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]

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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

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 ]

All in One TDS on Salary for Central Govt employee for F.Y.2015-16 with Major Changes in Income Tax by the Budget for F.Y 2015-16 for Salaried persons.


Download the All in One Income Tax Preparation Excel Based Software for Only Central Govt Employees for Financial Year 2015-16 [ This Excel Utility can prepare at a time your Tax Compute Sheet + Individual Salary Sheet + Individual Salary Structure as per Central Govt Salary Pattern + Automatic HRA Calculation + Automated Form 16 Part A&B and Form 16 Part B for F.Y.2015-16 with the all modified section by the Finance Budget 2015-16]

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Major Changes in Income Tax by the Budget for F.Y 2015-16 as given below

       Popular  Income Tax                            Section Existing Provisions for FY 2014-15

AY 2015-16

Changes as per Budget for FY 2015-16

 AY 2016-17

Surcharge on taxable income exceeding Rs. 1 Crore for Individuals, Senior Citizens, Very Senior Citizens, HUFs, AOPs, BOIs, artificial juridical persons, firms, cooperative societies and local authorities 10% of Income Tax 12% of Income Tax
Comparison of Benefits under various IT Sections
Exempted amount of transport allowance Rs. 800/- per month Rs. 1,600/- per month & for Phy.Disable Persons Rs.3200/- P.M.
Section 80D – Deduction for Health  Insurance premium Rs. 15,000/- Rs. 25,000/-
Section 80D – Deduction for Health  Insurance premium for Senior Citizens Rs. 20,000/- Rs. 30,000/-
Investment in Sukanya Samriddhi Scheme 1.5 Lakh Eligible for deduction u/s 80C and any payment from the scheme shall not be liable to tax.
Section 80DDB – Deduction in case of very senior citizens on expenditure on account of specified diseases Rs. 60,000/- Rs. 80,000/-
Section 80DD – Maintenance, including medical treatment of a dependent who is a person with disability Rs. 50,000/- Rs. 75,000/-
Section 80DD – Maintenance, including medical treatment of a dependent who is a person with severe disability Rs. 1,00,000/- Rs. 1,25,000/-
Section 80U – Person with disability 50% to 80% Rs. 50,000/- Rs. 75,000/-
Section 80U – Person with severe disability,above 80% Rs. 1,00,000/- Rs. 1,25,000/-
Section 80CCC – Contribution to provident fund of LIC or IRDA approved insurer Rs. 1,00,000/- Rs. 1,50,000/-
Section 80CCD – Contribution by the employee to National Pension Scheme (NPS) Rs. 1,00,000/- Rs. 1,50,000/-

Now under Section 80CCD, a deduction of upto Rs. 50,000  is allowed over and above the limit of Rs. 1.50 lakh under Section 80C  in respect of contributions made to NPS is also allowed.   Thus, now the total deduction that can be claimed under Section 80C+Section 80CCD = Rs 2 lakh.

In case any employer contributes to the NPS scheme on behalf of the employee and the benefit of the same would be availed by the employee, the employee would also be allowed a deduction under Section 80CCD(2) for the amount of contribution made by the employer.

As per Budget 2015 Guess your Tax Liability for the Financial Year 2015-16 and Ass Year 2016-17 with TDS on Salary All in One for Govt and Non Govt employees for FY 2015-16


Download the All in One TDS on Salary for Govt & Non Govt employees for Financial Year 2015-16 and Assessment Year 2016-17 [ This Excel Based Software can prepare at a time Tax Compute Sheet + Automatic HRA Calculation + Automatic Arrears Relief Calculation with Form 10E + Automatic Form 16 Part A&B and Form 16 Part B for A.Y.2016-17]

As per the Central Finance Budget 2015, it is clear that the Tax Slab have not changed, but some of the limit of Tax Section has hike and one more deduction has include U/s 80C in the name of Sukanya Samriddhi Account.

 As the financial Year 2015-16 and Assessment Year 2016-17 is just now started and the Advance Tax will be paid for this financial year very shortly. So it is necessary to calculate your Tax Liability

for the Financial Year 2015-16.

 Most of the tax changes is given below for the Financial Year 2015-16 :-
  1. Section 80D is hike the max limit Rs. 25,000/- for below 60 years and Rs.30,000/- for Sr.Ctzn.
  2. Section 80U has raised the Max limit Rs. 25,000//-
  3. Section 80DDB hike the Max Limit Rs. 80 thousand
  4. Section 80 the Travelling Allowances has hike the Max Limit Rs. 19200/- P.A.
  5. Section 80CCC has hike the Max Limit Rs. 1.5 Lakh as the previous year’s was Rs. 1 Lakh

The itaxsoftware.net has prepared a Excel Based Advance Tax Calculator for Govt and Non Govt employees for the Financial Year 2015-16 and Assessment Year 2016-17 with the Automated Arrears Calculator with Form 10E since FY 2000-01 to 2015-16 and Automated House Rent Exemption Calculation U/s 10(13A). This Excel Utility can use both are Govt and Non-Govt employees with Salary Structure.

Main Input Sheet

Salary Structure 

Tax Compute Sheet

Download the All in One TDS on Salary for Govt & Non Govt employees for Financial Year 2015-16 and Assessment Year 2016-17 [ This Excel Based Software can prepare at a time Tax Compute Sheet + Automatic HRA Calculation + Automatic Arrears Relief Calculation with Form 10E + Automatic Form 16 Part A&B and Form 16 Part B for A.Y.2016-17]

Is Section 87A continue after Budget 2014? Plus Automated TDS on Salary for Only Private Employees for the Financial Year 2014-15


Click above link to download the All in One Income Tax Calculator for Financial Year 2014-15 ( This Excel Utility can prepare at a time Tax Compute Sheet + HRA Exemption+Form 16 Part A&B and Part B only for Private Employees)

Section 87A after Budget 2014

 The existence of section 87A after budget 2014, since there were no words on the section 87A in the budget, many of our readers are eager to know whether the section 87A still exists or faded away like section 80EE.??
There is good news for all assessees who are getting benefited by section 87A because it will continue to give benefit this year also. Since section 87A is neither withdrawn nor was it for a particular year like section 80EE, so it still holds the ground. Even the Online Tax Calculator present on the Income Tax Site also calculates tax after taking tax rebate u/s 87A into account.

Thus assessee having gross total income between Rs.2.5 lakh to Rs.5 lakh are still able to reduce their tax liability by Rs 2,000. Essentially, there is NIL tax liability for annual incomes up to Rs.2.70 lakh. Calculate your Income tax by this Excel Based Income Tax Preparation Software for the Financial Year 2014-15

Now the tax will be calculated for the current year after giving effect to section 87A.

Click here to download the All in One Income Tax Calculator for the Financial Year 2014-15 (Prepare at a time Automated Tax Compute Sheet + HRA Calculation + Form 16 Part B and Part A&B for the Private employees for the Financial Year 2014-15 )