Download and Prepare at a time 100 Employees Automated Income Tax Form 16 Part A&B For F.Y. 2019-20 & A.Y. 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 100 Employees  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare At a time 100 Employees Form16 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 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 100 Employees Automated Income Tax Form 16 Part A&B For F.Y. 2019-20 & A.Y. 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 100 Employees  Automated Income Tax Form 16 Part A&B (Modified Format) [This Excel Utility Prepare At a time 100 Employees Form16 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 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 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

Download Automated Income Tax Master of Form 16 Part B in new format for F.Y.2019-20 With Budget 2019: No tax on income up to Rs.5 lakh, standard deduction raised

·                       Govt increases the income tax exemption limit to Rs. 5 lakh per year.

·                       No TDS on post office savings up to Rs. 40,000/- U/s 80 TTA

The rebate under section 87A of Income-tax Act 1961, which is available since the assessment year 2014-15 is raised to Rs.12,500 from existing Rs.2,500. The amount of rebate is 100% of income tax payable on the total taxable income of up to Rs.5 lakh. A rebate is the amount of tax the taxpayer is not liable to pay. Total taxable income or net taxable income is the income after taking into account deductions.

Download Automated Income Tax Preparation Excel BasedSoftware for Govt & Non-Govt Employees for the F.Y.2019-20

So in the next Financial Year, if an the assessee has an income of up to Rs.5 lakh in the financial year, she is allowed to claim the entire tax payable as a tax rebate. For instance, if an assessee is having a gross income of Rs.6.5 lakh for the financial the year 2019-20, and makes an investment of Rs.1.5 lakh under section 80C her net taxable income comes down to Rs.5 lakh, on which her tax liability would be Rs.12,500 (5% of Rs.2.5 lakh) excluding cess (income up to Rs.2.5 lakh is exempt from tax). However, as her income is up to Rs5 lakh in the particular financial year, she is liable to claim a rebate of Rs.12,500 and thus her net tax payable would be zero. This means while the taxpayer is still liable to file her returns, the tax payable is zero. 

Download And Prepare At a Time 50 Employees  Automated Income Tax Form 16 Part B (Modified Format) [This Excel Utility PrepareAt a time 50 Employees Form 16 Part B in 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 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

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