Free Download Automated Income Tax Form 16 Part B, Part A&B, Form 16 +24Q & 26Q, Form 16 + 12 BA for the Financial year 2014-15 & Ass Yr 2015-16 as per new Tax Slab

The Financial Year 2014-15 & Assessment Year 2015-16 has already started and also the Central Finance Budget has already Passed for the Financial Year 2014-15. Some Major Changes have made in this Finance Budget

The Income Tax Slab has enhanced up to Rs. 2,50,000/- below 60 years age and the Income Tax Section 80 C has also raised from 1 lakh to 1.5 Lakh. One New Income Tax Section have introduce in this Budget U/s 80C as Kissan Vikas Patra                 ( K.V.P.). The P.P.F Max Limit also raised from 1 lakh to 1.5 Lakh.

Most of the Tax Payers looking for the Tax Rebate as previous years Rs. 2000/- U/s 87A is also continue in this Financial Year alongwith the Section 80 TTA ( Savings Bank Interest up to Rs. 10,000/-)

As the Finance Budget Passed in the middle time of the Financial Year 2014-15, and the 1Quarter of 24Q is passing now.

Most of the Govt and Non Govt Concerned was confused for, "how to calculate the Income Tax" as the Tax Slab have not Finalised by the Finance Minister till June 2014. Now it is Clear the Tax Slab and other changes of Income Tax.

As per the New Finance Budget, the itaxsoftware.net have prepared the Automated Form 16 Part B and Part A&B, Part B with 24Q & 26Q and Form 16 Part B with Form 12 BA. for the Financial Year 2014-15 & Assessment Year 2015-16
Main Feature of these Excel Utility :-
  • Automatic prepare Form 16 for the Financial Year 2014-15
  • Prevent the Double Entry of Pan No and Employee’s Name
  • The Salary Sheet which is fit for any Govt or Non Govt Concerned
  • Automatic Convert the Amount in to the In Word
  • The New Tax Slab follows in these all of Utility
  • The New Income Tax Section and the Modified U/s 80 C is updated as per the Financial Budget 2014-15
  • These Utility can use both of Govt & Non-Govt Concerned Employees
  • The Salary Structure with Income Tax Deduction Section have in this Salary Structure as per the Income Tax Rules.(Amended)
Download from below link as Automated Form 16 for Financial Year 2014-15 & Ass Year 2015-16 
  
[This Excel Utility can Calculate Income Tax and Prepare at a time 50 employees Form 16 Part B ]


3) Click here to Download Master of Form 16 Part B for the Financial Year 2014-15  & Assessment Year 2015-16 
[This Excel Utility can Calculate Income Tax and[Prepare at a time 100 employees Form 16 Part B ]


4) Click here to Download Master of Form 16 Part B with 24Q & 26Q for Financial Year 2014-15 
This Excel Utility can Calculate Income Tax and Prepare at a time 50 employees Form 16 Part B with 24Q & 26Q for FY 2014-15 ]


[ Prepare at a time 50 employees Form 16 Form 16 Part A&B ]



[ Prepare at a time 100 employees Form 16 Form 16 Part A&B ]


7) Click here to download Master of Form16 Part B  with Form 12 BA for AY 2014-15 [ This utility  Can prepare at a time 50 employees Form 16 Part B + 12 BA]


Tax saving options other than Section 80C, is available in the Income Tax, with Automatic TDS on Salary for Non-Govt employees for FY 2014-15

Click here to download the All in One TDS on Salary for Only Non-Govt Employees for the Financial Year 2014-15( Tax Compute + HRA Exemption + Individual Salary Sheet + Salary Structure + Form 16 Part B + Form 16 Part A&B) for FY 2014-15

Most of the Income Tax Payees are known to save the Income Tax from the Income Tax Section 80 C, but in the Income Tax Act, several Section which can reduce your Tax Liability by this Section. All the Details are given below:- 
Before you calculate your tax liabilities, remember to analyze the various sections of tax deductions under the Income Tax Act as tax planning does not end with Section 80C. Calculate your tax liability here)

Click here to download the All in One TDS on Salary for Only Non-Govt Employees for the Financial Year 2014-15( Tax Compute + HRA Exemption + Individual Salary Sheet + Salary Structure + Form 16 Part B + Form 16 Part A&B) for FY 2014-15

80D:
Tax deduction under section 80D qualifies for mediclaim policies. The premium, which is paid for medical insurance policy for self and family members to protect them from sudden medical expenses, comes under this section. The maximum amount allowed for exemption annually for self, spouse and dependent parents/children is Rs. 15,000. In case of a senior citizen, the maximum amount extends up to Rs. 20,000. If you are paying the premium for your parents (whether dependent or not), you can claim an additional maximum deduction of Rs. 15,000.
80DD:
According to the Income Tax Act, if you are paying a premium to LIC or any other insurance company (approved by the Income Tax board) for the medical treatment of a dependent physically disabled person, you can avail exemption under the section 80DD. Here, the dependent should be none other than your spouse, children, parents or sibling. If the person is suffering from 40 per cent of any disability, a fixed sum of Rs. 50,000 can be claimed in a year. Similarly, if the disability is 80 per cent, the fixed sum goes up to Rs. 1,00,000 per year. For initiating the process of deduction you need to submit the medical certificate issued by a medical authority along with the return of income.
80DDB:
If you have incurred expenses for the medical treatment of self or your dependents, you can claim a deduction of up to Rs. 40,000 or the actual amount paid, whichever is less, under the section 80DDB. For a senior citizen, the maximum exempted amount is Rs. 60,000, or the amount actually paid for medical expenses. To claim a deduction under this section, you need to submit a medical certificate from a doctor working in a government hospital.
80E:
The interest paid on loan taken for pursuing higher education of self or any dependent is exempted from tax under section 80E. An education loan can be taken for wife, children and minors for whom you are the legal guardian. This deduction is applicable for a period of eight years or till the interest is paid, whichever is earlier. The deduction is only approved for higher studies, which means full-time graduate or postgraduate courses in engineering, management or applied sciences, pure sciences including mathematics or statistics. However, from 2011 onwards, the scope of this exemption has been extended to cover all fields of studies including vocational studies pursued after completing the senior secondary examination or equivalent. No exemption is applicable for part-time courses.
80EE :
The Interest paid after 1/4/2013 this section can get extra benefits or  relief from House Building Loan Interest up to Rs. 1 Lakh, this Section has already introduce from the Financial Year 2013-14 and subsequent Financial year also. This Section is separate from the Income Tax Section 24B
80G:
One often donates on philanthropic grounds to help the destitute. Such an amount can be donated to trusts, charitable institutions and approved educational institutions, and qualifies for deduction under Section 80G. The exemptions can be up to 50 per cent or 100 per cent of the donations made. Funds in which the donations are eligible for tax exemptions include the National Defense Fund, Prime Minister Drought Relief Fund, National Foundation for Communal Harmony, National Children's Fund, Prime Minister's National Relief Fund, etc.
80GG:
If a salaried or self-employed person staying in a rented house does not receive any kind of HRA, they can claim a deduction under this section. However, you cannot avail any such benefit if you, your spouse and/or your child owns any residential accommodation in India or abroad. You can claim the least of the following under Section 80GG: 25 per cent of the total income, or Rs. 2000 per month, or excess of rent paid over 10 per cent of total income.
80GGC:
Any monetary contribution to any political party or electoral trust is eligible for tax exemption. Thus, your contribution, as a matter of appreciation for their work, will serve both the purposes.
80U:
A resident of India suffering from any kind of specified disability is eligible to claim tax deduction under this section. In order to enjoy this opportunity, one should be suffering from not less than 40 per cent of the following diseases: blindness, low vision, mental illness, mental retardation, hearing impairment. The deduction provided is flat Rs. 50,000, irrespective of the expense incurred. If the disability is severe, the deduction can be up to Rs. 1 lakh. One needs to provide a copy of all the certificates issued by a medical authority in order to avail this benefit.
80CCG:
The Finance Act 2012 introduced a new Section 80CCG to offer 50 per cent tax break to new investors who invest up to Rs. 50,000 and whose GTI is less than or equal to Rs. 10 lakh. It has been introduced for budding investors entering the equity markets for the first time and is a once-in-a-lifetime benefit.
80 TTA :-
By this section you can get Income Tax relief from your Savings Bank Interest Max Rs. 10 Thousand, who’s Taxable Income not more than 5 Lakhs or above.
Hence, there are several sections apart from 80C that can help an individual benefit from tax exemptions. It is time to start looking beyond 80C for tax savings.

Click here to download the All in One TDS on Salary for Only Non-Govt Employees for the Financial Year 2014-15( Tax Compute + HRA Exemption + Individual Salary Sheet + Salary Structure + Form 16 Part B + Form 16 Part A&B) for FY 2014-15

Download All in One TDS on Salary For Govt & Non-Govt employees ( Tax Compute Sheet + Individual Salary Structure + Auto HRA Exemption Calculation + Auto Arrears Relief Calculation + Form 10E + Automated Form 16 Part B + Form 16 Part A&B) for the Financial Year 2014-15 & Ass Year 2015-16

As per the New Central Budget the Income Tax Slab has enhanced up to Rs. 2,50,000/- below 60 years age and the Income Tax Section 80 C has also raised from 1 lakh to 1.5 Lakh. One New Income Tax Section have introduce in this Budget U/s 80C as Kissan Vikas Patra ( K.V.P.). The P.P.F Max Limit also raised from 1 lakh to 1.5 Lakh.

Most of the Tax Payers looking for the Tax Rebate as previous years Rs. 2000/- U/s 87A is also continue in this Financial Year along with the Section 80 TTA ( Savings Bank Interest up to Rs. 10,000/-)

Following is the table indicating the impact of changes in income tax provisions proposed by Finance Minister Arun Jaitley in the Budget 2014-15. Tax exemption limit has been raised to Rs 2.5 lakh from Rs 2 lakh.
1) Here’s the tax slab for Individual Tax Payers:
Income Age (< 60 Years)
Tax Rate
Impact



Up to Rs 2,50,000
NIL
Rs. 5,000 (Savings)
Rs 2,50,001 to Rs 5,00,000
10 per cent
Rs. 5,000 (Savings)
Rs 5,00,001 to Rs 10,00,000
20 per cent
Rs. 5,000 (Savings)
Above 10,00,000     
30 per cent
Rs. 5,000 (Savings)
Here’s the tax slab for Senior Citizens:
Income (For Senior Citizens)(>60 & < 80 Years)
Tax Rate
Impact



Up to Rs 3,00,000
NIL
Rs. 5,000 (Savings)
Rs 3,00,001 to Rs 5,00,000
10 per cent
Rs. 5,000 (Savings)
Rs 5,00,001 to Rs 10,00,000
20 per cent
Rs. 5,000 (Savings)
Above 10,00,000     
30 per cent
Rs. 5,000 (Savings)
Tax Slab for an Individual (resident & above 80 years)
Income Slabs (> 80 Years)
Tax Rates
Total income up to Rs. 5 Lac
0% Tax
Total income above Rs. 5 Lac and below Rs.10 Lac
20% on Income exceeding Rs. 5 Lac
Total income more than Rs. 10 Lac
30% on Income exceeding Rs. 10 Lac + Rs. 1 Lac

Most of the Govt and Non Govt Concerned was confused about  "how to calculate the Income Tax" as the Tax Slab have not Finalised by the Finance Minister till June 2014. Now it is Clear the Tax Slab and other changes of Income Tax.

As per the New Finance Budget, the itaxsoftware.net have prepared the Automated All in One TDS on Salary for Govt & Non Govt Employees for the Financial Year 2014-15 & Assessment Year 2015-16 ( Tax Compute Sheet + Individual Salary Structure + Auto HRA Exemption Calculation + Auto Arrears Relief Calculation + Form 10E + Automated Form 16 Part B + Form 16 Part A&B for the Financial Year 2014-15 & Ass Year 2015-16)

Main Feature of these Excel Utility :-
  • Automatic Prepare at a time your Tax Compute Sheet + Individual Salary Structure + Auto HRA Exemption Calculation + Auto Arrears Relief Calculation + Form 10E + Automated Form 16 Part B + Form 16 Part A&B) for the Financial Year 2014-15 & Ass Year 2015-16
  • Auto Calculate House Rent Exemption Calculation U/s 10 (13A)
  • Auto Calculate Arrears Relief Calculation with Form 10E from the FY 2000-01 to FY 2014-15
  • In built the Salary Structure for Govt and Non-Govt Employees,for easy to calculate the Gross Salary Income
  • The Salary Structure have built as per the Govt & Non-Govt Salary Pattern
  • Individual Tax Compute Sheet ( For Print & Submit)
  • Individual Salary Sheet ( For Print & submit)
  • Automated Form 16 Part B ( As per the Latest Tax Slab & Section)
  • Automated Form 16 Part A&b
  • All the new amended Tax Section have in these Utility

Download from below link as Automated All in One TDS On Salary For the Financial Year 2014-15 & Ass Year 2015-16 

1) Click here to Download All in One for Govt & Non Govt Employees for the Financial Year 2014-15 & Ass Year 2015-16 

(Only for Govt and Non-Govt Employees, Both are entitled)


2) Click here to Download All in One for Central Govt Employees for the FY 14-15

    ( Only for Central Govt employees )

3) Click here to Download All in One for Only Non-Govt Employees for FY 2014-15

      ( Only for Non-Govt Employees)

4) Click here to Download Only Govt Employees All in One for FY 2014-15

     ( Only for Any State Govt Employees)

5) Click here to Download Only for West Bengal Govt Employees All in One for FY 2014-15 ( Only for West Bengal Govt Employees)


6) Click here to Download Only Gujarat State Employees All in One for FY 2014-15

      ( Only for State of Gujarat State Employees )

Prepare at a time 100 employees Form 16 Part A&B and Part B with Tax Calculator For Govt & Non Govt Concerned for the Financial Year 2014-15 & Ass Year 2015-16

Click here to Download the Master of Form 16 Part A&B (For 100 employees) for Financial Year 2014-15 ( This Utility can prepare at a time 100 employees Form 16 Part A&B for FY 2014-15)

Click here to Download the Master of Form 16 Part B ( For 100 employees) for the Financial Year 2014-15( This Utility can prepare at a time 100 employees Form 16 Part B for FY 2014-15)


The New Central Finance Budget has already passed and the Income Tax Slab have raised from 2 laks to 2.5 Lakhs for below 60 years Age and the Slab to the Sr.Citizen above 60 and below 80 years age is Rs.3 Lakh instead of Rs.2.5 Lakh. Some amended also included in this Finance Budget like as the Kissan Vikas Patra (K.V.P.) have introduce in the Section of 80 C. The 80 C has also raised up to Rs. 1.5 lakh as the before was 1 Lakh.

The Tax Rebate Rs.2,000/- U/s 87A & Savings Bank Interest relief up to Rs. ten thousand U/s 80 TTA is still available in this financial year. Hope it will be the great news to the Salaried Persons.

Some of the Govt and Non Govt Concerned have above 100 employees working and most of the employees are in this Income Tax Slab, who's Income Tax Calculation and Preparation of Form 16 must be prepare and distribute to them after end of this Financial Year.

As per the CBDT new notification that the format of  Form 16 has already Changed and this Form 16 have in two parts. One is Part A and another is Part B. In the Form 16 Part A have the details of Tax Deducted and deposited to the Central Govt and the Part B of Form 16 have the details of employee's Salary Details including the Total Tax Deducted and deposited to the Central Govt.

Another Notification by the CBDT it is mandatory to download the Form 16 Part A from the TRACES Portal ( http://www.tdscpc.gov.in) and the Form 16 Part B is mandatory to prepare by the employer/deductor of each Govt or Non Govt Concerned.

Now it is question that the most of the Concerned have not know about this new CBDT notification and they could not able to download the Form 16 Part A from the TRACES Portal, as download the Part A from the Portal is most litigated. Who are able to download the Part A they can issue only the Form 16 Part B, but who are not able to download the same they have to need the both of Form 16 Part A&B for issue to their employees.

Given below the Excel Based Software which can prepare at a time 50 employees Form 16 Part A&B (Both) for the Financial Year 2014-15 and Assessment Year 2015-16

Main feature of this Excel Utility :-

  • Prepare at a time 100 employees Form 16 Part A&B for FY 2014-15
  • Auto Calculate the Income Tax of each Employees as per the new Tax Slab FY 14-15
  • Auto generate the Form 16 Part A&B
  • Complete Salary Structure for calculating the Gross Salary Income. 
  • The Salary Structure prepare as per the all Govt and Non Govt concerned Salary Pattern
  • All the Income Tax (Amended) have in this Utility
  • Automatic Convert the Amount in to the In Words

Click here to Download the Master of Form 16 Part A&B (For 100 employees) for Financial Year 2014-15( This Utility can prepare at a time 100 employees Form 16 Part A&B for FY 2014-15)

Click here to Download the Master of Form 16 Part B ( For 100 employees) for the Financial Year 2014-15( This Utility can prepare at a time 100 employees Form 16 Part B for FY 2014-15)

New rule lowers HRA exemption claim limit & mandatory to submit the PAN of Land Lord if HRA is over 1 Lakh P.A, with Automatic HRA Calculator

Click here to Download the Automated HRA Exemption Calculator ( Updated)

If you are a salaried taxpayer claiming HRA(house rent allowance) deduction, watch out. The central government has lowered the exemption limit for reporting the rent received. Salaried taxpayers claiming HRA exemption and paying a rent of over Rs 1 lakh per year have to give landlord’s PAN (permanent account number). Till now, if the total rent paid was less than Rs 15,000 a month there was no need to submit the landlord's PAN details. The new rule effectively lowers the rent limit from Rs 15,000 a month to Rs 8,333 per month for claiming HRA exemption without making any disclosures.


"Further, if annual rent paid by the employee exceeds Rs 1,00,000 per annum, it is mandatory for the employee to report PAN of the landlord to the employer," the Central Board of Direct Taxes said in its latest circular. "In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employee," it said.

Though incurring actual expenditure on payment of rent is a pre-requisite for claiming deduction under section 10(13A) of the I-Tax Act, it has been decided as an administrative measure that salaried employees drawing HRA up to Rs 3,000 per month will be exempted from production of rent receipt.

  
The new rule is aimed at people claiming HRA exemption for living in their own house. "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," CBDT said in its circular.


Thus, HRA granted to an employee who is residing in a house/flat owned by him is not exempt from income-tax. "The disbursing authorities should satisfy themselves in this regard by insisting on production of evidence of actual payment of rent before excluding the house rent allowance or any portion thereof from the total income of the employee," CBDT said.


Click here to Download the Automated HRA Exemption Calculator ( Updated)


Source The Times of India

You can claim House Rent Exemption in Income Tax even you are not receiving House Rent from your Employer, Plus Download TDS on Salary for Govt & Non Govt employees for FY 2014-15

( This Utility can prepare at a time Tax Compute Sheet + Automatic House Rent Exemption Calculation + Arrears Relief Calculation + Form 10E + Form 16 Part A&B and Part B for Govt & Non Govt Employees)

Deduction under section 80GG for house rent paid:
Deduction u/s 80GG is available if following condition are satisfied
·                                 Deduction is available to Individual Assessee only.

·                                 He has not received HRA(house rent allowance ) from his employer if he     is a salaried person otherwise he should be self employed.

·                                 He has paid house rent for his own residence.

·                                 He or his spouse or his minor child or HUF(of which he has a member) should not have a residential house where he ordinarily resides or performs duties of his office or employment or carries on his business or profession;

·                                 He should not have a house owned by him, which is under his occupation and value of that is not being taken as nil under section 23(2)(a) or 23(4).

·                                 A declaration on Form 10BA should be submitted .
so if conditions are satisfied then he can claim deduction u/s 80GG for house rent paid

Amount of deduction:
Least of the following is deductible u/s 80GG
1.                      Rs 2000 per month for the Assessment year 1987-88 onwards.
2.                       25 % of total income

3.                        the excess of actual rent paid over 10 % of total income

Total Income means income excluding long term and short term gain under section 111A and income referred to in section 115A or 115D but before making any deduction under section 80C to 80U.

( This Utility can prepare at a time Tax Compute Sheet + Automatic House Rent Exemption Calculation + Arrears Relief Calculation + Form 10E + Form 16 Part A&B and Part B for Govt & Non Govt Employees)