As per the Finance Budget 2019, some Important Income Tax Section and Income Tax Rebate have changed. The Major modification including the Income Tax Slab Rate for the F.Y. 2019-20 is given below.
1) Income Tax Slab for the Financial Year 2019-20 is Same as Previous F.Y.2018-19
2) Raised the Income Tax Rebate U/s 87A up to Rs. 12,500/- who’s Taxable Income less than 5 Lakh.
3) Raised the Income Tax Standard Deduction U/s16(ia) from Rs. 40,000/- to 50,000/-
4) Raised the Tax Exemption from the Bank/Post Office Savings Interest from 10,000/- to 50,000/-
5) Introduce New Section 80EEA for New Home Loan Interest Rs.1.5 Lakh.
Non-Govt Employees for the Financial Year2019-2020 and Assessment Year 20120-2021 With New Format of Form 16 Part B.
The feature of this Excel Utility is the following:-
1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 2019
2) The Salary Structure as per the Govt & Non-Govt employee’s Salary Pattern
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee
5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)
6) Automated Income Tax Form 16 Part A&B for F.Y. 2019-20 in New Format
7) Automated Income Tax Form 16 Part B for the F.Y. 2019-20 in New Format