Download and Prepare at a time 50 Employees Automated Income Tax Form 16 Part A&B For Financial Year 2019-20 & Ass Year 2020-21( Modified Format of Form 16 Part B [ As per the CBDT Notification No.36/2019 Dated 12/04/2019

The CBDT has changed the format of Income Tax Form 16 Part B for the Financial Year 2018-19 since the 12 May  2019. This Format is more explore the employee’s Salary Details.

Download And Prepare At a Time 50 Employees  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare At a time 50 Employees Form 16 Part Bin New Format for A.Y. 2020-21]

  The main feature of this Excel Utility:-

1)  Prepare At time 50 Employees  Excel Based  Form 16 Part A&B ( Modified Format of Form 16 Part B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]

2)  All the Amended Income Tax Section have in this utility as per Budget 2019

3)  You can print individual Form 16 Part Part A&B

4)  Most easy to install just like an Excel File

5)  Easy to Fill all column

6)  Automatic Convert the Amount to the In-Words

Read More

Section 80E: Tax Exemption on Interest on Education Loan with Automated Income Tax Master of Form 16 Part A&B in Revised Format for the Financial Year 2019-20

Section 80E allows deduction in respect of payment of interest on loan taken from any the financial institution or any approved charitable institution for higher education for the purpose of pursuing his higher education or for the purpose of higher education of his spouse or his children or the student for whom he is the legal guardian.

The deduction shall be allowed in computing the total income for the Financial year in which the employee starts paying the interest on the loan taken and immediately succeeding seven Financial years or until the Financial year in which the interest is paid in full by the employee, whichever is earlier.

For the purpose of this section –

(a) “approved charitable institution” means an institution established for charitable purposes and approved by the prescribed authority section 10(23C), or an institution referred to in section 80G(2)(a);

(b) “financial institution” means a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act); or any other financial institution which the Central The government may, by notification in the Official Gazette, specify in this behalf;

(c) “higher education‖ means any course of study pursued after passing the Senior Secondary Examination or it's equivalent from any school, board or university recognized by the Central Government or State Government or local authority or by any other authority authorized by the Central Government or State Government or local authority to do so;

Download And Prepare At a Time 100 Employees  Automated Income Tax Form 16 Part B (Modified Format) [This Excel Utility Prepare At a time 100 Employees Form 16 Part B in New Format for A.Y. 2020-21]

  The the main feature of this Excel Utility:-

1)   Prepare At time 100 Employees  Excel Based  Form 16 Part A&B ( Modified Format of Form 16 Part B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]

2)   All the Amended Income Tax Section have in this utility as per Budget 2019

3)   You can print individual Form 16 Part  A&B

4)   Most easy to install just like an Excel File

5)   Easy to Fill all column

6)   Automatic Convert the Amount to the In-Words

Read More

Download Automated Master of Form 16 Part A&B for F.Y.2019-20 with Changes in Income Tax Rules as per the Central Budget 2019:

1.               Rebate under Section 87A changed from Rs 2,500 to Rs 12,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 5 Lakhs (from Rs 3.5 Lakhs)

2.               Standard Deduction raised for Salaried & Pensioners from Rs 40,000 to Rs 50,000

3.               Increased Tax for the super-rich: Surcharge increased to 25% for income between 2 to 5 crore & to 37% for income beyond Rs 5 crores

4.               Additional Tax Deduction of Rs 1.5 lakhs u/s 80EEA on home loans on purchase of the affordable home

5.               Additional Tax Deduction of Rs 1.5 lakhs u/s 80EEB on Auto loans on purchase of Electric vehicles

6.               No Tax on Notional Rental Income from Second House

7.    TDS threshold increased from Rs 10,000 to Rs 40,000 on Bank Interest Income

Income Tax Slab for FY 2019-20 [AY 2020-21]

Download And Prepare At a Time 100 Employees  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare At a time 100 Employees Form 16 Part A&B in New Format for A.Y. 2020-21]

  The main feature of this Excel Utility:-

1) Prepare At time 100 Employees  Excel Based  Form 16 Part A&B ( Modified Format of Form 16 Part A&B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]( Who have not able to Download the Form 16 Part A from the Income Tax Traces Portal, they can use this Excel Utility)

1)   All the Amended Income Tax Section have in this utility as per Budget 2019

2)   You can print individual Form 16 Part Part A&B

3)   Most easy to install just like an Excel File

4)   Easy to Fill all column

5)   Automatic Convert the Amount to the In-Words

Read More

Download Automated Master of Form 16 Part A&B for F.Y.2019-20 with Changes in Income Tax Rules as per the Central Budget 2019:

1.               Rebate under Section 87A changed from Rs 2,500 to Rs 12,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 5 Lakhs (from Rs 3.5 Lakhs)

2.               Standard Deduction raised for Salaried & Pensioners from Rs 40,000 to Rs 50,000

3.               Increased Tax for the super-rich: Surcharge increased to 25% for income between 2 to 5 crore & to 37% for income beyond Rs 5 crores

4.               Additional Tax Deduction of Rs 1.5 lakhs u/s 80EEA on home loans on purchase of the affordable home

5.               Additional Tax Deduction of Rs 1.5 lakhs u/s 80EEB on Auto loans on purchase of Electric vehicles

6.               No Tax on Notional Rental Income from Second House

7.    TDS threshold increased from Rs 10,000 to Rs 40,000 on Bank Interest Income

Income Tax Slab for FY 2019-20 [AY 2020-21]

Download And Prepare At a Time 100 Employees  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare At a time 100 Employees Form 16 Part A&B in New Format for A.Y. 2020-21]

  The main feature of this Excel Utility:-

1) Prepare At time 100 Employees  Excel Based  Form 16 Part A&B ( Modified Format of Form 16 Part A&B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]( Who have not able to Download the Form 16 Part A from the Income Tax Traces Portal, they can use this Excel Utility)

1)   All the Amended Income Tax Section have in this utility as per Budget 2019

2)   You can print individual Form 16 Part Part A&B

3)   Most easy to install just like an Excel File

4)   Easy to Fill all column

5)   Automatic Convert the Amount to the In-Words

Read More

INCOME TAX REBATE RS.12,500/- U/S 87A WITH AUTOMATED 50 EMPLOYES MASTER OF FORM 16 PART A&B IN NEW FORMAT FOR THE F.Y 2019-20 & AY 2020-21

Revised Rebate under Section 87A

Tax rebate of Rs 12,500 for individuals with a taxable income of up to Rs 5 Lakh has been proposed in Interim-Budget 2019-20-18 / AY 2020-21 as well.

• Only Individual Assesses earning net taxable income up to Rs 5 lakhs are eligible to enjoy tax rebate u/s 87A.

• For Example: Suppose your yearly pay comes to Rs 6,50,000 and you claim Rs 1,50,000 u/s 80C. The total net income in your case comes to Rs 5,00,000 which makes you eligible to claim a tax rebate of Rs 12,500.

• The amount of tax rebate u/s 87A is restricted to a maximum of Rs 12,500. In case the computed tax payable is less than Rs 12,500, say Rs 10,000 the tax rebate shall be limited to that lower amount i.e. Rs 10,000 only.

• The Tax Assessor is first required to add all incomes i.e. salary, house income, capital gains, business or profession income and income from other sources and then deduct the eligible tax deduction amounts u/s 80C to 80U and under section 24(b) (Home Loan Interest) to come up with the net taxable income.

• If the above net taxable income happens to be less than Rs 5 lakhs then the tax rebate of Rs 12,500 comes into the picture and should be deducted from the calculated total income tax payable.

Download And Prepare At a Time 50 Employees  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare At a time 50 Employees Form 16 Part A&B in New Format for A.Y. 2020-21]( Who are not able to Download Form 16 Part A from the TRACES Portal, they can use this Form 16 Part A&B)

 The main feature of this Excel Utility:-

1)   Prepare At time 50 Employees  Excel Based  Form 16 Part A&B ( Modified Format of Form 16 Part A&B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]

2)   All the Amended Income Tax Section have in this utility as per Budget 2019

3)   You can print individual Form 16 Part Part B

4)   Most easy to install just like an Excel File

5)   Easy to Fill all column

6)   Automatic Convert the Amount to the In-Words

Read More

INCOME TAX REBATE RS.12,500/- U/S 87A WITH AUTOMATED 50 EMPLOYES MASTER OF FORM 16 PART A&B IN NEW FORMAT FOR THE F.Y 2019-20 & AY 2020-21

Revised Rebate under Section 87A

Tax rebate of Rs 12,500 for individuals with a taxable income of up to Rs 5 Lakh has been proposed in Interim-Budget 2019-20-18 / AY 2020-21 as well.

• Only Individual Assesses earning net taxable income up to Rs 5 lakhs are eligible to enjoy tax rebate u/s 87A.

• For Example: Suppose your yearly pay comes to Rs 6,50,000 and you claim Rs 1,50,000 u/s 80C. The total net income in your case comes to Rs 5,00,000 which makes you eligible to claim a tax rebate of Rs 12,500.

• The amount of tax rebate u/s 87A is restricted to a maximum of Rs 12,500. In case the computed tax payable is less than Rs 12,500, say Rs 10,000 the tax rebate shall be limited to that lower amount i.e. Rs 10,000 only.

• The Tax Assessor is first required to add all incomes i.e. salary, house income, capital gains, business or profession income and income from other sources and then deduct the eligible tax deduction amounts u/s 80C to 80U and under section 24(b) (Home Loan Interest) to come up with the net taxable income.

• If the above net taxable income happens to be less than Rs 5 lakhs then the tax rebate of Rs 12,500 comes into the picture and should be deducted from the calculated total income tax payable.

Download And Prepare At a Time 50 Employees  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare At a time 50 Employees Form 16 Part A&B in New Format for A.Y. 2020-21]( Who are not able to Download Form 16 Part A from the TRACES Portal, they can use this Form 16 Part A&B)

 The main feature of this Excel Utility:-

1)   Prepare At time 50 Employees  Excel Based  Form 16 Part A&B ( Modified Format of Form 16 Part A&B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]

2)   All the Amended Income Tax Section have in this utility as per Budget 2019

3)   You can print individual Form 16 Part Part B

4)   Most easy to install just like an Excel File

5)   Easy to Fill all column

6)   Automatic Convert the Amount to the In-Words

Read More

Download and Prepare One by One Automated Income Tax Form 16 Part A and Part A&B For Financial Year 2019-20 & Ass Year 2020-21( Modified Format of Form 16 Part B [ As per the CBDT Notification No.36/2019 Dated 12/04/2019

The CBDT has changed the format of Income Tax Form 16 Part B for the Financial Year 2018-19 since the 12 May  2019. This Format is more explore the employee’s Salary Details.

Download And Prepare One by One  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare One by One Form 16 Part B in New Format for A.Y. 2020-21 ]

The main feature of this Excel Utility:-

1)   Prepare One by One Excel Based  Form 16 Part A and Part  A&B ( Modified Format of Form 16 Part B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]

2)   All the Amended Income Tax Section have in this utility as per Budget 2019

3)   You can print individual Form 16 Part Part A and partA&B

4)   Most easy to install just like an Excel File

5)   Easy to Fill all column

6)   Automatic Convert the Amount to the In-Words

Read More

Download and Prepare at a time 50 Employees Automated Income Tax Form 16 Part A&B For Financial Year 2019-20 & Ass Year 2020-21( Modified Format of Form 16 Part B [ As per the CBDT Notification No.36/2019 Dated 12/04/2019

The CBDT has changed the format of Income Tax Form 16 Part B for the Financial Year 2018-19 since the 12 May  2019. This Format is more explore the employee’s Salary Details.

Download And Prepare At a Time 50 Employees  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare At a time 50 Employees Form 16 Part B in New Format for A.Y. 2020-21 ] ( Who are not able to download the Form 16 Part A from the TRACES Portal, they can use this utility)

The main feature of this Excel Utility:-

1)   Prepare At time 100 Employees  Excel Based  Form 16 Part A&B ( Modified Format of Form 16 Part B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]

2)   All the Amended Income Tax Section have in this utility as per Budget 2019

3)   You can print individual Form 16 Part Part A&B

4)   Most easy to install just like an Excel File

5)   Easy to Fill all column

6)   Automatic Convert the Amount to the In-Words

Read More

Download and Prepare at a time 50 Employees Automated Income Tax Form 16 Part A&B For Financial Year 2019-20 & Ass Year 2020-21( Modified Format of Form 16 Part B [ As per the CBDT Notification No.36/2019 Dated 12/04/2019

The CBDT has changed the format of Income Tax Form 16 Part B for the Financial Year 2018-19 since the 12 May  2019. This Format is more explore the employee’s Salary Details.

Download And Prepare At a Time 50 Employees  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare At a time 50 Employees Form 16 Part B in New Format for A.Y. 2020-21 ] ( Who are not able to download the Form 16 Part A from the TRACES Portal, they can use this utility)

The main feature of this Excel Utility:-

1)   Prepare At time 50 Employees  Excel Based  Form 16 Part A&B ( Modified Format of Form 16 Part B Vide CBDT Notification No.36/2019 Dated 12/04/2019 ]

2)   All the Amended Income Tax Section have in this utility as per Budget 2019

3)   You can print individual Form 16 Part Part A&B

4)   Most easy to install just like an Excel File

5)   Easy to Fill all column

6)   Automatic Convert the Amount to the In-Words

Read More