Automated All in One TDS on Salary for Govt. and Non-Govt Employees for F.Y.2017-18 and A.Y. 2018-19, Plus Income Tax Benefits on Joint Home Loan ?


All in One for Govt and Non – Govt employees For AY 2018-19 [ This Excel Utility can prepare at a time Tax Compute Sheet + Individual Salary Sheet + Individual Salary Structure as per Govt & Non-Govt Salary pattern + Automated H.R.A. Exemption Calculation + Automated Arrears Relief Calculation with Form 10E up to F.Y.2017-18 + Automated Form 16 Part A&B and Form 16 Part B for F.Y. 2017-18 as per the New Income Tax Slab ]

Govt-Non Govt Page 1Govt Non Govt Page 2Bihar Tax ComputeMaster Form 16 A&B Page 3Arrears Relief Page 1Arrears Relief Page 2Form 16 Part B

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 Exemption for Salaried Persons as per Budget 2016,With All in One TDS on Salary for Non Govt employees for F.Y.2016-17 & A.Y.2017-18


Finance Minister Arun Jaitley had announced incremental tax benefits for common taxpayers in his recent Budget 2016

Here are some income tax changes that experts expect in the budget:

1) The basic income tax exemption limit should be raised from Rs. 2.5 lakh for male & female below 60 years age.

2) The current deduction limit of Rs. 2 lakh on home loan interest paid U/s 24B during a financial year is too & Additional Section 80EE where can get more Home Loan Interest Max Rs. 1.5 Lakh excluding U/s 24B.

3) A separate section for deduction on the principal paid on home loan should be introduced. Home loan principal repayment deduction is currently clubbed with other options under Section 80C, which has a ceiling of Rs. 1.50 lakh.

4) Home buyers can currently avail home loan interest deduction only after the completion of construction of property. In case construction is not complete within 3 years, the deduction is reduced to Rs. 30,000 per year from Rs. 2 lakh under current norms. This needs to be changed, given widespread construction delays.

5) The limit of Section 80C of Rs. 1.5 lakh which raised and linked to the Additional exemption U/s 80CCD(1B) Max. Rs. 50,000/- income-level of tax payers as some of the compulsory contributions like employee provident fund leave very little scope for other investments for people falling in highest tax bracket up to Rs. 2 Lakh.

6) Medical Insurance U/s 80D has raised the Max. limit of Rs. 25,000 per annum & Rs. 30,000/- for Sr.Citizen

7) The travel allowance, which is raised to Rs. 1,600 per month from Rs. 800 & Rs. 3200/- P.M. for above 80% Phy.disable persons.

8) The New Pension Scheme (NPS) should be made tax-exempt on withdrawal on the lines of other investments like PPF, insurance policies etc.

Click to Download All in One TDS on Salary for Non-Govt employees for Assessment Year 2017-18 & Financial Year 2016-17 [ This Excel based Software can prepare at a time Tax Compute Sheet + Individual Salary Structure + Individual Salary Statement + Automatic H.R.A. Exemption Calculation + Automatic Form 16 Part A&B and Form 16 Part B + Automatic Form 12 BA ]

Automated All in One TDS on Salary for Govt & Non Govt Employees For the Financial Year 2013-14


Free download the Income Tax Preparation Excel Based Software which can prepare at a time your Income Tax Computed Sheet +Individual Salary Sheet+Individual Salary Structure for Govt and Non Govt Concerned+Automatic Arrears Relief Calculator+Automatic HRA Exemption Calculation + Automatic Form 16 Part B and Form 16 Part A&B for the Financial Year 2013-14. THIS EXCEL BASED SOFTWARE CAN USE BOTH OF GOVT AND NON GOVT CONCERNED AS WELL AS EMPLOYEES.

Download the Utility from below

Up Dated All in One TDS+HRA Calculation + Arrears Relief + Form 10E + Form 16 For AY 2014-15

More Excel Based Software can Download from the link http://www.itaxsotware.net

Automatic Tax Computed + Salary Sheet+Arrears Relief Calculation+HRA Calculation+Automatic Form 16 Part B for the Financial Year 2013-14


In this Financial Year 2013-14 and Assessment Year 2014-15 have already started and also it’s time to calculate your Income Tax Liability for this financial Year. This financial Year will be end on the month of March 2014, so you have to submit your Income Tax Liability to your employer between this duration. Here is some Income Tax Preparation Excel Based Software which can prepare at a time your Income Tax Computed sheet + Individual Salary Sheet + Individual Salary Structure for calculating the Gross Salary Income + Automatic Arrears Relief Calculation U/s 89(1) with Form 10E + Automatic House Rent Exemption Calculation + Automatic Form 16 Part B and Form 16 Part A&B for the Financial Year 2013-14 and Assessment Year 2014-15. Below given Excel Based all in One TDS on Salary for some Indian State Employees separately.  Just choose your State and download the utility for your Income Tax Calculation accurately.

Click here to Download the utility

 

Automatic Form 16 Part B with 24Q & 26Q for Assessment year 2014-15


Automatic 24Q and 26Q with Form 16 Part B for the Assessment Year 2014-15. This Excel Based Software can prepare the all quarters of 24 Q and 26 Q and also prepare at a time the Form 16 Part B for the Financial Year 2013-14 and Assessment Year 2014-15. Download the utility from below link

(50 employees)24Q & 26Q with Master of Form 16 Part B for AY 2014-15

All in One Income Tax preparation Excel Software for Assessment Year 2014-15


Most popular the All in One Income Tax preparation Excel based Software for the Assessment Year 2014-15. This Excel Based Software can prepare at a time the Salary Sheet + Income Tax Compute Sheet + Automatic House Rent Calculation + Automatic Arrears Relief Calculation with Form 10E + Form 16 Part B for the Financial Year 2013-14 and Assessment Year 2014-15. This Excel utility can use both of Govt and Non Govt Concerned.

Download the utility from below

TDS+HRA Calculation + Arrears Relief + Form 10E + Form 16 For AY 2014-15