Saturday, 28 October 2017

Income Tax(IT/I.T) Calculation Software For FY 2017-2018 for AP,TS Teachers

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IT Programme 2017-2018.MS-Excel Programme assessment year 2016-2017 for financial year 2017-2018.Income-tax-software-2017-2018-financial-year-ap-teachers Income Tax 2017-2018 Click Here Download.Income Tax (IT/I.T) Software For 2017-2018 Finanacial Year(FY):New Slab Rates,Excel Sheet Softwares.It is helpful to calculate advance tax by giving assuming DA in data sheet and useful for both states TS &AP more details
www.incometaxindiaefiling.gov.in.Income Tax Software 2017-2018 for Teachers/ Employees in AP & Telangana States, Employees IT Calculator, New Slab rates, Latest Housing loan, 80C saving sections Download here.

IT/ Income Tax Software 2017-2018 for TS / AP Teachers IT Calculator.

Income Tax(IT/I.T) Software For FY 2017-2018 for Andhra Pradesh(AP),Telangana(TS) Teachers

Income Tax(IT/I.T) Software For FY 2017-2018 for Andhra Pradesh(AP),Telangana(TS) Teachersv
Andhra Pradesh(AP) Teachers Income Tax Software 2017-2018 Telangana(TS) Teachers Income Tax Software 2017-18 for All Teachers Income tax Slab rates  Employees Income Tax Calculation  Financial year 2017-18 Income Tax Assessment year 2018-2019,80C Saving limit  FY 2017-2018 AY 2018-19 AP Retirement Employees Income Tax Calculation Housing Loan Principal Amount Exemption and Housing Loan Interest Deduction and with CPS Employees Additional Benefit 80 CCD (1B). Income Tax Software 2017-18 Prepared by Vijaya Kumar Sir,Teachers Income tax calculation Updated Software 2017-18.
AP / TS Employees Income Tax Assessment calculate Steps:
➥Rates of income tax for the Financial year 2017-2018 - Assessment Year 2018-2019
➥No change in the Income Tax Slabs rate and exemption limit for Individual Person in Assessment Year 2017-18 and Financial year 2016-17.

➥There is no change in the rate of Education Cess and Secondary Higher Education Cess 1% on .
➥Official Income Tax of India Individual Income Tax.
➥Housing Loan Principal Amount Exemption and Housing Loan Interest Deduction Income Tax 2017-2018 .
➥Educational Loan and Two Children Tuition fee Reimbursement No tax. 
Income Tax Slabs for the Individual (Below 60 Years Age) for the Assessment Year 2017-2018.
How to calculate tax exemption for HRA?
∎The maximum HRA that can be claimed for tax exemption is minimum of Actual HRA Received or
∎40% (50% for metros) of Basic + Dearness Allowance or
Rent paid (-) 10% of (Basic + Dearness Allowance)

Save Tax U/s 80C, Section 80CCC, Section 80CCD of the Income Tax Act
  1. The maximum collective deduction allowed under Section 80C, Section 80CCC & Section 80CCD is Rs. 1,50,000.
  2. The most common investment instruments covered under Section 80C, Section 80CCC & Section 80CCD are:
  3. Public Provident Fund Accounts
  4. 5 Year Tax Saving Fixed Deposit
  5. Pension Plans Contribution to Employee Provident Fund
  6. Life Insurance Policy
  7. National Savings Certificate (NSC)
  8. Equity Oriented Mutual Fund
  9. You can avail the benefit of deduction u/s 80C by investing in the following schemes (Max Rs.1,50,000/-)
  10. Employee/ Voluntary Provident Fund (EPF/VPF)
  11. PPF (Public Provident fund)
  12. Sukanya Samriddhi Account
  13. National Saving Certificate (NSC)
  14. Senior Citizen’s Saving Scheme (SCSS)
  15. 5 years Tax Saving Fixed Deposit in banks/post offices
  16. Life Insurance Premium
  17. Pension Plans from Life Insurance or Mutual Funds
  18. NPS
  19. Equity Linked Saving Scheme (ELSS – popularly known as Tax Saving Mutual Funds)
  20. Central Government Employee Pension Scheme
  21. Principal Payment on Home Loan
  22. Stamp Duty and registration of the House
  23. Tuition Fee for 2 children
Note : Additional Deduction under Sec 80CCD NPS (Max Rs 50,000/-)
Income tax slab rates in India for different age groups and tax benefits offered by various life insurance policies, for the financial year 2017-18. Income Tax Slabs for Financial Year 2017-18 (Assessment Year 17-18). Income Tax Deductions on Section 80C, 80CCC & 80CCD, Section 80 TTA, Section 80GG, Section 80E, Section 80EE, Section 80CCG, Section 80D, Section 80DD, Section 80DDB, Section 80U, Section 80G, Section 80GGB, Section 80GGC and Section 80RRB Deductions. 
AP / TS Teachers/Employees Income Tax Software 2017-2018 Download
Income Tax Software for Teachers 2017-18 financial year Income tax Slab rates, Employees IT Calculator, New Slab rates, Latest Housing loan, 80C saving sections Download here.AP / TS Teachers / Employees Income Tax Software 2017-18 Download.Income Tax Software for Teachers 2017-18 financial year Income tax Slab rates, Employees IT Calculator, New Slab rates, Latest Housing loan, 80C saving sections Download here.

SectionDeduction onFY 2017-18
Section 80CInvestment in PPFRs. 1,50,000
Section 80CEmployee's share of PF contribution
Section 80CNSCs
Section 80CLife Insurance Premium payment
Section 80CChildren's Tuition Fee
Section 80CPrincipal Repayment of home loan
Section 80CInvestment in Sukanya Samridhi Account
Section 80CULIPS
Section 80CELSS
Section 80CSum paid to purchase deferred annuity
Section 80CFive year deposit scheme
Section 80CSenior Citizens savings scheme
Section 80CSubscription to notified securities/notified deposits scheme
Section 80CContribution to notified Pension Fund set up by Mutual Fund or UTI.
Section 80CSubscription to Home Loan Account Scheme of the National Housing Bank
Section 80CSubscription to deposit scheme of a public sector or company engaged in providing housing finance
Section 80CContribution to notified annuity Plan of LIC
Section 80CSubscription to equity shares/ debentures of an approved eligible issue
Section 80CSubscription to notified bonds of NABARD
80CCFor amount deposited in annuity plan of LIC or any other insurer for pension from a fund referred to in Section 10(23AAB).-
80CCD(1)Employee's contribution to NPS account (maximum up to Rs 1,50,000)-
80CCD(2)Employer's contribution to NPS accountMaximum up to 10% of salary
80CCD(1B)Additional contribution to NPSRs. 50,000
80TTA(1)Interest Income from Savings accountMaximum up to 10,000
80GGFor rent paid when HRA is not received from employerLeast of rent paid minus 10% of total income Rs. 5000/- per month 25% of total income
80EInterest on education loanInterest paid for a period of 8 years
80EEInterest on home loan for first time home ownersRs 50,000
80CCGRajiv Gandhi Equity Scheme for investments in EquitiesLower of - 50% of amount invested in equity shares or Rs 25,000
80DMedical Insurance - Self, spouse, childrenRs. 25,000
80DMedical Insurance - Parents more than 60 years old or (from FY 2015-16) uninsured parents more than 80 years oldRs. 30,000
80DDMedical treatment for handicapped dependant or payment to specified scheme for maintenance of handicapped dependantRs. 75,000
80DDDisability is 40% or more but less than 80%Rs. 1,25,000
80DDDisability is 80% or more
80DDBMedical Expenditure on Self or Dependent Relative for diseases specified in Rule 11DDLower of Rs 40,000 or the amount actually paid
80DDBFor less than 60 years oldLower of Rs 60,000 or the amount actually paid
80DDBFor more than 60 years oldLower of Rs 80,000 or the amount actually paid
80DDBFor more than 80 years old
80USelf suffering from disability:Rs. 75,000
80UIndividual suffering from a physical disability (including blindness) or mental retardation.Rs. 1,25,000
80UIndividual suffering from severe disability
80GGBContribution by companies to political partiesAmount contributed (not allowed in cash)
80GGCContribution by individuals to political partiesAmount contributed (not allowed in cash)
80RRBDeductions on Income by way of Royalty of a PatentLower of Rs 3,00,000 or income received

INCOME TAX SLABS FOR FY 2017-2018 (A.Y 2018-2019)

Income Tax Slab for HUFs & Individuals (below 60 years – for both Men & Women):
Income Slab                                                        Tax Rate
Income up to Rs 2,50,000                                        No Tax
Income from Rs 2,50,000 – Rs 5,00,000                    5%
Income from Rs 5,00,000 – 10,00,000                     20%
Income more than Rs 10,00,000                                 30%
Surcharge:   
10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess:

2% cess on income tax including surcharge
 Secondary and Higher Education Cess: 1% cess on income tax including surcharge
Rebate under Section 87A:  

Rs 2,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 3.5 Lakhs
Income tax slab for senior citizens (60 years to less than 80 years old) (both men & women):
Income Slab                                                           Tax Rate
Income up to Rs 3,00,000                                          No Tax
Income from Rs 3,00,000 – Rs 5,00,000                   5%
Income from Rs 5,00,000 – 10,00,000                     20%
Income more than Rs 10,00,000                                 30%
Surcharge:
➠10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore
➠15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess: 

➠2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge
Rebate under Section 87A: Rs 2,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 3.5 Lakhs
Income tax slab for Very senior citizens (80 years or more) (both men & women):
Income Slab                                                             Tax Rate
Income up to Rs 2,50,000                                             No Tax
Income from Rs 2,50,000 – Rs 5,00,000                  No Tax
Income from Rs 5,00,000 – 10,00,000                         20%
Income more than Rs 10,00,000                                     30%
Surcharge:
➠10% surcharge on income tax if the total income exceeds Rs ➠50 Lakhs but below Rs 1 crore
➠15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess: 

➤2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge

Important Links about Income Tax 2017-18: 

*INCOME TAX SOFTWARE FY 2017-18(AY-2018-19) TS & AP Dt.15.10.2017
*INCOME TAX CALCULATOR AS PER NEW UNION BUDGET 2017


*DIFFERENTIATE TAX CALCULATOR FOR FY 2016-17 & FY 2017-18
(COMPUTE YOUR TAX LIABILITY WITH COMPARING FY 2016-17 & 2017-18)
*FILING OF ETDS FORM 24Q  FY 2017-2018  - FOR FORM 24Q -Q1



(it can be useful  for Q1 to  Q4 for the FY 2017-18 .enter advance tax ,other  particulars in salary data sheet .then use  copy & past option in nsdl preparation utility for generation of form Q1 to Q4 )

INCOME TAX SLABS IN NEW BUDGET 2017

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IT Income tax software 2017-2018,income tax Programme 2017-18,IT Programme 2017-2018.MS-Excel Programme assessment year 2016-2017 for financial year 2017-2018.Income-tax-software-2017-2018-financial-year-ap-teachers Income Tax 2017-2018 Click Here Download.Income Tax (IT/I.T) Software For 2017-2018 Finanacial Year(FY):New Slab Rates,Excel Sheet Softwares.It is helpful to calculate advance tax by giving assuming DA in data sheet and useful for both states TS &AP more details www.incometaxindiaefiling.gov.in.Income Tax Software 2017-2018 for Teachers/ Employees in AP & Telangana States, Employees IT Calculator, New Slab rates, Latest Housing loan, 80C saving sections Download here. IT/ Income Tax Software 2017-2018 for TS / AP Teachers IT Calculator.

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