Automatic Advance TDS on Salary with New Amended Form 16 for the financial year 2013-14 and Assessment Year 2014-15

All in One Income Tax Preparation TDS on Salary for Govt and Non-Govt Employees TDS + HRA Exemption + New Amended Form 16 For the Financial Year 2013-14 and Ass Year 2014-15 

Just published the New Finance Bill (Central) and have some changes in the Income Tax Rules through this New Finance Bill. Some amendment have made in Income Tax like as newly include the great relief of Rs. 2,000/- from the Tax for the Salaried Person and which Tax rebate can get who are not crossing the limit of 5,00,000/- Taxable Income. Below 5,00,000/- can get the Rebate U/s 87A as per the Finance Budget passed for the Financial Year 2013-14. But who’s Taxable income exceed Rs. 5,00,000/- they can not get this benefits.

No change have been made in the Income Tax Slab for the Financial Year 2013-14 and Assessment Year 2014-15. The Tax Slab as given below for Men and Women for the FY 2013-14. Some Feature of the New Finance Bill which related to Income Tax.

  • Tax credit of Rs.2000 for annual income upto Rs. 5 lakh
  •  Education Cess: 3% of the Income-tax.
  •  Surcharge of 10% on income more than Rs. 1 crore
  •  Tax credit of Rs.2000 for annual income upto Rs. 5 lakh
  •  Home Loan Income tax Exemption limit increased from Rs.1.5 lakhs to Rs.2.5 lakhs for 
  •  loan up to Rs.25 lakhs u/s  80 EE ( w.e.f. 1/4/2013)
  •   Rajiv Gandhi Equity Savings Scheme extended to mutual funds Rajiv Gandhi
  •  Equity Savings Scheme to be liberalized.
  •   Rajiv Gandhi Equity Savings Scheme limit increased.

Income Level

i.

Where the total income does not exceed Rs.2,00,000/-.                             (Male & Women)

NIL

ii.

Where the total income exceeds Rs.2,00,000/- but does not exceed Rs.5,00,000/-.

10% of amount by which the total income exceeds Rs. 2,00,000/-***

iii.

Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.10,00,000/-.

Rs. 30,000/- + 20% of the amount by which the total income exceeds Rs.5,00,000/-.

iv.

Where the total income exceeds Rs.10,00,000/-.

Rs. 1,30,000/- + 30% of the amount by which the total income exceeds Rs.10,00,000/-.

Download the All in One Advance Income Tax Preparation Excel Based Software which can prepare at a time the Tax Computed Sheet + House Rent Exemption U/s 10(13A) + New Amended Form 16 for the Financial Year 2013-14 and Assessment Year 2014-15. Download from below:-

All in One TDS for Govt and Non-Govt employees TDS on Salary for the Financial Year 2013-2014

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