000/- Senior Citizen:30000/-
6	80DD	Deduction in respect of maintenance including medical treatment of a disabled person	Severe Disability:100000/- Others:60000/-
7	80DDB	Deduction in respect of medical treatment	Individual:60000/- Senior Citizen:80000/-
8	80E	Deduction in respect of interest on loan taken for higher education	Actual Interest
9	80EE	Additional deduction in respect of interest on loan taken for residential house property	Rs. 100000/-
10	80G	Deduction in respect of Donations to Certain Funds, Charitable Institutions	50% or 100%
11	80GG	Deduction in  respect of Rent paid	Lower of the following: i)Actual Rent paid-10%  of the total income ii)25% of total income iii)2000 per month
12	80U	Deductions in the case of a person with disability	Severe Disability:125000/- Others:75000/-
13	80TTA	Deduction in respect of interest on deposits in savings account	Rs.10000
14	87A	Tax Rebate Rs. 2000/- who's taxable income below Rs. 5 Lakh	Rs.2000/-

On January 23, 2016 by www.taxexcel.net

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As per the new Finance Budget 2015-16 the some Income Tax Section limit has raised.Given below the all of Income Tax Deduction Under Chapter VI A including the 80C as per the Finance Budget 2015-16.

Here is a unique Income Tax Preparation Excel Based Software which can prepare at a time Tax Compute sheet + Individual Salary Structure + Automatic House Rent Exemption Calculation + Automated Form 16 Part A&B and Form 16 Pat B for the all of State Govt Employees for Financial Year 2015-16.[Click here to Download the Excel Utility]

		DEDUCTIONS UNDER CHAPTER VI A FOR F.Y.2015-16
No.	Section	Particulars	Deduction Limit
1	80C	Deduction in respect of Investment in specifies assets	150000/-
2	80CCC	Deduction in respect of contribution to certain pension funds	150000/-
3	80CCD	Deduction in respect of contribution to pension scheme of Central Govt.	150000/-
4	80CCE	Limit on deduction under sections 80C,80CCC,80CCD(1)	150000/-
5	80D	Deduction in respect of medical insurance premium	Individual:25000/- Senior Citizen:30000/-
6	80DD	Deduction in respect of maintenance including medical treatment of a disabled person	Severe Disability:100000/- Others:60000/-
7	80DDB	Deduction in respect of medical treatment	Individual:60000/- Senior Citizen:80000/-
8	80E	Deduction in respect of interest on loan taken for higher education	Actual Interest
9	80EE	Additional deduction in respect of interest on loan taken for residential house property	Rs. 100000/-
10	80G	Deduction in respect of Donations to Certain Funds, Charitable Institutions	50% or 100%
11	80GG	Deduction in  respect of Rent paid	Lower of the following: i)Actual Rent paid-10%  of the total income ii)25% of total income iii)2000 per month
12	80U	Deductions in the case of a person with disability	Severe Disability:125000/- Others:75000/-
13	80TTA	Deduction in respect of interest on deposits in savings account	Rs.10000
14	87A	Tax Rebate Rs. 2000/- who's taxable income below Rs. 5 Lakh	Rs.2000/-

On December 16, 2015 by www.taxexcel.net

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Download and prepare at a time 100 employees Form 16 Part B for Financial Year 2014-15 and Assessment Year 2015-16. This Excel Utility Prepare with the all latest amended format of Form 16 which was published by the CBDT in the Financial Year 2013-14. You can easily prepare at a time 100 employees Form 16 Part B. and you can prepare more than 1000 employees Form 16 Part B by this One Excel Utility. 

                                              Main Data Input Sheet

                                                Tax deduction Sheet

                                        Form 16 Part B Amended Format

As per the Finance Budget 2014 the Tax Slab has already hike up to Rs. 2.5 Lakh and the Section 80C also raised 1.5 Lakh. In this Finance Budget Re-lunched the K.V.P in U/s 80C and the House Building Loan Interest U/s 24B also raised up to Rs. 2 Lakh.

The Most popular Section 87A ( Tax Rebate Rs.2,000/-) is also entitled in this Financial Year 2014-15 as per the Circular by the CBDT. The Section 80TTA ( Relief from Tax from the Savings Bank Interest ) also available in this Financial Year. This Master of Form 16 Part B have the all latest Tax Section and New Slab for the Salaried Person.

Feature of this Utility:-

1) This Utility easy to install and easy to generate, just like a Excel File.

2) Prevent the double entry of Name of Employee and Prevent the double entry of PAN Number

3) All the Income Tax Section have in this Utility

4) Automatic Convert the Amount in to the In-Words without any Excel Formula

5) You can prepare more than 1000 employees Form 16 Part B by this One Utility

Download the Master of Form 16 Part B for the Financial Year 2014-15[ Prepare at a time 100 employees Form 16 Part B for FY 2014-15]

On March 27, 2015 by www.taxexcel.net

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Download and prepare at a time 100 employees Form 16 Part B for Financial Year 2014-15 and Assessment Year 2015-16. This Excel Utility Prepare with the all latest amended format of Form 16 which was published by the CBDT in the Financial Year 2013-14. You can easily prepare at a time 100 employees Form 16 Part B. and you can prepare more than 1000 employees Form 16 Part B by this One Excel Utility. 

                                              Main Data Input Sheet

                                                Tax deduction Sheet

                                        Form 16 Part B Amended Format

As per the Finance Budget 2014 the Tax Slab has already hike up to Rs. 2.5 Lakh and the Section 80C also raised 1.5 Lakh. In this Finance Budget Re-lunched the K.V.P in U/s 80C and the House Building Loan Interest U/s 24B also raised up to Rs. 2 Lakh.

The Most popular Section 87A ( Tax Rebate Rs.2,000/-) is also entitled in this Financial Year 2014-15 as per the Circular by the CBDT. The Section 80TTA ( Relief from Tax from the Savings Bank Interest ) also available in this Financial Year. This Master of Form 16 Part B have the all latest Tax Section and New Slab for the Salaried Person.

Feature of this Utility:-

1) This Utility easy to install and easy to generate, just like a Excel File.

2) Prevent the double entry of Name of Employee and Prevent the double entry of PAN Number

3) All the Income Tax Section have in this Utility

4) Automatic Convert the Amount in to the In-Words without any Excel Formula

5) You can prepare more than 1000 employees Form 16 Part B by this One Utility

Download the Master of Form 16 Part B for the Financial Year 2014-15[ Prepare at a time 100 employees Form 16 Part B for FY 2014-15]

On March 04, 2015 by www.taxexcel.net

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The Union budget 2014-15 has been approved in the Parliament recently and these changes are in effect. Soon your companies will start to adjust your tax computation to give effect to these changes. Please note these changes are effective 1st April 2014 – though the budget may have been announced or passed later. The good news is – most of you when your employer will take effect of the changes in the month of August (budget was passed in parliament in the last few days of July), can expect higher payout due to the change in the minimum taxable income which is exempt.

Download Income Tax Preparation Excel Based Software for only West Bengal Govt employees for the Financial Year 2014-15 [ This Excel Utility can prepare at a time Tax Compute sheet + Salary Sheet + Salary Structure as per W.B.Govt employees Salary Pattern + Form 16 Part A&B and Part B]

Today, let us look at Income Tax Slabs for the Financial Year 2014-15 and also of the last financial year.

Note that there is no change in the tax rates, the only change is the increase in the minimum income exemption, up from Rs 2,00,000 to Rs 2,50,000 for this year. No change in Education Cess or Surcharge.

Latest Enhance Section 80C up to Rs. 1.5 Lakh and the House Building Loan Interest U/s 24B has raised up to Rs.2 Lakh. The Most unique that the Tax Rebate Rs.2,000/- U/s 87A will be continue in this Financial Year.

On February 11, 2015 by www.taxexcel.net

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