All in One TDS on Salary for Non-Govt employees for the Financial Year 2015-16 & Assessment Year 2016-17 [ This Excel Based Software can prepare at a time your Tax Compute Sheet + Salary Structure as per Private Concerned Salary Pattern + HRA Calculation + Form 16 Part A&B and Part B + Form 12 BA ]
This Excel Utility have all the changes by the Finance Budget 2015-16. All the Tax Section have incorporate in this Excel Utility.
The main Changes in the Income Tax for salaried person by the Finance Budget 2015-16 is given below:-
1. Increase in the limit of deduction in respect of health insurance premium from Rs.15,000 to Rs.25,000. U/s 80D
2. For senior citizens the limit will stand increased to Rs.30,000 from the existing Rs.20,000.U/s 80D
3. For very senior citizens of the age of 80 years or more, who are not covered by health insurance, deduction of Rs.30,000 towards expenditure incurred on the treatment will allowed.
4. The deduction limit of Rs.60,000 towards expenditure on account of specified diseases of serious nature is proposed to be enhanced to Rs.80,000 in case of very senior citizens U/s 80DDB
5. The limit on deduction on account of contribution to a Pension Fund and the New Pension Scheme is proposed to be increased from Rs.1 lakh to Rs.1.5 lakh U/s 80CC
6. Investments in Sukanya Samriddhi Account is already eligible for deduction under Section 80C Max. Rs.1.5 Lakh for Minor Girl Child below 10 Years
7. Transport allowance exemption is being increased from Rs.800 to Rs.1,600 per month U/s 10