Budget 2014, what is the benefits of Personal Income Tax, Plus Master of Form 16 Part B with 12 BA for the Financial Year 2014-15

Click above link to Download Master of Form 16 Part B with 12 BA for the Financial
Year 2014-15.[ This Excel Utility can prepare at a time 50 employees
Form 16 Part B with 12 BA]

Feature of this utility :-

  • Prepare at a time 50 employees Form 16 Part B with 12 BA for FY 2014-15
  • Automatic Calculate the Tax Liability as per new Tax Slab
  • Individual Salary Structure [ Yearly Basis]
  • This utility can use both of Govt and Non Govt Employee
  • Automatic Convert the Amount to the In Words
  • You can prepare more than 1000 employees Form 16 Part B + 12 BA

Basic exemption limits for Individuals [As per Budget 2014-15]

The
basic exemption limit in case of individuals (other than senior
citizens) has been increased from existing Rs. 200,000 to Rs. 250,000.
The remaining income slabs and tax rates remain same.

In
the case of senior citizens (above the age of 60 years but less than 80
years) the basic exemption limit has been increased from existing Rs.
250,000 to Rs. 300,000. And for persons above the age of 80 years, the
basic exemption limit is Rs. 500,000.

Investment related deductions under section 80C

The investment related deduction under section 80C has been increased from existing Rs. 100,000 to Rs.150,000.
The New deduction have include as K.V.P.( Kissan Vikas Patra)

Home loan interest deduction limit

Under
section 24 of the Act, the deduction on interest paid on home loans
borrowed is up to Rs. 150,000 for the first residential property. This
deduction limit of Rs.150,000 has been increased to Rs. 200,000.

However,
a view could be taken that this current and proposed limit of Rs.
150,000 and Rs. 200,000 respectively is applicable only in case of the
first house property loan. The interest paid for the second and
subsequent home loans do not have any monetary limits to claim as
deduction.

Tax Relief Rs. 2,000/- U/s 87A will be continue FY 2014-15

Relief from Savings Bank Interest up to Rs. ten thousand U/s 80TTA, will be continue FY 2014-15

Click
below to Download Master of Form 16 Part B with 12 BA for the Financial
Year 2014-15.[ This Excel Utility can prepare at a time 50 employees
Form 16 Part B with 12 BA]


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