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Saturday, 16 December 2017

The CBDT has already notified mandatory to download of Part A of Form No. 16 (Salary Certificate) from the TRACES Portal with Automated Form 16 Part B for F.Y 2017-18 with New Tax Slab for F.Y.2017-18

Income Tax Notification Number 11/2013  Dated 19/2/2013 mandatory to download the Form 16 Part A from the TRACES POSTAL.

Click below to download Form 16 Part B for the Financial Year 2017-18

1.     One by One Preparation Excel Based Form 16 Part B for F.Y. 2017-18

 









2.     Master of Form 16 Part B ( This can prepare at a time 50 employees Form 16 Part B)

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     3) Master of Form 16 Part B ( This can prepare at a time 100 employees Form 16 Part B)

 









4.     Master of Form 16 Part B with 12 BA ( This can prepare at a time 50 employees form 16Part B with 12 BA)

Form 16 recently notified had two parts – Part A and Part B. Part A contains details of tax deducted and remitted and Part B contains details of income. The Central Board of Direct Taxes (CBDT) has now notified that Part A of Form 16 containing the Unique Identification Number will be issued by the employer by generating and subsequently downloading the same from the TRACES2 (TDS Reconciliation Analysis and Correction Enabling System) Portal.
Key Requirements
Employer to download Part A of Form 16 from the TRACES Portal and authenticate the correctness of the contents mentioned thereinbefore issuing to the employee. Part B of Form 16 will be prepared manually and issued to the employee after due verification. Part A and B can be either digitally or manually signed.

Form 16 to be issued by the employer containing both Part A and B by 31 May 2013. Form 16 issued in the manner prescribed and containing Unique Identification Number will only be considered to be valid.
The Director-General of Income-tax (Systems) will specify procedure, formats, and standards for downloading Part A of Form 16 and will be responsible for the day to day administration.

To download the Part A of Form 16 from the TRACES Portal, the employer will have to register itself with the TRACES portal. For registration with the TRACES Portal and downloading the Form 16, the authorised signatory signing the Form 16 must have a PAN. In absence of a PAN, the Form 16 cannot be downloaded from the TRACES Portal. This could create a practical difficulty where authorized signatory of the foreign employer does not have a PAN in India.

It is pertinent to note that Part A of Form 16 downloaded from the TRACES Portal would contain the same details as reflecting in the Annual Tax Credit Statement (Form 26AS) of the employee. This initiative will help in reducing the discrepancies in the TDS amounts as per the Form 16 issued by the employer and the details reflecting in the Form 26AS of the employee.

Considering that the due date to file the quarterly return in Form 24Q for Quarter 4 is 15 May 2013 and the due date to issue the Form 16 is 31 May 2013, a question arises how quickly CPC will process the quarterly statements to enable the correct details to be reflected in Form 16 to be downloaded from the TRACES Portal.

Friday, 15 December 2017

Prepare at a time 100 employees Form 16 Part A&B for the Financial Year 2017-18 & Assessment Year 2018-19 with New Income Tax Slab Rate for F.Y.2017-18

Some of the Govt and Non-Govt Concerned yet not prepared the Salary Certificate Form 16 and they have yet not able to serve the Form 16 to their employees. Now it is the time of filing of Income Tax Return.But without the Form 16, they can not be able to File the Income Tax Return. In this regard, it is necessary to serve the Form 16 to the employees positively.

Thursday, 14 December 2017

What is the requirement of Income Tax Form 16 to salaried persons? With Automated Master of Form 16 Part B for F.Y.2017-18 and A.Y.2018-19

What is Form 16?

Form 16 is an Income Tax form used by companies to provide their salaried individuals in India. This form carries all the required details that help the employee in filing their tax returns with the Income Tax department in India. The Income Tax Act of 1961 and the Income Tax rules of 1962 are the laws that are prevailing in India. When Form 16 is provided to an employee by their employer it’s a source of proof of filing their Income Tax Returns, the form has various components such as Salary Income components of the employee. Every employer should provide their employees with the Form 16 who fall under the tax brackets set up the Finance Ministry of the Government of India. If an employee doesn’t fall under the tax brackets set, then he/she doesn’t receive the Form 16 as he/she will not need to pay taxes neither will they need to have Tax Deducted at source or TDS.

Wednesday, 13 December 2017

As per Latest Finance Budget 2017 the Section 80,Plus Automated Income Tax Calculator (All in One) for West Bengal Govt Employees for F.Y 2017-18 & Ass Year 2018-19

Click here to Download the Automated Income Tax Calculator (All in One) for West Bengal Govt employees for the Financial Year 2017-18


A. Section 80C:- Entitles an employee to deductions for the whole of amounts paid or deposited in the current financial year in the following schemes, subject to a limit of Rs.1,50,000/-

(1) Payment of insurance premium to effect or to keep in force an insurance on the life of the individual, the spouse or any child of the individual.

(2) Any payment made to effect or to keep in force a contract for a deferred annuity, not being an annuity plan as is referred to in item (7) herein below on the life of the individual, the spouse or any child of the individual, provided that such contract does not contain a provision for the exercise by the insured of an option to receive a cash payment in lieu of the payment of the annuity;

  • New Introduce Kissan Vikas Patra (K.V.P.) U/s 80 C (From FY 2014-15)
  • Provident Fund
  • Saving certificates
  • Unit-linked insurance plan of the LIC Mutual Fund referred to section 10 (23D) and as notified by the Central Government
  • Any sums paid by an assessee for the purpose of purchase or construction of a residential house property
  • Tuition fees
  • Term deposit for a fixed period not below 5 Years
  • Deduction in respect of contribution to certain pension funds (Section 80CCC)
  • Deduction in respect of contribution to pension scheme of Central Government Private Employees also( Passed by the Central Finance Budget)

(Section 80CCD):  Section 80CCD(1) allows an employee, being an individual employed by the Central Government or any other employer, on or after the 01.01.2004, a deduction of an amount paid or deposited out of his income chargeable to tax under a pension scheme as notified vide Notification F. N. 5/7/2003- ECB&PR dated 22.12.2003 or as may be notified by the Central Government. However, the deduction shall not exceed an amount equal to 10% of his salary(includes Dearness Allowance but excludes all other allowance and perquisites).

As per Section 80CCD(2), where an employee receives any contribution in the said pension scheme from the Central Government or any other employer then the employee shall be allowed a deduction from his total income of the whole amount contributed by the Central Government or any other employer subject to limit of 10% of his salary of the previous year.

However, if any amount is standing to the credit of the employee in the pension scheme referred above and deduction has been allowed as stated above and the employee or his nominee receives this amount together with the amount accrued thereon, due to the reason of
(i) Closure or opting out of the pension scheme or
(ii) Pension received from the annuity plan purchased and taken on such closure or opting out then the amount so received during the FYs shall be the income of the employee or his nominee for that Financial Year and accordingly will be charged to tax. Where any amount paid or deposited by the employee has been taken into account for the purposes of this section, a deduction with reference to such amount shall not be allowed under section 80C.

Further, it has been specified that w.e.f 01.04.09 that any amount received by the employee from the new pension scheme shall be deemed not to have received in the previous year if such amount is used for purchasing an annuity plan in the previous year.

It is emphasized that as per the section 80CCE the aggregate amount of deduction under sections 80C, 80CCC and Section 80CCD(1) shall not exceed Rs.1,50,000/-. However, the contribution made by the Central Government or any other employer to a pension scheme u/s 80CCD(2) shall be excluded from the limit of Rs.1,50,000/- provided under this Section. In this Finance Budget 2014, the Non-Govt employees also entitled to get the benefits U/s 80CCD.

Tuesday, 12 December 2017

Auto fill Income Tax All in One TDS on Salary for Government & Private Employees for F.Y.2017-18

Auto fill Income Tax All in One Income Tax Preparation Excel Based Software for the Financial Year 2017-18 & Ass Year 2018-19. As the Tax Slab has already changed by the CBDT in the recent Finance Budget 2017, some of employee can get relief as the lower tax slab is 5% instead of 10% who's Taxable Income Rs. 5 Lakh.

Monday, 11 December 2017

DOWNLOAD INCOME TAX TDS ON SALARY AUTOMATED ALL IN ONE FOR NON-GOVT EMPLOYEES FOR F.Y. 2017-18

Download the Automatic Income Tax Preparation Excel Based Software for only Non-Govt employees for the Financial Year 2017-18.

Sunday, 10 December 2017

Download Automated All in One TDS on Salary Only for CENTRAL GOVT EMPLOYEES for F.Y.2017-18

As the Central Govt has already implemented the 7th Pay Commission to the All-Central Govt Employees and already hike the Salary to the Central Govt employees from the year 2016. Some of the Employees will get the arrears Salary from the previous Financial Years. In this regard, you have to need the Arrears Relief Calculator u/s 89(1) with Form 10E for relief the tax burden.

Below given the Automated All in One Income Tax Preparation Excel Based Software ONLY FOR CENTRAL GOVERNMENT EMPLOYEES for the Financial Year 2017-18 & A.Y.2018-19 with the new Income Tax Slab as the notified by the Finance Budget 2017.

Click here to Download the Automated All in One TDS on Salary Only for Central Govt Employees for F.Y. 2017-18

Main Feature of this Unik Utility Are:-
1) Automated Computed Income Tax Liability as per New Tax Slay for F.Y.2017-18

2) Automatic Calculate H.R.A. Exemption Calculation U/s 10(13A)

3) Automated Arrears Relief Calculation U/s89(1) with Form 10E from F.Y.2000-01 to 2017-18

4) Automated Individual Salary Structure as per the Central Govt. Employees Salary Pattern.

5) Individual Salary Sheet

6) Automated Income Tax Form16 Part B for Financial Year 2017-18

7) Automated Income Tax Form 16 Part A&B for Financial Year 2017-18

8) Automatic Convert the amount to the in-words.