All in One TDS on Salary for Non-Govt employees for FY 2015-16 with Income Tax Deductions 2015 : Budget 2015 / 2016


Download Income Tax Calculator All in One TDS on Salary for Non-Govt Employees for the Financial Year 2015-16 and Ass Yr 2016-17. [ This Excel Utility can prepare at a time Tax Compute Sheet + Individual Salary Structure + Individual Salary Sheet + Automatic HRA Calculation + Automatic Form 16 Part A&B and Form 16 Part B + 12 BA 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).

Check All Salary Deductions for A.Y.2016-17 As per Finance Budget 2015 with automated All in One TDS on Salary for Non-Govt Employees for FY 2015-16 and AY 2016-17


Download Automated All in One TDS on Salary for Non-Govt employees for FY 2015-16 & AY 2016-17 [ This Excel Utility can prepare at a time Tax Compute sheet + Automated HRA Calculation + Automated Form 16 Part A&B and Part B + Form 12 BA]

Brief the tax section with deduction

Traveling Allowance/Conveyance Allowance:-

Raised up to Rs. 1600/- P.M. and Phy. disable persons Rs. 3200/- P.M.

Entertainment  Allowance: 

The first deduction which you claim from salary is Entertainment Allowance. Entertainment allowance received is first included in the employee’s income and then a deduction is allowed in case of government employees, for a sum equal to 1/5th of salary (excluding all allowances, benefits and other perquisites) or Rs. 5,000, whichever is less.

Professional Tax: 

Tax on employment by whatever name called, levied by a State under Article 80C  276 of the Constitution shall be allowed as a deduction. [Sec. 16(iii)]

Payment of Medical Insurance Premiam (Mediclaim) or contribution to Central Government Health Scheme. [Sec. 80D]: 

 Deductible upto a maximum of Rs. 25,000 (Rs. 30,000 in case the person insured is a senior citizen).

Expenditure on medical Treatment etc. and deposit for maintenance of handicapped dependents. [Sec. 80DD]: 

A deduction is allowed to compensate for any expenditure incurred by an assesses, during a year, for the medical treatment (including nursing), training and rehabilitation of one or more handicapped relatives wholly dependent on him, and for amount deposited in an approved scheme of LIC or UTI, for the benefit of a handicapped dependent. A fixed deduction of Rs. 50,000 is allowable, in aggregate for any or both the purpose specified above, irrespective of the actual amount of expenditure incurred.

Expenditure  or Medical Treatment of assess/dependant relative [Sec. 80DDB]:

 Deduction for the amount of expenditure incurred or Rs. 40,000, whichever is less, is allowable for any year during which expenditure is actually incurred for the medical treatment of specified diseases or ailments for the assesses himself or a dependent relative. If the patient is a senior citizen the deduction allowable shall be the expenditure incurred or Rs. 80,000 whichever is less. Besides, any amount received under a medical insurance policy shall be reduced from the amount of deduction allowable.

Interest on Loan taken for Higher Education. [Sec. 80E]: 

Any amount paid by way of interest on a loan taken from any financial institution or any approved charitable institution for the purpose of pursing his higher education, is deduction without any limit.

Interest on Loan taken for first residential house. [Sec. 80EE]:

 Deduction is allowable for interest on housing loan from a bank/housing finance company, for allowable is Rs. 1, 00,000, subject to specified conditions. The deduction is allowable for A.Y. 2014-15 and A.Y. 2015-16 only.]

Donation for Charitable Purposes [Sec. 80G]: 

There are a number of donations in respect of which deduction is permissible under Sec. 80G. Deduction @ 50% is available for donation to Jawaharlal Nehru Memorial Fund, Prime Minister Drought Relief Fund, [National Children’s Fund] Indira Gandhi Memorial Trust or Rajiv Gandhi Foundation etc. 100% deduction is allowed for donations to National Defense Fund, Prime Minister’s National Relief Fund, [National Children’s Fund,]National Foundation for Communal Harmony, Chief Minister’s/Lt. Governor’s Relief Fund etc. Deduction is granted subject to the prescribed maximum ceiling and on furnishing of appropriate certificate from the done organization.

Donation of a sum exceeding Rs. 10,000 shall be eligible for deduction, only if it paid by a mode other than cash.

Expenditure on Rent. [Sec. 80GG]: 

Rent paid by an assesses not owning a house and not in receipt of house rent allowance u/s 10(13A) for residential accommodation whether furnished or unfurnished, is deductible subject to the prescribed ceilings. [w.e.f 1-4-2014, for A.Y. 2014-15]

Donations to specified institutions/associations for Research or for Rural Development [Sec. 80GGA]:

 Donation of a sum exceeding Rs. 10,000 shall be eligible for deduction, only if it paid by a mode other than cash.

Physical Disability [Sec. 80U]:

 Rs. 75,000 for disability and Rs. 1, 25,000 for severe disability.  

Download Automated All in One TDS on Salary for Non-Govt employees for FY 2015-16 & AY 2016-17 [ This Excel Utility can prepare at a time Tax Compute sheet + Automated HRA Calculation + Automated Form 16 Part A&B and Part B + Form 12 BA]

Income Tax F.Y. 2016-17 A.Y. 2017-18 Exemptions, Deductions and Rebate for Salaried Employees for F.Y. 2016-17 A.Y. 2017-18, With Automated All in One TDS on Salary for Govt and Non-Govt employees for F.Y.2016-17


Income Tax F.Y.2016-17 A.Y. 2017-18, Exemptions, Deductions and Rebate for Salaried Employees under Section 10, Section 24, Section 89(1), Chapter VIA, and Section 87A as per the Finance Bill 2016-17.

Section 80C – Subject to the overall limit of Rs. 1,50,000 under Section 80CCE.

For investments in specified schemes, saving instruments etc.U/s 80C

Read More in details

Employee’s Salary Structure 

Deduction under Section 80C – A complete list,With All in One TDS on Salary for Govt and Non-Govt employees for F.Y.2016-17


Main deduction of Section 80C for the Financial Year 2016-17 as per Finance Bill 2016-17.

Section 80C replaced the old Sec.88 and came into effect from 1st April 2006. The current maximum limit of Deduction under Section 80C is Rs.1,50,000 in a financial year. The earlier limit of Section 80C was Rs.1,00,000 up to FY 2014-15. Later on, it was increased to Rs.1,50,000 and same is continued.

Section 80C constitutes many investment options for tax savers. Hence, it is the top most choice for many. But many believe that only investments can be claimed for Deduction under Section 80C but the reality is some expenses like tuition fee or home loan are also part of such Deduction under Section 80C.

This section is available only for individuals and HUF only

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How to save tax on salary income,With Automated 50 and 100 employees Form 16 Part B for F.Y.2016-17


The major concern for many of salaried is how to save tax on salary income. All are known few but fail to utilize to the maximum. In this post, We will try to list down all allowances and deductions which help you in saving tax.

What is the difference between Exemption and deduction?

If an income is exempt from tax, then it is not included in the computation of income. However, the deduction is given from income chargeable to tax. Exempt income will never exceed the amount of income. However, the deduct may be less than or equal to or more than the amount of income.

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Automatic New Amended Form 16 Part B for the Financial Year 2015-16 and Ass Yr 2016-17


My @Quora post: Automatic New Amended Form 16 Part B for the Financial Year 2015-16 and Ass Yr 2016-17

Post by Pranab Banerjee:

Automatic New Amended Form 16 Part B for the Financial Year 2015-16 and Ass Yr 2016-17

Automatic New Amended Form 16 Part B for the Financial Year 2015-16 and Ass Yr 2016-17

Tax Exemption For Disabled Persons, With All in One Tax Preparation Excel Utility for F.Y.2016-17


My @Quora post: Tax Exemption For Disabled Persons, With All in One Tax Preparation Excel Utility for F.Y.2016-17

Post by Pranab Banerjee:

Tax Exemption For Disabled Persons, With All in One Tax Preparation Excel Utility for F.Y.2016-17

Tax Exemption For Disabled Persons, With All in One Tax Preparation Excel Utility for F.Y.2016-17

Download Automated Form 16 Part B in Excel for Financial Year 2015-16


The Financial Year 2015-16 and Assessment Year 2016-17 has already past. But most of the Govt & Non – Govt Concerned yet not able to prepare the Form 16 Part B or Part A&B for the F.Y.2015-16.But the Income Tax Return filing date have fixed on 31st July 2016 by the CBDT. If the employees have yet not got their Form 16 from their employer, they can not be able to file the Income Tax Return for the Financial Year 2015-16 and Assessment Year 2016-17.

If the Salary Certificate Form 16 Part B have yet not prepared till now, you can prepare the Form 16 Part B through this Excel Based Software for FY 2015-16 and AY 2016-17. This Excel Utility can use the both of Govt and Non-Govt Concerned.

Feature of this utility are :-

1) Automatic Prepare Form 16 Part B for AY 2016-17

2) These Excel Based Software can use both of Govt and Non-Govt concerned.

3) Automatic Convert the Amount into the in the word.

Below Given all type of Automated Income Tax Form 16 for F.Y.2015-16

1) One by One Form 16 Part A&B and Form 16 Part B for F.Y.2015-16 [ This Excel Utility can prepare One by One Form 16 Preparation Excel Utility]

2) 100 employees Master of Form 16 Part B for F.Y.2015-16 [ This Excel Utility can prepare at a time 100 employees Form 16 Part B for F.Y.2015-16]

3) 50 employees Master of Form 16 Part B for F.Y.2015-16 [ This Excel Utility can prepare at a time 50 employees Form 16 Part B]

4) 50 employees Master of Form 16 Part B with 12 BA for F.Y.2015-16 [This Excel Utility can prepare at a time 50 employees Form 16 Part B with 12 BA]

Income tax Declaration of Employees for FY 2016-17, With Automated All in One TDS on Salary for Government and Non-Government Employees for F.Y.2016-17 and A.Y.2017-18


According to the income tax guidelines, income tax is deductible annually for each financial year commencing from 1st of April and ending on the 31st March. The responsibility of the employer has b…

Source: Income tax Declaration of Employees for FY 2016-17, With Automated All in One TDS on Salary for Government and Non-Government Employees for F.Y.2016-17 and A.Y.2017-18