Showing posts with label Revised New Form 16 Part B for F.Y. 2019-20. Show all posts
Showing posts with label Revised New Form 16 Part B for F.Y. 2019-20. Show all posts

Thursday, 6 February 2020

Download Automated All in One TDS on Salary West Bengal Govt Employees for the F.Y. 2019-20 with Automated H.R.A. Exemption Calculator U/s 10(13A) + Automated Revised Form 16 Part B and Form 16 Part A&B

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As per the Finance Budget 2019, some Important Income Tax Section and Income Tax Rebate has changed.
1) Income Tax Slab for the Financial Year 2019-20 is Same as Previous F.Y.2018-19
2) Raised the Income Tax Rebate U/s 87A up to Rs. 12,500/- who's Taxable Income less than 5 Lakh.
3) Raised the Income Tax Standard Deduction U/s16(ia) from Rs. 40,000/- to  50,000/-
4) Raised the Tax Exemption from the Bank/Post Office Savings Interest from 10,000/- to 50,000/-
5) Introduce New Section 80EEA for New Home Loan Interest Rs.1.5 Lakh.

Download All in One TDS on Salary for West Bengal Govt Employees for the F.Y. 2019-20 With H.R.A. Exemption Calculation U/s10(13A) + Automated Revised Form 16 Part B and Form 16 Part A&B for F.Y.2019-20




  The feature of this Excel The utility is the following:-

1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 2019
2) The Salary Structure as per the West Bengal Govt employee’s Salary Pattern (As per ROPA 2019)
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee 
5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)
6) Automated Income Tax Revised Form 16 Part A&B for F.Y. 2019-20 in New Format
7) Automated Income Tax Revised Form 16 Part B for the F.Y. 2019-20 in New Format
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Wednesday, 5 February 2020

New Income Tax Slab for the Financial Year 2020-21 as per the Budget 2020 With Automated All in One TDS on Salary West Bengal Govt. Employees for the F.Y. 2019-20 with Automated H.R.A. Exemption Calculator U/s 10(13A) + Automated Revised Form 16 Part B and Form 16 Part A&B for F.Y. 2019-2020

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Budget 2020 has made the tax structure more complicated by adding three income tax slabs. The removal of tax exemptions and deductions certainly makes compliance less tedious, but avid tax planners who maximised their tax deductions will probably pay more tax under the new tax regime. The budget 2020 has tried to put more money in the hands of taxpayers by curtailing the incentives to save.
Even the claim that taxpayers will save tax under the new regime raises questions. Finance Minister Nirmala Sitharaman said in her budget speech that a taxpayer earning Rs 15 lakh will save Rs 78,000 in tax under the new regime. “A person earning Rs 15 lakh in a year and not availing any deductions and exemptions will pay only Rs 1.95 lakh tax as compared to Rs 2.73 lakh in the old regime,” said the Finance Minister.
New income tax slabs and rates

No change in tax exemption given to incomes up to Rs 5 lakh in interim.
But this is without any deductions under various sections of Chapter VI-A. If the taxpayer claims deductions for Rs 2.5 lakh (Rs 50,000 standard deduction, Rs 1.5 lakh under 80C and Rs 50,000 contribution to NPS), his tax will not change. If he also claims house rent allowance (HRA) exemption or home loan interest deduction of Rs 2 lakh, his tax in the old regime would be lower by Rs 46,800 (see graphics).
Salaried taxpayers who opt for the new regime will have to forgo the standard deduction as well as the exemptions under chapter VI-A, including the HRA, investments under Section 80C, medical insurance premium and even the leave travel allowance which is tax free if claimed once in a block of two years.
What’s out
Some of the 70 exemptions and deductions you won’t get in new regime.
  • Section 80C investments
  • House rent allowance
  • Housing loan interest
  • Leave travel allowance
  • Medical insurance premium
  • Standard deduction
  • Savings bank interest
  • Education loan interest
What stays
Some 50 tax exemptions have been left untouched. These include.
  • Standard deduction on rent
  • Agricultural income
  • Income from life insurance
  • Retrenchment compensation
  • VRS proceeds
  • Leave encasement on retirement
To be fair, taxpayers will have the option to switch to the new tax structure. “This is a good move because taxpayers will be able to make the choice depending on their financial situation,” says Sudhir Kaushik, co-founder of Tax spanner. “Taxpayers who avail several exemptions and deductions such as house rent allowance and 80C deductions may not benefit from switching to the new system,” says Amit Maheshwari, India Tax Leader at Ashok Maheshwary & Associates.
Original Source From:- Economic Times



 The feature of this Excel The utility is the following:-
1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 2019
2) The Salary Structure as per the West Bengal Govt. employee’s Salary Pattern (As per ROPA 2019)
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee 
5) This Excel Utility calculates your House Rent Exemption Calculation U/s 10(13A)
6) Automated Income Tax Revised Form 16 Part A&B for F.Y. 2019-20 in New Format
7) Automated Income Tax Revised Form 16 Part B for the F.Y. 2019-20 in New Format
Read More

Tuesday, 14 January 2020

Download Automated All in One TDS on Salary Govt and Non - Govt Employees for the F.Y. 2019-20 with Automated H.R.A. Exemption Calculator U/s 10(13A) + Automated Revised Form 16 Part B and Form 16 Part A&B + Automated Arrears Relief Calculator U/s 89(1) for F.Y.2019-20

, , , No comments

As per the Finance Budget 2019, some Important Income Tax Section and Income Tax Rebate has changed.
1) Income Tax Slab for the Financial Year 2019-20 is Same as Previous F.Y.2018-19
2) Raised the Income Tax Rebate U/s 87A up to Rs. 12,500/- who's Taxable Income less than 5 Lakh.
3) Raised the Income Tax Standard Deduction U/s16(ia) from Rs. 40,000/- to  50,000/-
4) Raised the Tax Exemption from the Bank/Post Office Savings Interest from 10,000/- to 50,000/-
5) Introduce New Section 80EEA for New Home Loan Interest Rs.1.5 Lakh.


Download All in One TDS on Salary for Govt and Non-Govt Employees for the F.Y. 2019-20 With H.R.A. Exemption Calculation U/s 10(13A) + Automated Arrears Relief Calculation U/s 89(1) with Form 10E from the F.Y. 2000-01 to F.Y. 201-9-20 + Automated Revised Form 16 Part B and Form16 Part A&B for F.Y. 2019-20






 The feature of this Excel The utility is the following:-

1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 2019
2) The Salary Structure as per the All of Govt and  Non-Govt(Private) employee’s Salary Pattern
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee 
5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)
6) Automated Income Tax Revised Form 16 Part A&B for F.Y. 2019-20 in New Format
7) Automated Income Tax Revised Form 16 Part B for the F.Y. 2019-20 in New Format



8) Automated Arrears Relief Calculation U/s 89(1) with Form 10E from F.Y. 2000-01 to F.Y. 2019-20
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Friday, 6 December 2019

What is the Maximum Income Tax You can Save for FY 2018-19? With Automated Excel Based TDS on Salary All in One for Govt & Govt Employees for F.Y. 2019-20

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Tax Sections Description Maximum Tax Exemption Limit (Rs.)180C/ 80CCC/ 80CCD Investment in EPF, ELSS, PPF, FD, NPS, NSC, Pension Plans, Life Insurance, SCSS, SSA and NPS. Also includes Home Loan Principal repayment, Tuition Fees, Stamp Duty.

Best Tax Saving Investments u/s 80C 150,000/-

80CCD(1B)Investment in NPS : Additional deduction Rs. 50,000/- out of U/s 80C
You can requirement requirement Tax Benefit on both HRA & Home Loan

80E Interest paid on Education Loan. No Limit – Rs 50,000 is just an unsupportable value

 Download All in One TDS on Salary for Govt & Non-Govt Employees for the F.Y. 2019-20With H.R.A. Exemption Calculation U/s 10(13A) + Automated Arrears ReliefCalculator U/s 89(1) with Form 10E + Automated Revised Form 16 Part B and Form16 Part A&B for F.Y. 2019-20



The feature of this Excel Utility is the following:-
1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 2019
2) The Salary Structure as per the Govt and All of Non-Govt(Private) employee’s Salary Pattern
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee 
5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)
6) Automated Income Tax Revised Form 16 Part A&B for F.Y. 2019-20 in New Format
7) Automated Income Tax Revised Form 16 Part B for the F.Y. 2019-20 in New Format
8) Automated Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y. 2000-01 to F.Y. 2019-20
Tax Benefit on Education Loan (Sec 80E)
50,000/-

80D Premium payment for medical insurance for self and parents. Includes Rs 5,000 limit for a preventive health checkup

Making Sense of Tax Benefit on Health Insurance u/s 80D
60,000/-

Download All in One TDS on Salary for Non-Govt Employees for the F.Y. 2019-20 With H.R.A. Exemption Calculation U/s 10(13A) +Automated Form 12 BA for F.Y. 2019-20+ Automated Revised Form 16 Part B andForm 16 Part A&B for F.Y. 2019-20




 The feature of this Excel Utility is the following:-
1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 2019
2) The Salary Structure as per the All of Non-Govt(Private) employee’s Salary Pattern
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee 
5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)
6) Automated Income Tax Revised Form 16 Part A&B for F.Y. 2019-20 in New Format
7) Automated Income Tax Revised Form 16 Part B for the F.Y. 2019-20 in New Format
8) Automated Value of Perquisite Calculator with Form 12 BA

80DDB Treatment of Serious illness for self and dependents for Senior Citizens Rs 40,000 for others)80,000

80U Physically Disabled Tax payer (Rs 75,000 for 40% to 80% powerlessness and Rs 1,25,000 for increasingly than 80%)125,0000

80DDPhysically Disabled Dependent (Rs 75,000 for 40% to 80% powerlessness and Rs 1,25,000 for increasingly than 80%)125,000

80GDonation to tried charitable funds like Prime Minister Relief fund, etc (assumed value)50,000/-

80GGA Donations for scientific research or rural minutiae (assumed value)50,000/-

80GGC Donations to political parties (assumed value)50,000/-

80TTA  interest received in Savings Account deduction from the Bank Savings Interest Rs. 40000/-

Maximum Limit  Requirement Tax Benefit for Rent Paid u/s 80GG?
60,000/-  (Who are not get House Rent Allowances from their employer)
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Sunday, 1 December 2019

Download Automated All in One TDS on Salary Non-Govt Employees for the F.Y. 2019-20 with Automated H.R.A. Exemption Calculator U/s 10(13A) + Automated Revised Form 16 Part B and Form 16 Part A&B + Automated Value of Perquisite Calculator with Form 12 BA.

, , , No comments

As per the Finance Budget 2019, some Important Income Tax Section and Income Tax Rebate has changed. The Major modification including the Income Tax Slab Rate for the F.Y. 2019-20 is given below.

1) Income Tax Slab for the Financial Year 2019-20 is Same as Previous F.Y.2018-19
2) Raised the Income Tax Rebate U/s 87A up to Rs. 12,500/- who's Taxable Income less than 5 Lakh.
3) Raised the Income Tax Standard Deduction U/s16(ia) from Rs. 40,000/- to  50,000/-

4) Raised the Tax Exemption from the Bank/Post Office Savings Interest from 10,000/- to 50,000/-
5) Introduced New Section 80EEA for New Home Loan Interest Rs.1.5 Lakh.




 The feature of this Excel Utility is the following:-
1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 2019
2) The Salary Structure as per the All of Non-Govt(Private) employee’s Salary Pattern
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee 
5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)
6) Automated Income Tax Revised Form 16 Part A&B for F.Y. 2019-20 in New Format
7) Automated Income Tax Revised Form 16 Part B for the F.Y. 2019-20 in New Format
8) Automated Value of Perquisite Calculator with Form 12 BA
Read More