Skip to content
Showing posts with label INCOME TAX 2014. Show all posts
Showing posts with label INCOME TAX 2014. Show all posts

Income tax Automatic Calculation Sheet 2015-16:

 ,

INCOME TAX CALCULATION SHEET 2016-2017

PREPARED
ARUNAGIRI K PG Asst. in Maths,GHSS Kasinayakkanpatti,Vellore District 9585898998
Corrected -version 17.1 Click the bellow link 

BY.-M.TAMILARASAN  M.C.A.,B.ED.,M.PHIL.,-COMPUTER INSTRUCTORGOVT BOYS HR SEC SCHOOL-MARIAMMANKOIL-TANJAVUR DISTRICT -613501.

IT -FORM-2017

THANKS TO MR.V. MANIMARAN M.C.A. B.Ed.ZAMINDAR'S HR. SEC. SCHOOL,THURAIYUR - 621 010
  •  DOWNLOAD INCOME TAX FORM - 2016-2017 |  Click Here
  •  DOWNLOAD INCOME TAX FORM - 2016-2017 Click Here

 INCOME TAX CALCULATION SHEET 2015-2016

PREPARED
ARUNAGIRI K PG Asst. in Maths,GHSS Kasinayakkanpatti,Vellore District 9585898998
Corrected -version 16.3 Click the bellow link 


Prepared by, Mr V. MANIMARAN M.C.A. B.Ed.ZAMINDAR'S HR. SEC. SCHOOL THURAIYUR - 621 010TRICHY DT.MOBILE NO : 9943216034

  • THE BEST INCOME TAX CALCULATION - TO USE THIS FORMAT UNTIL NEXT PAYCOMMISSION click here...
.......................................

Thanks to Mr.Velavadasan R.S rsvelavadasan@gmail.com



CLICK HERE TO DOWNLOAD INCOME TAX FORM - 2015-2016 Click Here
Prepared by, Mr V. MANIMARAN M.C.A. B.Ed.ZAMINDAR'S HR. SEC. SCHOOL THURAIYUR - 621 010TRICHY DT.MOBILE NO : 9943216034
THE BEST INCOME TAX CALCULATION - TO USE THIS FORMAT UNTIL NEXT PAYCOMMISSION click here...
.....................................................................................................
THANKS TO:  Mr.S.MANOHAR &  Mr.S.SENTHIL KUMAR, GRADUATE TEACHERS, GOVT.HR.SEC.SCHOOL, THIYAGARAJAPURAM, VIRUDHUNAGAR DT.
INCOME TAX CALCULATION XL SHEET 2016:
DOWNLOAD THE EXCEL FILE FILE AND USE IT 
INCOMETAX: ALLOWANCES AVAILABLE TO DIFFERENT CATEGORIES OF TAX PAYERS FOR THE FY 2015-16,AY 2016-17,PHYSICALLY CHALLENGED TEACHERS SEE SERIAL NO.14 0F THE TABLE:
Click here...  

......................................................................................................

INCOME TAX CALCULATION SHEET AND SPOUSE CERTIFICATE 2014-2015:

IT FORM 2015 BELLOW FORMAT VERY FAST IT FORM PREPARED BY
NEW IT FORMAT CPS GOVENMENT CONTRIBUTION LESS SECTION 80CCD CLICK HERE
ARUNAGIRI K 
PG Asst. in Maths,

GHSS Kasinayakkanpatti,

Vellore District.

9585898998

IT Forms Prepared By
Links
Mr. S.M. Thomas Antony,
B.T.Asst.,
St. Britto HSS, Madurai-16.
Download
Mr. K. Arunagiri,
PG Asst. in Maths,
GHSS Kasinayakkanpatti,
Vellore District. (Version 2.1)
Download
Mr. P. Manimaran,
B.T.Asst., (Science),
GHS, P.Thottiyankulam,
Virudhunagar Dt.
Download
Mr. K. Uduman Ali,
TAMS.
Download
Mr. S. Velavan,
P.G.Asst.,
Thiruvarur.
Download



Income Tax 2016-17 (A.Year 2017-18) Rate, Exemptions, Deductions and Rebate for Salaried Employees :

 ,
Income Tax 2016-17 (A.Year 2017-18) Rate, Exemptions, Deductions and Rebate for Salaried Employees under Section 10, Section 24, Section 89(1), Chapter VIA, and Section 87A
Income Tax Rate 2016-17
TAXABLE INCOME RANGE            RATE OF INCOME TAX
Up to RS.2,50,000             NIL
Rs.2,50,001 to Rs.5,00,000            10% of the amount by which the income exceeds Rs.2,50,000
Rs.5,00,001 to Rs.10,00,000          Rs.25,000 plus 20% of the amount by which the income exceeds Rs.5,00,000
Above Rs.10,00,001         Rs.1,25,000 plus 30% of the amount by which the income exceeds Rs.10,00,000
  Education Cess               
3% on Total Income Tax Payble
Section 10 (13A) – Exemption in respect of HRA:
Under Sec. 10(13A), an employee who is in receipt of House Rent Allowance (HRA) can claim exemption, if he does not live in his own house, and pays rent in excess of 10% of his salary for his residential accommodation.

Income Tax 2016-17 – All Salaried Employees to declare deductions and savings under Form 12BB:

 
1 2BB – Download Form 12BB as a Word, Excel or PDF file- All Employees to file Declaration under Form 12BB to claim deduction for savings under Section 80 C, payment of house loan interest under Section 24, and HRA exemption under Section 10
The Finance Act, 2015 had introduced section 192(2D) of the Income-tax Act, 1961 (the Act) wherein the person responsible for making payment of salary (employer) was obliged to collect the necessary evidence or proof in the prescribed form and manner to allow any claim for any deduction and/or tax saving investments. However, the relevant rules and form were yet to be prescribed. The Central Board of Direct Taxes (CBDT) has come out with the relevant rules1 and also prescribed the form i.e. Form 12BB, in which salaried employees would now be required to furnish evidence of claims and tax saving investments to the employer.Till Finance Act 2016, there was no standard format for salaried employees for filing declaration with their employer to claim deduction for savings under Section 80 C, payment of house loan interest under Section 24, and HRA exemption under Section 10. In the absence of single declaration form, employees had to submit proof for each investment made in the year.
As a relief to employees and also to employer, Income Tax Department has introduced a new Form 12BB. This form, applicable from June 1, 2016, will act as a single entity that you can use to declare your to claim deduction for savings under Section 80 C, payment of house loan interest under Section 24, and HRA exemption under Section 10.
Deductions that can be declared under Form 12BB:
The standard Form 12BB is for all salaried Employees to claim tax deductions. You use can use it to claim deductions for leave travel allowance (LTA/LTC), house rent allowance (HRA), interest paid on home loans, and all other tax deductions pertaining to Chapter VI-A of the Income Tax Act.
House Rent Allowance (HRA):
With form 12BB, you can claim any HRA tax deductions under Section 10 (13A) of the Income Tax Act. Along with 12BB you will need to provide the relevant rent receipts for this deduction. You will also need to submit the name and address of the landlord. In the event the aggregate rent paid by you exceeds Rs 1 lakh, you will also need to submit the Permanent Account Number (PAN) of your landlord.
Amount claimed under Leave travel Concession (LTC)
With Form 12BB, you need to furnish amount and provide evidence of expenses made towards your travel. Unlike in the past, it is now mandatory to provide proof of all travel expenses in the form of receipts for your claim.
Interest on home loan under Section 24:
Earlier to claim deduction for interest paid on home loan, we have to submit interest certificate from the concerned bank. Now, in addtion to the same we will have to fill up Form 12BB to claim deductions under Section 24 of the Income Tax Act.
Savings / deductions under Chapter VI-A:
All tax deductions under Section 80C, Section 80CCC, and Section 80CCD, as well as other sections like 80E, 80G, and 80TTA come under Chapter VI-A of the IT Act. For deductions, fill up Form 12BB and provide details and proof of your investments and expenditures incurred related to the relevant section you are seeking deductions under.