Introduction

When it comes to saving taxes, every salaried employee—whether from the government or private sector—wants to make the most of available deductions. One such beneficial provision under the Income Tax Act is Section 80CCD(1B). If you’ve ever wondered how to save extra tax beyond the basic limits of Section 80C, then this section is your golden key.

Imagine having a tool that not only helps you understand these deductions but also prepares your taxes automatically. That’s exactly what the Automatic Income Tax Preparation Software/Calculator All in One in Excel for F.Y. 2025-26 does—it simplifies tax planning for both government and non-government employees.

Before we dive deeper, let’s explore this topic step by step.

Table of Contents

Sr#	Headings
1	Understanding Section 80CCD(1B)
2	Importance of Section 80CCD(1B) in Tax Planning
3	Eligibility Criteria under Section 80CCD(1B)
4	Maximum Deduction Limit under Section 80CCD(1B)
5	Difference between Section 80CCD(1) and 80CCD(1B)
6	NPS – The Backbone of Section 80CCD(1B)
7	Benefits of Investing in NPS for Salaried Employees
8	How to Claim Deduction under Section 80CCD(1B)
9	Step-by-Step Example of Tax Savings
10	Introduction to Automatic Income Tax Preparation Software
11	Features of the All-in-One Excel-Based Calculator
12	How to Use the Excel-Based Calculator
13	Benefits for Government Employees
14	Benefits for Non-Government Employees
15	Final Thoughts and Conclusion

1. Understanding Section 80CCD(1B)

Section 80CCD(1B) was introduced by the Government of India to promote investment in the National Pension System (NPS). It provides an additional deduction of ₹50,000 over and above the ₹1.5 lakh limit under Section 80C.

In simple words, this section encourages taxpayers to build a retirement corpus while reducing their tax burden. The best part? Both government and non-government employees can claim this benefit.

2. Importance of Section 80CCD(1B) in Tax Planning

When we talk about tax planning, many people stop at Section 80C. However, Section 80CCD(1B) goes a step further. By investing in NPS under this section, you can not only save more taxes but also secure your future financially.

Think of it like adding an extra layer of protection to your tax-saving armour—every bit helps, especially in the long run.

3. Eligibility Criteria under Section 80CCD(1B)

To claim benefits under Section 80CCD(1B):

• You must be an individual taxpayer (resident or non-resident).
• You must have contributed to the National Pension System (NPS).
• The contribution should be made from your own income.

This section is not available to Hindu Undivided Families (HUFs), ensuring that the benefit remains personal to the investor.

4. Maximum Deduction Limit under Section 80CCD(1B)

The maximum deduction available under this section is ₹50,000. This is over and above the ₹1.5 lakh limit of Section 80C.

So, if you fully utilise both, your total tax deduction can reach ₹2,00,000. Isn’t that a smart move for a taxpayer?

5. Difference between Section 80CCD(1) and 80CCD(1B)

Particulars	Section 80CCD(1)	Section 80CCD(1B)
Applicability	Employees and self-employed	Individuals contributing to NPS
Deduction Limit	Up to ₹1.5 lakh	Additional ₹50,000
Included under Section 80C	Yes	No, separate benefit
Objective	Promote retirement savings	Encourage extra investment in NPS

This clear distinction makes 80CCD(1B) a bonus opportunity for extra savings.

6. NPS – The Backbone of Section 80CCD(1B)

The National Pension System (NPS) is a government-backed retirement savings scheme. It allows individuals to invest regularly in a mix of equity, corporate bonds, and government securities.

Under Section 80CCD(1B), any voluntary contribution to NPS qualifies for the additional ₹50,000 deduction.

You can think of NPS as a long-term bridge to your retirement goals—strong, steady, and reliable.

7. Benefits of Investing in NPS for Salaried Employees

There are several advantages to investing in NPS:

• Tax Efficiency: Additional ₹50,000 deduction under 80CCD(1B).
• Flexible Contributions: You can invest any amount anytime.
• Market-Linked Growth: Earn better returns over time.
• Retirement Security: Build a pension corpus for post-retirement life.

With these benefits, NPS becomes a must-have investment option for every salary earner.

8. How to Claim Deduction under Section 80CCD(1B)

Claiming this deduction is simple:

1. Open an NPS Account (Tier I).
2. Contribute to your account using net banking, UPI, or offline mode.
3. Collect the contribution receipt from your NPS portal.
4. Declare the investment under Section 80CCD(1B) in your income tax return (ITR).

And that’s it! You can now enjoy your tax savings with confidence.

9. Step-by-Step Example of Tax Savings

Let’s take an example:
Mr. Raj, a non-government employee, invests ₹1,50,000 under Section 80C and ₹50,000 in NPS under Section 80CCD(1B).

Total Deduction = ₹2,00,000.
If his income falls under the 30% tax bracket, he saves ₹15,000 in taxes just by using Section 80CCD(1B).

That’s like getting paid for planning smartly!

 Download Automatic Income Tax Preparation Software All-in-One in Excel (F.Y. 2025–26) for Government and Non-Government Employees

Know your Tax Burden in the Old and New Tax Regime for the F.Y.2025-26 with Tax Calculator in Excel[/caption][caption id="attachment_6243" align="alignnone" width="745"] Know your Tax Burden in the Old and New Tax Regime for the F.Y.2025-26 with Tax Calculator in Excel[/caption][caption id="attachment_6224" align="alignnone" width="1011"] Section 80CCD(1B) | With Automatic Income Tax Preparation Software/Calculator All in One for the Government and Non-Government Employees for F.Y. 2025-26[/caption][caption id="attachment_6208" align="alignnone" width="1026"] Section 80CCD(1B) | With Automatic Income Tax Preparation Software/Calculator All in One for the Government and Non-Government Employees for F.Y. 2025-26[/caption]

Key Features of the Excel-Based Tax Preparation Utility

1. Dual Regime Option

You can easily select either the New or Old Tax Regime under Section 115BAC. Moreover, the software instantly compares both regimes and highlights which one saves you more tax. Furthermore, it empowers you to make smarter financial decisions with just one click.

2. Customised Salary Structure

The software automatically adapts to your specific salary format, whether you work for a Government or Non-Government organisation. Additionally, it customises your inputs to minimise manual entries and reduce human errors. Besides, this automation saves valuable time and ensures consistent accuracy across every calculation.

3. Automatic Arrears Relief Calculator [Section 89(1) + Form 10E]

The utility precisely calculates arrears relief for all financial years from 2000–01 to 2025–26. In addition, it automatically generates Form 10E for direct submission, eliminating the need for complex manual entries. Consequently, you can enjoy accurate and hassle-free tax relief computations every time.

4. Updated Form 16 (Part A & B)

The software automatically prepares the Revised Form 16 (Part A & B) for the Financial Year 2025–26. Likewise, it ensures that your Form 16 remains fully compliant with the latest tax rules and formats. Therefore, you can confidently submit your documents without worrying about compliance errors.

5. Simplified Compliance

The tool performs quick and error-free tax calculations using advanced built-in formulas. Furthermore, it removes the need for manual corrections, which enhances both accuracy and efficiency. Finally, you can prepare and finalise your income tax return with complete confidence and speed.

11. Features of the All-in-One Excel-Based Calculator

Here’s what makes this tool stand out:

• Covers All Deductions: Including Section 80C, 80D, 80CCD(1B), etc.
• Automatic Tax Calculation: Based on current income tax slabs.
• Form 10E Integration: Helps in arrears and relief calculations.
• Separate Sheets: For government and private employees.
• Printable Reports: Generate Form 16 and summary sheets easily.

In short, this Excel-based software is a one-stop solution for salaried taxpayers.

12. How to Use the Excel-Based Calculator

Using the calculator is as simple as 1-2-3:

1. Download the Excel file. From the above link
2. Enter your salary details, deductions, and investments.
3. Get your automatic computation with total tax payable and savings.

It’s almost like having your personal tax assistant inside Excel!

13. Benefits for Government Employees

For government employees, this software is especially useful. It includes:

• Updated HRA and DA calculations.
• Form 10E for relief on arrears.
• Easy comparison between old and new tax regimes.

This means you can make the best decision about which regime suits your income better.

14. Benefits for Non-Government Employees

Non-government employees can also enjoy several advantages:

• Auto-calculation of PF, NPS, and Professional Tax.
• Support for both monthly and annual salary structures.
• Customizable deductions for accurate results.

It ensures that private sector professionals save time, money, and stress.

15. Final Thoughts and Conclusion

In today’s fast-paced world, smart tax planning is essential. Section 80CCD(1B) empowers you to save more while securing your future through NPS. And with the help of the Automatic Income Tax Preparation Software/Calculator, managing taxes becomes effortless and precise.

Remember, every rupee saved in taxes is a step closer to financial freedom. So, why not make the most of it today?

Frequently Asked Questions (FAQs)

1. What is Section 80CCD(1B) under the Income Tax Act?
   Section 80CCD(1B) allows an additional tax deduction of ₹50,000 for contributions made to the National Pension System (NPS).
2. Who can claim deduction under Section 80CCD(1B)?
   Any individual taxpayer, whether a government or private employee, can claim this deduction by contributing to NPS.
3. Is Section 80CCD(1B) part of Section 80C?
   No, it’s an additional deduction over and above the ₹1.5 lakh limit under Section 80C.
4. How can I claim the deduction in my ITR?
   You must provide your NPS contribution details under Section 80CCD(1B) in your Income Tax Return form.
5. Can I use the Automatic Income Tax Calculator to compute my total savings?
   Yes! The Excel-based calculator automatically includes deductions under Section 80CCD(1B) and shows your net taxable income.

Why Choose the Automatic Income Tax Preparation Software All-in-One in Excel?

You should choose this Automatic Income Tax Preparation Software because it makes tax computation simple, accurate, and time-saving. Moreover, it’s specifically designed for Government and Non-Government employees for the Financial Year 2025–26, ensuring full compatibility with the latest tax rules. Furthermore, it minimises manual work while maximising precision, which helps you file your income tax returns effortlessly.

Additionally, this Excel-based utility provides built-in formulas, automatic comparisons, and real-time updates, making it a perfect tool for anyone who wants to save time and stay compliant. Therefore, whether you are a salaried government official or a private sector employee, you can confidently rely on this calculator to handle all your tax needs.

Comprehensive Coverage for Both Old and New Tax Regimes

This All-in-One Excel Calculator supports both the Old and New Tax Regimes under Section 115BAC. Moreover, the software allows you to switch between the two instantly and see which one gives you the highest savings. In addition, it performs an in-depth comparison, showing detailed calculations for both regimes side by side.

Consequently, you can make an informed decision based on your income, deductions, and personal financial goals. Likewise, it ensures you never miss out on any potential tax benefit. Besides, the calculator follows the latest Income Tax Slabs for F.Y. 2025–26, ensuring every computation remains fully up-to-date.

Time-Saving Automation and Accuracy

Unlike manual calculations that often lead to confusion or errors, this Excel-based software performs every step automatically. Furthermore, it updates every figure as soon as you input your salary and deductions. Consequently, the process becomes faster, smoother, and completely error-free.

Additionally, because the software is built with verified tax formulas, you can trust the accuracy of its results. Moreover, you can print detailed tax reports, saving valuable time during documentation and submission. Therefore, this automation not only enhances your tax preparation but also reduces the stress of last-minute filing.

Automatic Relief Calculation under Section 89(1) and Form 10E

The software also includes a powerful Automatic Arrears Relief Calculator under Section 89(1) with integrated Form 10E. Moreover, it helps you calculate arrear relief for salary differences from the F.Y. 2000–01 to 2025–26. In addition, the system automatically generates Form 10E, which you can directly attach to your income tax return.

Consequently, this feature ensures that your arrear-related tax relief is accurate and legally compliant. Likewise, it prevents overpayment or underpayment of taxes due to arrears, thereby protecting your financial interests.

Upgraded Form 16 Generation (Part A & B) And Part B

The Automatic Income Tax Preparation Software instantly generates Form 16 (Part A & B) and Part B in line with the latest tax norms. Moreover, it ensures that every entry, such as gross salary, deductions, and taxable income, is placed in the correct format. Additionally, you can print or share this Form 16 directly for submission.

Likewise, this saves both time and effort while ensuring that all your records stay in perfect order. Therefore, government and non-government employees can depend on it for precise and professional documentation.

Smart Compliance with Zero Manual Errors

In today’s fast-paced environment, accuracy and compliance are critical. Consequently, the All-in-One Excel Tax Calculator ensures that your income tax computations are quick, accurate, and compliant with government regulations. Moreover, advanced inbuilt formulas automatically detect errors, helping you maintain accuracy without extra effort.

Additionally, you can review every calculation in real-time, ensuring full transparency and control. Therefore, the risk of manual error becomes almost zero, which enhances both efficiency and confidence in your tax filing process.

Compatibility and Ease of Use

You don’t need to be a tax expert or Excel professional to use this software. Furthermore, the user-friendly design makes it suitable for everyone, from entry-level employees to senior officers. Additionally, the tool works seamlessly on most versions of Microsoft Excel, ensuring smooth performance without additional installations.

Besides, it requires minimal system resources, so you can run it easily on your desktop or laptop. Consequently, it becomes a convenient and accessible solution for every taxpayer. Moreover, you can save multiple versions of your calculations and revisit them whenever necessary.

Benefits for Government Employees

Government employees enjoy specific advantages while using this tool. Moreover, it includes built-in fields for HRA, DA, and TA calculations, making it extremely useful for central and state government staff. In addition, it provides Form 10E and arrear relief options that align with government salary structures.

Furthermore, it allows you to compare the old and new tax regimes, so you can select the one that maximises your take-home income. Therefore, government employees can easily calculate their taxes without needing professional help.

Benefits for Non-Government Employees

Private-sector professionals can also gain significant benefits. Moreover, the calculator supports diverse pay structures, including monthly and annual formats. Additionally, it helps compute deductions like EPF, Professional Tax, and NPS contributions automatically.

Furthermore, it generates clear reports that you can share with your HR or accounting department. Consequently, it saves both time and money by eliminating the need for manual verification or expensive software. Therefore, this tool becomes an ideal companion for non-government employees who want efficiency and accuracy in one place.

Conclusion

In conclusion, the Automatic Income Tax Preparation Software All-in-One in Excel for F.Y. 2025–26 is an essential tool for every salaried individual. Moreover, it simplifies the complex process of tax computation and ensures full compliance with Indian tax laws. Additionally, its intelligent automation, dual-regime comparison, and arrear relief calculation make it one of the most reliable tax utilities available.

Therefore, whether you are a Government or Non-Government employee, you can confidently download and use this tool to prepare your taxes quickly and accurately. Furthermore, its real-time accuracy and ease of use ensure that you never miss a deduction or make an error again. Finally, it’s more than just a calculator—it’s your personal tax assistant for a stress-free financial year.

On October 30, 2025 by www.taxexcel.net

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Tax season is here again, and if you're a government employee in Maharashtra, you might already be feeling the pressure. Filing income tax doesn’t have to be a headache. Imagine a tool that does all the heavy lifting—like a personal assistant who understands the tax rules better than most. That’s what the Income Tax Preparation Software in Excel offers. It’s quick, reliable, and tailored for Maharashtra State employees. Let's break it down together, step by step.

Table of Contents

Sr#	Headings
1	What is Income Tax Preparation Software in Excel?
2	Why is it Important for Maharashtra State Employees?
3	Key Features of the Excel-Based Software
4	What's New in the FY 2025-26 Version?
5	Step-by-Step Guide to Download the Software
6	How to Use the Software: A Beginner’s Guide
7	Error-Free Calculations: How It Saves You Time
8	Ensuring Compliance with Tax Rules and Sections
9	Who Developed the Software and Is It Safe?
10	Compatibility with Excel Versions
11	Customizable Options for Different Employee Types
12	Common Mistakes and How the Software Prevents Them
13	User Reviews and Testimonials
14	Troubleshooting Common Issues
15	Final Thoughts and Download Link

1. What is Income Tax Preparation Software in Excel?

The Income Tax Preparation Software in Excel is a smart, spreadsheet-based tool that helps employees calculate and file their income tax accurately. Designed specifically for Indian taxpayers, especially government staff, this tool automates the entire tax computation process.

2. Why is it Important for Maharashtra State Employees?

If you work for the Maharashtra State Government, you deal with specific salary structures, allowances, and deductions. This software is built keeping those nuances in mind. It’s like having a tailor-made suit—it just fits better than a one-size-fits-all tool.

3. Key Features of the Excel-Based Software

Bold features, better benefits:

• Auto calculation of taxable income, deductions, and rebates
• Built-in formulas to ensure accuracy
• Preloaded sections like 80C, 80D, HRA, LTA, etc.
• Form 16 auto-fill based on your inputs
• Support for Old and New Tax Regimes

4. What’s New in the FY 2025-26 Version?

Each financial year brings changes, and this tool is updated accordingly. In the 2025-26 version, you’ll find:

• Updated tax slabs
• Adjusted rebate limits
• Improved UI with drop-downs and validations
• Enhanced security macros to protect your data

5. Step-by-Step Guide to Download the Software

Downloading this software is as easy as downloading a movie or song. Follow these steps:

1. Go to the link below to download this Excel Utility
2. Click on the “Download Excel Tool for FY 2025-26”
3. Save the file to your device
4. Enable Macros when prompted in Excel
5. You're ready to go!

Always scan the file for safety and avoid downloading from unknown sites.

6. How to Use the Software: A Beginner’s Guide

If you're new to Excel tools, don't worry. Here's how to get started:

• Open the file in Microsoft Excel
• Fill in your personal details (Name, PAN, DOB, etc.)
• Enter your salary details and allowances
• Claim deductions under various sections
• Choose your preferred tax regime
• Hit calculate—and voilà!

7. Error-Free Calculations: How It Saves You Time

Manual tax calculation is like solving a Rubik’s cube blindfolded—tricky and error-prone. This software handles complex calculations with built-in logic, minimising human error. It ensures correct tax liability in just minutes.

8. Ensuring Compliance with Tax Rules and Sections

The Income Tax Act has more rules than a cricket match! This software incorporates the latest changes and ensures you’re compliant with:

• Section 80c (Investments)
• Section 10 (Allowances)
• Section 87a (Rebate)
• And more…

9. Who Developed the Software, and Is It Safe?

Most versions of this tool are created by tax professionals or retired government officers. They know the system inside out. While it's usually safe, ensure you download only from trusted sources to avoid malware.

10. Compatibility with Excel Versions

Good news! The tool works on:

• Excel 2007
• Excel 2010
• Excel 2013 and newer
  Just make sure Macros are enabled for full functionality.

11. Customizable Options for Different Employee Types

Whether you're a teacher, clerk, police officer, or health worker, the software offers flexible input fields. Adjustments for allowances, leave encashment, and bonus calculations are also available.

12. Common Mistakes and How the Software Prevents Them

We often miscalculate HRA, forget to claim deductions, or enter wrong PAN details. This software has built-in checks that alert you if something is off. It’s like having a smart friend watching over your shoulder.

13. User Reviews and Testimonials

Many users call it a “lifesaver during tax season.” Employees say it saves them hours of paperwork and removes confusion around the New vs Old Tax Regime choice.

14. Troubleshooting Common Issues

Facing problems? Here’s what to do:

• Macro not working? Check your Excel settings
• Form not opening? Make sure you're using a compatible version
• Error in formula? Recheck the data input or download the latest file

15. Final Thoughts and Download Link

Don't wait till the last minute. Get your Income Tax Preparation Software in Excel for FY 2025-26 from the below given link now. It’s a time-saver, stress-buster, and smart way to stay compliant.

👉 Download Now from a Trusted Source

Conclusion

In today’s fast-paced world, nobody has time for complex tax forms and manual calculations. This Excel-based income tax software takes care of the grunt work so you can focus on what matters. It’s reliable, simple, and tailored for Maharashtra State Employees. If you're looking for a smoother tax filing experience in FY 2025-26, this tool is your go-to solution.

FAQs

1. Is the Excel-based income tax software free to use?
Yes, many versions are free, especially those shared by tax experts or government bodies.

2. Can I use this software if I switch to the New Tax Regime?
Absolutely! The software lets you choose between Old and New regimes easily.

3. What if I don’t know how to enable macros in Excel?
No worries! Just go to Excel options > Trust Centre> Enable Macros. A quick Google search can help, too.

4. Is this software suitable for pensioners or only working employees?
It's customizable and works for both employees and pensioners in Maharashtra.

5. How do I update the software next year?
Most creators release updates annually. Just visit the source website again for the next FY version.

Download Automatic Income Tax Preparation Software in Excel for the Maharashtra State Employees for F.Y. 2025-26

[This Excel Utility is mainly prepared for the Maharashtra State Employees with Automated income tax Computed Sheet + Automatic H.R.A. Exemption U/s 10(13A), Automatic Form 16 Part A&B and Part B as per Budget 2025]

On May 14, 2025 by www.taxexcel.net

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The new income tax regime announced in Budget, give an option to individuals and Hindu Unified Families (HUFs) to be taxed at lower rates on the off chance that they don't profit determined exclusions and reasoning’s

On August 24, 2020 by www.taxexcel.net

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·                       Surcharge hiked for those earning above Rs.2 crore; higher deduction on home loan interest for low-cost housing

·                       Extra deduction for interest paid on loans taken in current FY for buying a house priced up to Rs.45 lakh

Finance minister maiden budget speech lasted for over two hours but she spent about five minutes on direct taxes. Clearly, after February’s populist Interim Budget, there was little room to offer more benefits. But the budget was not entirely without implications for taxpayers.

On September 09, 2019 by www.taxexcel.net

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As per the Income Tax Rules, the salaried person’s Salary Certificate Form 16 Part B is mandatory to download from the Income Tax TRACES portal. And the Income Tax Salary Details Form 16 Part B is must be prepared by the Employer.

On February 18, 2019 by www.taxexcel.net

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Click here to Download the Automated Income Tax Form 16 Part B for the Financial Year2018-19 & Assessment Year 2019-20 [This Excel Utility can prepare at a time 50 Employees Form 16 Part B for F.Y. 2018-19]

The Main Feature of this Excel Utility is:-

1) Prepare At a time 50 Employees Form 16 Part B for F.Y. 2018-19

2) After filling the Salary Details Form 16 will be prepared automatically and perfectly as per the Rules by the Income Tax Department.

3) All latest Amended Income Tax Section have in this Excel Utility

4) You are aware when you put any employees salary data double( Mistakly) the Software can prevent the Double Entry of any Employee's

5) Automatic Convert the Amount into the In-Words without any Excel Formula.

6) Easy to install just like as an Excel File and Easy to Generate

7) Save the time to prepare Form 16 Part B One by One of each employee's

On February 13, 2019 by www.taxexcel.net

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Income Tax exemption is a monetary exemption that reduces the taxable income of an individual. This decreases total taxable income and reduces the amount of income tax you would have otherwise paid. Deduction under chapter VI-A is restricted to Gross total income & this deduction cannot be carried forward. Let us discuss the following deductions covered u/s VI-A

On October 31, 2018 by www.taxexcel.net

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There are various deductions a taxpayer can claim from his total income which would bring down his taxable income and thereby reduce his tax outgo. Discussed in this article are some of the important deductions under Section 80C a taxpayer is eligible to claim.

On September 17, 2018 by www.taxexcel.net

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Now this month is March 2018 is the end of the F.Y.2017-18 and Income Tax Preparation and submit the Tax Statement to the employer by the employee with their Tax Savings deposit. Also, it is time to prepare the Form 16 Part B by each employer/ Deductor for distributing the Form 16 Part B for the Financial Year 2017-18 and Assessment Year 2018-19. 

On July 02, 2018 by www.taxexcel.net

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Click here to Download Automated Excel Based Income Tax Form 16 Part B for F.Y.2017-18[ This Excel Utility can prepare One by One Form 16 Part B for f.Y.2017-18]

On June 13, 2018 by www.taxexcel.net

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On July 09, 2017 by www.taxexcel.net

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On July 05, 2017 by www.taxexcel.net

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Form 16 is a TDS Certificate issued by the employer deducting the TDS while making payment to an employee. As per the Income Tax Act, every employer at the time of payment of Salaries shall deduct TDS at the average rate of income tax computed on the basis of the Income Tax Slab Rates in force for that financial year in which the payment is made on the estimated income of the assessee.

The TDS so deducted by the employer is to be deposited with the Income Tax department and after depositing the same, the employer issues a TDS Certificate containing all particulars of the tax so deducted and deposited in Form 16. It is issued by the employer after the end of the year. As per the Income Tax (Sixth Amendment Rules), the last date for issuance of Form 16 by an employer to his employee is 31st May of the next year.

Only the TDS Deducted from Salary is reflected in this form and TDS Deductions from any other Income are reflected in Form 16A/ Form 16B.

Components of Form 16

Form 16 is a very simple and easy to understand form which states the Salary (and its related components) paid by an employer to his employee and the income tax deducted thereon.

On the basis of Form 16, a taxpayer can easily file his income tax return form without the help of a Chartered Accountant. There are various income tax return forms for different category of income earners. For taxpayers earning income from Salary and/or House Property and/or Capital Gains and/or Other Sources, they can file ITR 1/ ITR 

Form 16 is divided into 2 parts: Part A & Part B.

PART A OF FORM 16

Part A of this type of TDS Certificate consists of details like:-

• Name, PAN Card No. & Address of the Employee
• Name, PAN No., Address & TAN No. of the Employer
• The Assessment Year for which the TDS has been deducted.
• Summary of Salary paid and the TDS deducted and deposited with the govt.
• Acknowledgement No. of the TDS Payment deposited with Govt.

PART B OF FORM 16

Part B of this type of  TDS Certificate consists of details like:-

§                    Detailed Salary particulars like House Rent Allowance, Leave Travel Allowance, Leave Encashment, Gratuity, Pension, Deductions claimed like PPF, Tax Saving FD, National Saving Certificate etc:- 

1. The Total Income and the Total Tax on Salaries thereon
2. Education Cess and Surcharge if any
3. Tax Deducted under section 192(1A)
4. Balance Tax Payable/tax refundable

This TDS Certificate also contains a declaration at the end that the person deducting the tax has deposited the same with the Central Govt. This statement may either be manually signed or digitally signed. An extract of a specimen copy of Form 16 is shown below:-

Form 16 in case of Job Change

In case you have changed your job during the year, you are required to collect this form from both the previous employer as well as the new employer as you would be filing your Income Tax Returns on the basis of your Form 16.

When you join any new organisation, you should furnish your TDS details from the previous employer to the new employer. You would also be required to furnish Form 12B to the new employer

Furnishing the TDS Details issued by the previous employer would help the current employer in deducting the tax accordingly. Although furnishing these details is not mandatory, if you do not mention these details to your current employer, then you are liable to yourself compute the total income from both the employers and calculate your tax liability accordingly. (Only applicable in the year of job change)

BENEFITS OF FORM 16

1.                 This TDS Certificate contains all particulars and details of the TDS deducted and deposited. Although a copy of this TDS Certificate is not required to be furnished at the time of filing of Income Tax Return, the details mentioned in Form 16 are required to be furnished in the Income Tax Return.

2.                 This TDS Certificate is the most powerful proof of the Income of an Individual and the fact that the tax has been paid thereon. Banks heavily rely on this TDS Certificate to assess the Income of an Individual at the time of Home Loan application and require any Home Loan applicant to furnish his Form 16

Download Below given Automated Form 16 for the Financial Year 2016-17

One by One Preparation Form 16 Part A&B and Part B for FY 2016-17	DOWNLOAD
Master of Form 16 Part B ( Prepare at a time 50 employees Form 16 Part B for FY 2016-17)	DOWNLOAD
Master of Form 16 Part B ( Prepare at a time 100 employees Form 16 Part B for FY 2016-17)	DOWNLOAD
Master of Form 16 Part B with 12 BA ( Prepare at a time 50 employees Form 16 Part B + 12 BA for FY 2016-17)	DOWNLOAD
Master of Form 16 Part A&B for 50 employees ( Prepare at a time 50 employees Form 16 Part B for F.Y.2016-17)	DOWNLOAD
Master of Form 16 Part A&B ( Prepare at a time 100 employees Form 16 Part A&B for FY 2014-15	DOWNLOAD

On June 19, 2017 by www.taxexcel.net

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Download Automated Master of Form 16 Part A&B for the Financial Year 2016-17 [ This Excel Utility can prepare at a time 100 employees Form 16 Part A&B with all up dated Tax Section and Tax Section as per Finance Bill 2016]

Deductions on Section 80C, 80CCC, 80CCD & 80CCD(1B)

Section 80C

The deduction under section 80C is allowed from your Gross Total Income. These are available to an Individual or an HUF.

Broadly speaking, this section provides deduction from total income in respect of various investments / expenditures / payments. Total Deduction under section 80C, 80CCC and 80CCD(1) together cannot exceed Rs 1,50,000 for the financial year 2016-17, excluding U/s 80CCD(2) And 80CCD(1B).

Section 80CCC: Deduction in respect of Premium Paid for Annuity Plan of LIC or Other Insurer

This section provides the deduction to an Individual for any amount paid or deposited in any annuity plan of LIC any other insurer for receiving the pension from a fund referred to in Section 10(23AAB).

In case the annuity is surrendered before the date of its maturity, the surrender value is taxable in the year of receipt.

Section 80CCD: Deduction in respect of Contribution to Pension Account

Total Deduction under Section 80C, 80CCC and 80CCD(1) cannot exceed Rs 1,50,000. Employer’s contribution under section 80CCD(2) towards NPS is outside the monetary ceiling mentioned above & Rs. 50 thousand can get additional tax relief from U/s 80CCD(1B)

Deductions on Savings Bank Account

Section 80 TTA: Deduction from gross total income in respect of any Income by way of Interest on Savings account

Deduction from gross total income of an individual or HUF, up to a maximum of Rs. 10,000/-, in respect of interest on deposits in savings account ( not time deposits ) with a bank, co-operative society or post office, is allowable 

Deductions on House Rent

Section 80GG: Deduction in respect of House Rent Paid

Deduction available is the least of

1. Rent paid minus 10% of total income
2. Rs.5000/- per month
3. 25% of total income, provided
• Assessee or his spouse or minor child should not own residential accommodation at the place of employment.
• He should not be in receipt of house rent allowance.
• He should not have self-occupied residential premises in any other place.

Deductions on Loan for Higher Studies

Section 80E: Deduction in respect of Interest on Loan for Higher Studies

Deduction in respect of interest on loan is taken for pursuing higher education. The deduction is also available for the purpose of higher education of a relative w.e.f. A.Y. 2008-09.

Deductions on Rajiv Gandhi Equity Saving Scheme (RGESS)

Section 80CCG: Rajiv Gandhi Equity Saving Scheme (RGESS)

The Rajiv Gandhi Equity Saving Scheme (RGESS) was launched after the 2012 Budget. Investors whose annual income is less than Rs. 10 lakhs can invest in this scheme (up to Rs. 50,000) and get a deduction of 50% of the investment.

So, if you invest Rs. 50,000 (maximum amount eligible for income tax rebate is Rs. 50,000), you can claim a tax deduction of Rs. 25,000 (50% of Rs. 50,000).

Deductions on Medical Insurance

Section 80D: Deduction in respect of Medical Insurance

The deduction is available up to Rs. 20,000/- for senior citizens and up to Rs. 25,000/ in other cases for insurance of self, spouse, and dependent children. Additionally, a deduction for insurance of parents (father or mother or both) is available to the extent of Rs. 30,000/- if parents are senior Citizen and Rs. 15,000/- in other cases. Therefore, the maximum deduction available under this section is to the extent of Rs. 55,000/-. From A.Y 2016-17, within the existing limit a deduction of up to Rs. 5,000 for preventive health check-up is available.

Deductions on Medical Expenditure on Self or Dependent Relative

Section 80DDB: Deduction in respect of Medical Expenditure on Self or Dependent Relative

A deduction to the extent of Rs. 80,000/- or the amount actually paid, whichever is less is available for expenditure actually incurred by resident assessee on himself or dependent relative for medical treatment of specified disease or ailment. The diseases have been specified in Rule 11DD. A certificate in form 10 I is to be furnished by the assessee from any Registered Doctor.

Deductions on Medical Expenditure for a Handicapped Relative

Section 80DD: Deduction in respect of Rehabilitation of Handicapped Dependent Relative

Deduction of Rs. 50,000/- is available on:

1. expenditure incurred on medical treatment, (including nursing), training and rehabilitation of handicapped dependent relative.
2. Payment or deposit to specified scheme for maintenance of dependent handicapped relative.

Further, if the dependant is a person with severe disability, a deduction of Rs. 100,000/- is also available under this section. The handicapped dependent should be a dependent relative suffering from a permanent disability (including blindness) or mentally retarded, as certified by a specified physician or psychiatrist.

Note: A person with 'severe disability' means a person with 80% or more of one or more disabilities as outlined in section 56(4) of the 'Persons with disabilities (Equal opportunities, protection of rights and full participation)' Act.

Deductions on Person suffering from Physical Disability

Section 80U: Deduction in respect of Person suffering from Physical Disability

Deduction of Rs. 75,000/- to an individual who suffers from a physical disability (including blindness) or mental retardation. Further, if the individual is a person with severe disability, deduction of Rs. 125,000/- shall be available u/s 80U. The certificate should be obtained from a Govt. Doctor. The relevant rule is Rule 11D.

Deduction for donations towards Social Causes

Section 80G: Deduction for donations towards Social Causes

The various donations specified in Sec. 80G are eligible for deduction up to either 100% or 50% with or without restriction as provided in Sec. 80G. 80G deduction not applicable in case donation is done in form of cash for an amount over Rs 10,000.

Donations with 100% deduction without any qualifying limit:

• National Defence Fund set up by the Central Government
• Prime Minister’s National Relief Fund
• National Foundation for Communal Harmony
• An approved university/educational institution of National eminence
• Zila Saksharta Samiti constituted in any district under the chairmanship of the Collector of that district
• Fund set up by a State Government for the medical relief of the poor
• National Illness Assistance Fund
• National Blood Transfusion Council or to any State Blood Transfusion Council
• National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities
• National Sports Fund
• National Cultural Fund
• Fund for Technology Development and Application
• Chief Minister’s Relief Fund or Lieutenant Governor’s Relief Fund in respect of any State or Union Territory
• the Army Central Welfare Fund or the Indian Naval Benevolent Fund or the Air Force Central Welfare Fund, Andhra Pradesh Chief Minister’s Cyclone Relief Fund, 1996
• The Maharashtra Chief Minister’s Relief Fund during October 1, 1993, and October 6, 1993
• Chief Minister’s Earthquake Relief Fund, Maharashtra
• Any fund set up by the State Government of Gujarat exclusively for providing relief to the victims of earthquake in Gujarat
• Any trust, institution or fund to which Section 80G(5C) applies for providing relief to the victims of earthquake in Gujarat (contribution made during January 26, 2001, and September 30, 2001) or
• Prime Minister’s Armenia Earthquake Relief Fund
• Africa (Public Contributions — India) Fund

Donations with 50% deduction without any qualifying limit.

• Jawaharlal Nehru Memorial Fund
• Prime Minister’s Drought Relief Fund
• National Children’s Fund
• Indira Gandhi Memorial Trust
• The Rajiv Gandhi Foundation

Donations to the following are eligible for 100% deduction subject to 10% of adjusted gross total income

• Government or any approved local authority, institution or association to be utilized for the purpose of promoting family planning
• Donation by a Company to the Indian Olympic Association or to any other notified association or institution established in India for the development of infrastructure for sports and games in India or the sponsorship of sports and games in India.

Donations to the following are eligible for 50% deduction subject to 10% of adjusted gross total income

• Any other fund or any institution which satisfies conditions mentioned in Section 80G(5)
• Government or any local authority to be utilized for any charitable purpose other than the purpose of promoting family planning
• Any authority constituted in India for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns, villages or both
• Any corporation referred in Section 10(26BB) for promoting interest of minority community
• For repairs or renovation of any notified temple, mosque, gurudwara, church or another place.

Download Automated Master of Form 16 Part B for the Financial Year 2016-17[ This Excel Utility can prepare at a time 100 employees Form 16 Part B with all updated Tax Section and Tax Slab]

On December 17, 2016 by www.taxexcel.net

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