The Financial Year 2015-16 has already started and as per the Finance Budget 2015, the Tax Slab have not changed, same as previous financial year 2014-15. But Limit of some Tax Section has Increased by this Finance Budget. The Section 80U have increased 75000/- P.A. and Rs. 125000/- P.A. for Blind persons. Traveling Allowances also raised up to 1600/- P.M. and Blind Person can avail Rs. 3200/- P.M. Section 80D Raised Rs. 25000/- and Sr.Citizen Rs. 30,000/-
It is necessary to calculate your Tax Liability for the Financial Year 2015-16 as the D.A. has also increased to the Govt employees time to time.
It is most hazard to calculate individually HRA Calculation separately another sheet and also it is hazard to calculate the Arrears Relief Calculation from the financial Year 2000-01 to 2015-16. This Excel Utility can prepare all the calculation just a moment. Thus your time may reduce for calculating the actual Income Tax of each employee.
This Excel Based Software Can prepare more than 500 employees Tax Computed One by One for the Financial Year 2015-16 and Assessment Year 2016-17
Feature of this Utility:-