Automated Excel Based ITNS Challan 280 for Self/Advance Tax deposit Form, with Income Tax Deduction–Financial Year 2015 – 16

Income Tax
guidelines–Financial Year 2015 – 16

Assessment Year 2016 – 17


1.   Please read the instructions before filling the form. The
form needs to be filled in all aspects.

  1. All investment proofs
    should be made during the financial year Apr 2015 to Mar 2016.

In case the investment is made in any other name other
than you, you need indicate your    Relationship.

For claiming rebate under section 80DD, 80DDB and
80U, please furnish a certificate by an authorized person in the prescribed
form as defined by income tax act.

5.              Mid
Year joiners are required to furnish their previous income details in Form 12B
along with the salary certificate (stamped and signed by the employer) i.e.
Form 16 & Income Tax computation for
calculating      the correct tax liability for
the current year. In case of any income, other than salary please fill &
sign Form 12 C for the same & submit along with the Investment proofs.

  1. Employee will be the held
    responsible for any Income tax liability to the company arising out of
    wrong declaration, suppression of facts by employee, false or forged

Excel Based  Income Tax Challan 280 ITNS
  [ This Form is used for the purpose for Self and Advance Tax deposit.
Who have still not deposit the amount of Tax which payable through this Challan
280 and submit to the Bank and get the Challan Receipt.]


Tax on

Rent Allowance

Subject to submission of Rental Agreement, Monthly Rent Receipts and PAN of the
landlord in case the rent paid is more than Rs. 8,333 per month or Rs. 100,000
per year.

For Tax
Calculation, least of the following is tax exempt

– Actual
HRA Received

– Actual Rent
paid over 10% of Basic salary

50% or  40% of Basic salary based on city of residence
(Metro/Non Metro)

claiming benefit under HRA, employee needs to submit original Rent Receipt of
every quarter.

fill complete details on the rent receipts attached.

of Rent receipts are not allowed.

please note rent agreement alone does not constitute proof of payment of rent.

Leased Accommodation

15% of taxable salary or actual rent of the house, whichever is less.

(Domiciliary)U/s 80D

on actual medical expenses by the employer towards the amount spent by the
employee in obtaining medical treatment for himself or any member of his
family, not exceeding in the aggregate to Rs. 25000 in a year, is exempted from
tax and Sr.Citizen Rs.30,000/- P.A.

Allowance U/s 10

up to a maximum of Rs. 1600 per month for up to 80% and Rs.3200/- for above 80%
only for Phy.Disable Persons

/ Items eligible for Deductions under 80 C

(Maximum eligible amount is Rs. 1,50,000)

Insurance u/s 80D

Paid on Medical policy of self, spouse, children is exempt up to Rs.25,000 and
an additional benefit of Rs.25,000 in case of dependent parents below 60 years
and Rs 30,000 in case of dependent parents above 60 years (Senior Citizen).

incurred on Health check up for self, spouse, dependent children / parents are
exempted with in the overall limit, not exceeding the aggregate limit of Rs.

In case if
the premium will be due in the month of Feb 2015 & March 2015, you need to
submit the last year receipts with the declaration. Late payment Charges and
service tax will not qualify for the benefit.

treatment of handicapped dependent with disability u/s 80DD

incurred on medical treatment and maintenance of spouse, children, parents,
brothers and sisters of the individual is deductible up to a fixed amount
of Rs. 75,000. For person with severe disability over specified 80 % the limit
is Rs. 125,000.Please submit the photocopy of certificate issued by the
competent medical authority in a Government Hospital with the form 10i and
detail of amount spent on treatment or training.

treatment of dependent u/s 80DDB

incurred on medical treatment (specified disease or ailment as prescribed by
the board) of self, spouse, children, parents, brothers and sisters is
deductible up to Rs. 60,000 and for senior citizen the limit is Rs. 80,000.
Please submit the photocopy of certificate issued by the competent medical
authority with form 10 (i)

with Disability u/s 80U

individual suffering from not less than 40% of disability can claim fixed
deduction of Rs. 75,000.Rs. 125,000 for persons with severe disability of over
80%. A certificate from specified medical authority has to be given to claim
the benefit with form 10i

on Savings Account (Newly Introduced) – 80TTA


80TTA is proposed to be introduced to provide deduction to an individual or a
Hindu undivided family in respect of interest received on deposits (not being
time deposits) in a savings account held with banks, cooperative banks and post
office. The deduction is restricted to Rs 10,000 or actual interest whichever
is lower.
under Section 80G

Payment above INR 10,000 – Sections 80G and 80GGA Presently, deduction
in respect of donations to charitable trusts is available under section 80G in
respect of any donation being a sum of money. Similarly, under section 80GGA
deduction is available in respect of donation for scientific research, rural
development, etc. Currently there is no restriction for mode of payment for
eligibility of deduction, which can be paid in cash also. Now it is provided
that any such payment exceeding ` 10,000 shall only be allowed as deduction if
such sum is paid in any mode other than cash.

benefit on Housing Loan U/s 24B


·         where the loan is
taken on or after April 1, 1999-Rs 2,00,000/-

·         where loan is taken
earlier – Rs 30,000/-

   New section 80EE inserted by the
Finance Minister in the 2013 union Budget in order to promote affordable
housing to the first time home loan buyers only by allowing an additional
deduction of Rs 1 Lac under section 80EE

of Section 80EE are

deduction is available to only Individuals.

     2) if you
have no existing house in your name and intended to be self occupied for the
“First time house buyers” only

You have
bought a new house, and House cost of the house is maximum of Rs
40 lacs

4) Loan is approved and taken after 1-4-2013,

5) Loan does not exceed  Rs 25 Lacs

the  Extra interest deduction that you will get is Rs 1,00,000/- under
section 80EE.If the whole amount of Rs 1 lac is not exhausted in the
first   year then it can be carried forward to the 2nd year also but
not more than that.

NPS 80CCD (I) – Tier I – Part of 80C. However no deduction
is available in respect of employee contribution which is excess of 10% of the
salary of the employee.

NPS 80CCD (II) – Tier II – Over and above
80C.  However no deduction is available in respect of employer’s
contribution which is excess of 10% of the salary of the employee.

Note: as per the section 80CCE the aggregate amount of deduction under sections
80C, 80CCC and Section 80CCD(I) shall not exceed Rs. 1,50,000/-. However the
made by the Central Government or any other employee to a pension scheme u/s
80CCD (II ) shall be excluded from the limit of Rs.1,00,000/- provided
under this Section.

RGESS (Rajiv Gandhi
Equity Saving Scheme) – 80CCG

an annual income of Rs 10 lac will
get tax benefits for investing up to Rs 50,000 in the capital markets. The
maximum investment permissible under the Scheme is Rs 50,000 and the investor
would get a 50 percent deduction of the amount invested from the taxable income
for that year. To benefit the small investors, the investments are allowed to
be made in installment in the year in which tax claims are made.

Download All in One Income Tax Preparation Excel Based Software
for Govt and Non-Govt employees for Financial Year 2015-16
[ This Excel Utility can prepare at a time the Tax
Compute Sheet + Arrears Relief Calculation + Automatic Form 10E + Automatic HRA
Exemption Calculation + Automatic Form 16 Part A&B and Part B + Individual
Salary Structure + Individual Salary Sheet for Assessment Year 2016-17] 

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