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 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.

Saturday, 9 December 2017

Download Automated TDS on Salary All in One for Bihar State Employees for F.Y.2017-18

As the Income Tax Slab has already changed by the Finance Budget for the Financial Year 2017-18. 
Tax Rate up to Rs. 2.5 Lakh is NIL

Below Taxable Income 5 Lakh the Tax Rate @ 5% instead the previous financial year 2016-17 was @ 10%. Who's Taxable Income above 5 lakh the rate of Tax @ 20% below 60 years age.

The Income Tax Rebate has also reduce from 5 thousand to Rs. 2.500/- who's Taxable Income below 3.5 Lakh they can get this Tax Rebate. Other Section like as 80C has no changed in this Financial Year 2017-18.

Friday, 8 December 2017

Free Download Automated General Provident Fund Interest Calculator with G.P.F. Register + G.P.F. Account Slip preparation Excel Utility for All State Govt Employees

It appears that the all of the Govt Offices have running their own Salary Generator Software, where generate only the Employees Salary. But except Salary have needed more calculation like as General Provident Fund Calculation which is not prepare by the Salary Generate Software.Most of the Govt Concerned prepared the G.P.F. Ledger manually or in Excel for the Group "D" employees, as the above group D employees can get the G.P.F. Account Slip from the Account General (A&E) and also the Account General preserve the record of above group D Employees of each and every Govt employees.
But the Group D employee's Account Slip, as well as the G.P.F. ledger, maintained by the local Authority.