Best Banks To Take Home Loans In 2017, with All in One TDS on Salary for Central and State Employees for F.Y.2016-17


If you are planning to build your own dream house and confused as to which banks to get the best quote or which kind of loan you must opt for, we give you a list of best home loan providers you could approach in India in 2017 for your home loans. Here are a list of banks and housing finance companies that offer you the best interest and processing fees on home loans.
State Bank of India SBI charges an interest rate which varies from 9.10 per cent to 9.30 per cent, whereas the processing fee is zero and loan amount one will be getting varied. If your property is valued up to Rs 30 Lakhs you can get 90 percent of the property value as loan. On the other hand, if it is up to Rs 75 lakhs, you get 80 per cent and above Rs. 75 lakh it is 75 percent of the property value.

Download All in One Income Tax Preparation Excel Based Software for Central Govt employees & All State Govt Employees for the F.Y.2016-17 [ This Excel Utility can prepare at a time Individual Tax Compute Sheet + Individual Salary Sheet + Individual Salary Structure for Central & All State Employees + Automatic H.R.A. Exemption + Automatic Form 16 Part A&B and Form 16 Part B for F.Y.2016-17]

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Prepare auto fill Income Tax Form 16 Part B and Form 16 Part A and B for financial Year 2015-16 which can prepare at a time 100 and 50 employees Form 16


The time is now prepare the Income Tax Salary Certificate Form 16 Part B for the Financial Year 2015-16 and Assessment Year 2016-17. This Form 16 Part B must be given to the employees by the employer within April-2016, so the employee can fill the Income Tax Return to the Income Tax Department for the Financial Year 2015-16.


As per the CBDT Notification that the Form 16 Part A is mandatory to download from the Traces Portal ( www.tdscpc.gov.in), and the Form 16 Part – B must be prepare by the Employer/Deductor. In this regard this time is the end of the Financial Year 2015-16 and must be prepare the Form 16 Part B by the Deductor or Employer of Govt and Non-Govt Concerned.

Some of the Concerned have not able to download the Form 16 Part A from the Traces Portal, either they have no Internet Connection or they have no concept how to Download the Form 16 Part A from the Traces Portal. So they can used the New Amended Form 16 format Part A and B both, although the CBDT is clearly mentioned that the Manual Form 16 Part A can not be accepted.

Below given the Automated Excel Based Income Tax TDS Certificate Form 16 Part B for the Financial Year 2015-16, which can prepare and calculate the actual Income Tax as per the Finance Budget 2015-16. Also given below the Form 16 Part A and B both ( Who have not able to download the Form 16 Part A from the Traces Portal).

Feature of this Excel Utility :-

  • Automatic Calculate the Income Tax liability after filling some salary data.
  • Automatic Prepare at a time 100 employees Form 16 Part B for F.Y.2015-16
  • Automatic Prepare at a time 50 employees Form 16 Part B for F.Y.2015-16
  • Automatic Prepare at a time 100 employees Form 16 Part A &B for F.Y.2015-16
  • Automatic prepare at a time 50 employees Form 16 Part A&B for F.Y.2015-16
  • Automatic Convert the Amount in to the In-Words 
  • All the Amended Income Tax Section have in these Excel Utility
  • Easy to fill and easy to install in any computer
  • This Excel Utility can Use both of Govt and Non-Govt Concerned
  • For more Income Tax Form 16 or Income Tax Software visit http://www.itaxsoftware.net

1) Download 100 employees Master of Form 16 Part B for F.Y.2015-16 ( Prepare       at a time 100 employees Form 16 Part B)

2) Download 50 employees Master of Form 16 Part B for F.Y.2015-16 ( Prepare         at a time 50 employees Form 16 Part B)

3) Download One by One Form 16 Part B for F.Y.2015-16 ( This Utility can               prepare One by One Form 16 Part B)

4) Download 100 employees Master of Form 16 Part A&B for F.Y.2015-16 (               Prepare at a time 100 employees Form 16 Part A&B)

5) Download 50 employees Master of Form 16 Part B for F.Y.2015-16 ( Prepare         at a time 50 employees Form 16 Part A&B)

6) Download One by One Form 16 Part A&B and Part B for F.Y.2015-16 (                 Prepare One by One Form 16 Part A&B and Part B)

More details about any Income Tax Software you can visit http://www.itaxsoftware.net

More details about any Income Tax Software you can visit http://www.itaxsoftware.net

Autofill Excel Based Form 16 Part B and Part A&B for the Financial Year 2015-16 & Assessment Year 2016-17


Download the Excel Based Automated Form 16 for Financial Year 2015-16 & Assessment Year 2016-17 from the below link


Main Feature of this Excel Utility are :-

  • Automatic calculate the Form 16 Part A&B and Part B
  • Automatic Calculate the Income Tax Liability 
  • Automatic Prepare the Form 16 after filling the employees data
  • Automatic Convert the Amount in to the In words
  • Easy generate the Utility
  • Easy install this utility more than One System and work from both System
  • All Amended Income Tax Section as per New Finance Budget 2015-16

1) Download the On by One Prepare Form 16 Part A&B and Part B( Prepare One by One Form 16 Part A&B and Part B for FY 15-16)

 

2)Download 50 employees Master of Form 16 Part A&B  ( This utility can prepare at a time 50 employees Form 16 Part A&B for FY 2015-16)

 

3)Download  100 employees Master of Form 16 Part A&B  ( This utility can prepare at a time 100 employees Form 16 Part A&B for FY 2014-15)

 

4)Download 50 Master of Form 16 Part B( This can prepare at a time 50 employees Form 16 Part B for FY 2015-16)

 

 5)Download 100 Master of Form 16 Part B( This can prepare at a time 50 employees Form 16 Part B for FY 2015-16)

 

6) Download the Master of Form 16 Part B with Form 12 BA ( This utility can prepare at a time 50 employees Form 16 Part B with 12 BA for FY 2015-16)

The Income Tax Department have notifies that the the Income Tax Form 16 Part A is now Mandatory to download from the Traces Portal (www.tdscpc.gov.in) by the all of deductors. But most of the deductor have not able to download the Form 16 Part A or they have not well known to how to download the Form 16 Part A from the TRACES Portal. Some of the Deductor yet not known about this new Notification of CBDT. It appears that the most of Deductor have not known that the new format of Form 16 and the Form 16 have in two parts Part A and Part B.Various Govt and Non Govt Concerned could not download the Form 16 Part A from the TRACES Portal. But the Form 16 must be distribute to their employees within this month positively, so they can fill the Income Tax return online or off line.

The Part A of Form 16 have only have the Quarter ended Income Tax deducted and deposited in to the Central Govt Account. and another Part of Form 16 Part B have the Details of employee’s Salary with the Tax liability of employee.

Any employee can view and download the Tax Deducted and Deposited through the view and download the 26A through the TRACES Portal ( www.tdscpc.gov.in). this 26A is like as the Form 16 Part A.

If you are not able to download the Form 16 Part A you can look the above given some Excel Based Form 16 preparation Software which can prepare both of Form 16 Part A&B and Part B for the financial Year 2013-14 and Assessment Year 2014-15.

Deduction 80D Mediclaim, With Automated 50 employees Master of Form 16 Part B for F.Y.2015-16


The person who paid medical insurance premium himself or spouse or parents or depended children can claim the deduction from total income of the person as per the instructions given below. We will discuss here the complete detail about deduction under section 80D for the A.Y. 2016-17 and A.Y. 2015-16

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

Who can claim deduction under section 80D?

Individual and HUF assesee can claim the deduction under section 80D for any medical insurance premium known as MEDICLAIM.

THE DEDUCTION IS ALLOWED ONLY UNDER AN APPROVED SCHEME OF GENERAL INSURANCE CORPORATION OF INDIA OR ANY CONTRIBUTION MADE TO CENTRAL GOVERNMENT HEALTH SCHEME OR ANY SIMILAR NOTIFIED SCHEME.

How much deduction is allowed under section 80D?

1) In case of an individual, the maximum deduction is allowed is Rs.15000 (Rs.20,000 in case any person insured is a resident senior citizen 60 years or above.) and Rs. 15000 for any parent or parents  (Rs.20,000 in case of resident senior citizen 60 years or above).

THE DEDUCTION IS ALLOWED UP TO RS.5000 IN THE CASE OF PREVENTIVE HEALTH CHECK-UP OF SELF, SPOUSE, PARENT(S) OR DEPENDENT CHILDREN IN AGGREGATE.

2)  In case of HUF, the maximum deduction is Rs. 25,000 (Rs. 30,000 in case any person insured is a resident senior citizen 60 years or above).

Conditions Related to Deduction under section 80D

1)   You must note here that the deduction is allowed only if the payment is made from your own income during the pervious year.

2)   Any premium for health insurance or CGHS shall be made by any mode except cash. However, cash payment shall be accepted if paid during preventive health check-up.

Table Showing Total Deduction Allowed under section 80D

Persons Assessee, Spouse and Dependent Children Parents (Whether Dependent or Not) Total Deduction
Person less than age of 60 years 25000 25000 50000
Person Less than age of 60 years and parents above age of 60 years 25000 30000 55000
Person above age of 60 years and parents above 60 years 30000 30000 60000

The main and important point of Deduction for Medical Insurance Premium (MEDICLAIM) under section 80D is that, it does not included in deduction under section 80C (Rs.1,50,000 in total).

In simple words, you can get deduction under section 80D extra over section 80C.

Tax Planning Through MEDICLAIM (Medical Insurance Premium) Under Section 80D

So it is good strategy to pay your medical insurance premium yearly for you, wife/husband, children and parents. The premium is deductible u/s 80D up to a maximum of Rs. 25,000 (Rs, 30,000 if person insured is 60 years or more).

The other thing you must note that medical insurance premium paid for parents having more benefits. The benefits to get health insurance policy for the parents are care of your parents and getting extra Rs.25,000 deduction under section 80D (Rs.30,000 if any parent is 60 years or more). It is immaterial that parents are depended or not.

NPS Tax Benefit u/s 80CCD(1), 80CCD(2) and 80CCD(1B),+ Automated Master of Form 16 Part B for F.Y.2015-16 + All in One TDS on Salary for Govt and Non Govt employees for F.Y.2015-16


Tax Benefit on NPS Tier 1 and/or 2?

NPS has two Tiers – 1 and 2.

NPS Tier 1 is the long term investment, which has restricted withdrawals and meant primarily for retirement planning. On maturity, you can withdraw maximum of 60% of corpus as lumpsum and rest has to be used for annuity purchase.

NPS Tier 2 is for managing short to medium term investment. You can invest and withdraw anytime as per your wish. This is an optional feature and you are asked if you need Tier 2 account while opening NPS.

All the tax benefit related to NPS is available to investment in NPS Tier 1 account only.

Download Automated Master of Form 16 part B which can prepare at a time 50 employees Form 16 Part B including all amended Section as per the Finance Budget 2015-16

NPS Tax Benefits:

NPS tax benefits are available through 3 sections – 80CCD(1), 80CCD(2) and 80CCD(1B). We discuss each below:

  1. Section 80CCD(1)

Employee contribution up to 10% of basic salary and dearness allowance (DA) up to 1.5 lakh is eligible for tax deduction. [This contribution along with Sec 80C has 1.5 Lakh investment limit for tax deduction]. Self employed can also claim this tax benefit. However the limit is 10% of their annual income up to maximum of Rs 1.5 Lakhs.

  1. Section 80CCD(1B)

Additional exemption up to Rs 50,000 in NPS is eligible for income tax deduction. This was introduced in Budget 2015

  1. Section 80CCD(2)

Employer’s contribution up to 10% of basic plus DA is eligible for deduction under this section above the Rs 1.5 lakh limit in Sec 80CCD(1). This is also beneficial for employer as it can claim tax benefit for its contribution by showing it as business expense in the profit and loss account. Self employed cannot claim this tax benefit.

Download All in One TDS on Salary for Govt and Non-Govt employees for F.Y.2015-16 [ This Excel Utility can prepare at a time Tax Compute Sheet + Individual Salary Structure + Automatic Arrears Relief Calculation + Automatic Form 10E + Automatic H.R.A. Calculation + Automated Form 16 Part A&B and Form 16 Part B for F.Y.2015-16]

Tax Benefit for Compulsory NPS deduction:

The earlier pension structure was replaced by NPS in most central and state government jobs since 2004. So anyone who joined after that has compulsory deduction for NPS. The deduction is 10% of basic salary and dearness allowance (DA) and the employer too contributes the matching amount. The confusion for most employees is how they take tax benefit on their compulsory NPS deduction?

Here is an example:

Amit is a government employee and his employer deducts Rs 62,000 per annum (which is 10% of basic + DA) from salary as employee’s contribution in NPS. It also deposits Rs 62,000 per annum as employer’s contribution in NPS. How and under which section should he claim tax benefit on NPS?

Let’s take the easy part first. Employer’s contribution in NPS would be eligible for tax deduction u/s 80CCD(1).

The employee has a choice as to which section [80CCD(1) or 80CCD(1B)] he wants to show his contribution.  Ideally he should show Rs 50,000 investment in NPS u/s 80CCD(1B). The tax deduction on rest Rs 12,000 can be claimed u/s 80CCD(1). The section 80CCD(1) along with Section 80C has investment limit eligible for tax deduction as Rs 1.5 lakhs. So he should make additional investment of Rs 1,38,000 in Section 80C to save maximum tax. In all he can save Rs 2 lakhs tax u/s 80C and 80CCD(1B).

Income or loss from house property and exemption U/s 24B on housing loan interest, with Automatic Master of Form 16 Part B for F.Y.2015-16


Download Automatic Master of Form 16 Part B for F.Y.2015-16 [ This Excel Based Software can prepare at a time 50 employees Form 16 Part B just a moment.]

Download One by One prepare Automated Form 16 Part A&B and Part B for FY 2015-16

Download Automatic 100 employees Master of Form 16 Part B for F.Y.2015-16 [ This Excel Based Software can prepare at a time 100 employees Form 16 Part B just a moment.]

While taking into account the loss from House Property, the DDO shall ensure that

the employee  files  the declaration referred to above and encloses therewith  a computation of such loss from house property. Following details shall be obtained and kept by the employer in respect of loss claimed under the head “ Income from house property” separately for each house property:

  1. a)        Gross annual rent/value
  2. b)        Municipal Taxes paid, if any
  3. c)        Deduction claimed for interest paid, if any
  4. d)        Other deductions claimed
  5. e)        Address of the property
  6. f)         Amount of loan, if any; and
  7. g)        Name and address of the lender (loan provider)

Conditions  for  Claim  of  Deduction  of  Interest  on  Borrowed  Capital  for Computation of Income From House Property [Section 24(b)]:

Section 24(b) of the Act allows deduction from income from houses property on interest on borrowed capital as under:-

the deduction is allowed only in case of  house property which is owned and is in the occupation of the employee  for his own residence. However, if it is actually not occupied by the employee in view of his place of the employment being at other place, his residence in that other place should not be in a building belonging to him.

(a) The acquisition  or construction of the house should be completed within 3 years from the end of the FY in which the capital was borrowed. Hence, it is necessary for the DDO to have the completion certificate of the house property against which deduction is claimed either from the builder or through self-declaration from the employee.

(b) Further any prior period interest for the FYs up to the FY in which the property was acquired or constructed (as reduced by any part of interest allowed as deduction under any other section of the Act) shall be deducted in equal installments for the FY in question and subsequent four FYs.