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 been affixed by the Income-tax Department to deduct income tax from the salary of employees monthly on a proportionate basis and deposit before the due date ( Monthly) as prescribed and report same to Income tax Department (quarterly as well as annually). The aggregate tax calculated on the estimated projected income will be deducted proportionately in 12 months, thus the assessment needs to be done on at the start of the year.

Download All in One TDS on Salary for Private employees for F.Y.2016-17 & A.Y.2017-18 [ This Excel utility can prepare at a time Tax Compute Sheet ( Income tax Declaration )+ Automatic H.R.A. Exemption Calculation + Individual Salary Structure as per Private Concerned Salary Pattern + Automatic Form 16 Part A&B + Automatic Form 16 Part B for F.Y.2016-17 + Form 12 BA, as per Finance Budget 2016-17]

Therefore, all employees are requested to declare their proposed investments for the financial year 2016–17 ,so that proportionate income tax could be calculated & systematic deducted from the salary can be started early

It has to be noted that only the expenditure actually incurred on payment of rent in respect of residential accommodation occupied by the assessee subject to the limits laid down in Rule 2A, qualifies for exemption from income-tax. Thus, house rent allowance granted to an employee who is residing in a house/flat owned by him is not exempt from income-tax.

Download All in One TDS on Salary for Govt & Non Govt Employees for F.Y.2016-17 [This Excel utility can prepare at a time Tax Compute Sheet ( Income tax Declaration )+ Automatic H.R.A. Exemption Calculation + Individual Salary Structure as per Govt & Non -Govt Concerned Salary Pattern + Automatic Arrears Relief Calculator U/s 89(1) with Form 10E + Automatic Form 16 Part A&B + Automatic Form 16 Part B for F.Y.2016-17 as per Finance Budget 2016-17]

Save your tax as per the new budget 2016, With All in One TDS on Salary for Central and State Govt employees for F.Y.2016-17 and A.Y.2017-18


Things to save your tax as per the new budget, As 1st April 2016 is just about to come, we need to find out ways to save our tax deductions & also save our tax liability. This is the right time where we can pursue tax planning & save our tax from being deducted or make investments to save our tax liability.

Download Income Tax All in One TDS on Salary for Central Govt employees for Financial Year 2016-17 & Assessment Year 2017-18 as per Budget 2016 [ This Excel Utility can prepare at a time Tax Compute Sheet + Individual Salary Sheet + Individual Salary Structure + Automatic Calculation of H.R.A. Exemption + Automated Form 16 Part A&B and Form 16 Part B as per Amended by the Finance Budget 2016]

Here is a list of things you can do to make your money stay with you. This will not just get you tax saving, but also help you to multiply your money for the long term. You will not just be under burdened from paying tax, but will also have some savings for your retirement. Now check more details about “Last Minute Things to save your tax as per the new budget” from below….

Save your tax as per the new budget 2016

Here are the steps which you can follow:

Step 1: Calculate your projected income:

Be it Income from salary, Business or profession profits, house property income, capital gains or interest or dividend income, you need to sum it up. You can then calculate your tax liability on the same but make sure you calculate it keeping the recent slabs in mind. Also, if you are not sure of the exact amount, you can select a proportionate amount of interest, dividend, etc.

Step 2: Calculate your tax liability:

After finalizing your income, you need to calculate your tax liability. You need to consider the new budget and then consider the basic exemption slabs accordingly. In the recent budget, there are not many changes in the various slabs. Only the rebate under section 87A has been increased from 2000/- to 5000/- for the assesses having income below Rs. 5 Lacs.

Step 3: Check for your investments:

You might have made a few investments like PPF, LIC, etc. during the on-going year. You may also have an on-going housing loan in which you can claim interest & principal deductions. You also might have an education loan, on which you are paying installments, etc. so, now you need to make a list of all your investments & find out the totals.

Download All in One TDS on Salary for All State Govt employees For Financial Year 2016-17 & Assessment Year 2017-18 [ This Excel Utility can prepare at a time Tax Compute Sheet + Individual Salary Sheet + Individual Salary Structure + Automatic Calculation of H.R.A. Exemption + Automated Form 16 Part A&B and Form 16 Part B as per Amended by the Finance Budget 2016]

Step 4: Scope for investments:

Now, you need to find out the balance amount which is possible for you to invest & make sure you have the required funds to invest. You just have 4-5 days in hand, so you need to take steps at the earliest.

Possible Areas of Investment:

The place where you can make sure you have already invested or if you want to do now, you can go for that:

  1. PPF:You can contribute a max up to Rs. 150,000/- in this investment. The interest rate is between 7 – 8% for this investment.
  1.   FD:There are tax saver FDs for 5 years & 10 years available in which the amount you can invest is a minimum of Rs. 500/- & a max up to Rs. 150,000/-.
  1. Medi – Claim:Make sure you have a mediclaim insurance. It is not an investment basically, but you get deductions up to Rs. 25,000/- for < 60 Years and  Rs. 30,000/-for above 60 Year i.e. Sr.Citizen

LIC: You have two options here. There are cum bonus plan in which you get your LIC money back. Also, there are other plans which just provide a life cover

Download Automated Arrears Relief Calculator with Form 10E from F.Y.2001-02 to F.Y.2016-17 and Reduce tax liability on arrears relief calculator U/s 89(1),


When salary or other income arrears are received in any particular year, one’s tax liability for that year increases. Simply because one’s total income for that year has increased. Most salaried individuals will be able to identify with such situations. But having to pay a higher tax on account of arrears is unfair to the taxpayer. Had he originally received the money in the year(s) that he was supposed to receive it, the additional tax would have been staggered over this time, instead of converging in one year as a lump sum payment.

Our Income tax law has taken the same into consideration and allows a tax deduction under Section 89(1) for this additional tax burden on the tax payer. At times, the employee appraisal process (where the employee can expect a revised salary), takes longer than expected, and the actual payments are postponed. Also, commissions and other cash incentives for sales and marketing personnel, could be reconciled at a later date.

SECTION 89(1)
Basically, the relief under Section 89(1) is arithmetical. It involves ascertaining the two amounts of tax, the first is the amount of tax applicable to the total income, including the extra amount in the year of receipt. The second is calculating the amount of tax by adding the arrears to the total income of the years to which they relate. The difference between the two amounts is the deduction allowed.

In other words, if the taxpayer is required to pay any additional amount of tax (in the year of receipt) than what he would have otherwise paid, had he received the money in the year(s) he was supposed to receive it, such additional tax can be reduced from the tax payable.

Download Automated Arrears Relief Calculator with Form 10E From the Financial Year 2001-02 to Financial Year 2016-17 (Up to date Version) as per Finance Budget 2016.

Income Tax Calculator for Govt and Non-Govt employees with Income Tax Slab and limit of max of some Tax Section for FY 2016-17 / AY 2017-18 as per Budget 2016-17


Tax Calculator 1

Download Income Tax Calculator  with Arrears Relief Calculator + H.R.A.Exemption Calculation for Govt & Non-Govt employees for Financial Year 2016-17& Assessment Year 2017-18

Arrears 1

Download Automated Income Tax Arrears Relief Calculator with Form 10E From F.Y.2001-02 to F.Y.2016-17 ( Up to date)

Arrears 2

Indian Finance Minister, Shri Arun Jaitley has tabled today, the Union General Budget 2016-17 in the Parliament.  No changes have been made to the existing Income Tax slabs & rates. Below are the Income Tax Slab Rates for FY 2016-17 or AY 2017 -18.

(FY is Financial Year. AY is Assessment Year)

Latest Income Tax Slab Rates for FY 2016-17

The income tax slabs & rates are categorized as below;

  • Individual resident aged below 60 years.
  • Senior Citizen (Individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year).
  •  Super Senior Citizen (Individual resident who is of the age of 80 years or more at any time during the previous year).

Budget 2016-17 & Important Tax Amended

  • Deduction amount under 80GG increased from Rs 24,000 per annum to Rs 60,000 per annum. Section 80GG is applicable for all the individuals who do not own a residential house & do not get HRA (House Rent Allowance).
  • Section 87A Rebate : Benefit of Rs 5,000 upto the income of Rs 5,00,000. If you are earning below Rs 5 lakh, you can save an additional Rs 3,000 in taxes. Tax rebate under Section 87A has been raised from Rs 2,000 to Rs 5,000. Effectively, this means now the basic exemption is of Rs 3 lakh.
  • 15 % Surcharge on income of more than 1 crore rupees yearly has been proposed, earlier it was 10 %.
  • National Pension System : 40% of corpus withdrawal at the time of retirement will be tax exempted.
  • As per the Budget 2016 proposal, at the time of retirement, 40% of the EPF (Employees Provident Fund) lump sum withdrawal is tax-exempted, 60% of the corpus is taxable as per the applicable Income Tax Slab. To avoid this, the EPF member has to invest this 60% balance in an Annuity life insurance product. The Annuity income will be Tax-free.  Section 80EE – First time Home Buyers can claim an additional Tax deduction of up to Rs 50,000 on home loan interest payments u/s 80EE.
  • The home loan should have been sanctioned in FY 2016-17
  • Loan amount should be less than Rs 35 Lakh
  • The value of house should not be more than Rs 50 Lakh

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.

Central Govt Employees All in One TDS on Salary ( Prepare at a time Tax Compute sheet+ Individual Salary Structure +Arrears Relief +HRA Exemption +Form 16 Part B +Form 16 Part A&B for FY 2015-16


The Limit of  some Tax Section has Increased by this Finance Budget 2015. The Section 80U have increased 75000/- P.A. and Rs. 125000/- P.A. for Blind persons. Traveling Allowances also raised up to 1600/- P.M. and Blind Person can avail Rs. 3200/- P.M. Section 80D Raised Rs. 25000/- and Sr.Citizen Rs. 30,000/-

It is necessary to calculate your Tax Liability for the Financial Year 2015-16 as the D.A. has also increased to the Govt employees time to time.

The below given Excel based Software Only for Central Govt Employees which can prepare at a time Income Tax Computed Sheet + Automatic Arrears Relief Calculator + Automatic House Rent Exemption calculation + In built Salary Structure for both Govt & Non Govt employees which prepared on the basis of Salary Pattern of each Govt and Non Govt concerned + Automated Form 16 Part A&B + Automated Form 16 Part B for the Financial Year 2014-15 and Assessment Year 2015-16.

It is most hazard to calculate individually HRA Calculation separately another sheet and also it is hazard to calculate the Arrears Relief Calculation from the financial Year 2000-01 to 2015-16. This Excel Utility can prepare all the calculation just a moment. Thus your time may reduce for calculating the actual Income Tax of each employee.

Feature of this Utility:-

·         Automatic Calculate Income Tax with Tax Computed sheet individually as per Central Govt Salary Pattern.

·         Individual Salary Structure for calculating the Gross Salary Income as per Central Govt employees

·         Automatic Calculate the House Rent Exemption Calculation U/s 10(13A)

·         Automatic Calculate the Arrears Relief Calculation with Form 10E since 2000-01 to 2015-16

·         Automated Form 16 Part A&B for F.Y.2015-16

·         Automated Form 16 Part B for F.Y.2015-16

·         Automatic Convert the Amount in to In Words

Click here to Download  CentralGovt Employees Excel Based Software [ This Excel based Utility can prepare at a time Tax Compute sheet+ Individual Salary Structure +Arrears Relief +HRA Exemption +Form 16 Part B +Form 16 Part A&B for FY 2015-16 ]

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).