Free Download Automated Income Tax Preparation Excel Based Software All in One for Government and Non-Goverrnment Employees for the F.Y. 2019-20, With Tax Rebate Rs. 12,500 U/s 87A for F.Y.2019-20

Section 87A provides an income tax rebate to a resident individual having prescribed income. This rebate is also available to senior citizens. However, for a Super Senior Citizens, this deduction becomes irrelevant.

 For AY 2019-20 and AY 2020-21, the maximum income tax rebate is Rs.2,500/- and Rs.12,500/- respectively.

It is provided before the calculation of Cess of 4%.

Rebate under section 87A for AY 2019-20

Conditions to be satisfied

Under the following conditions rebate is allowed:

  1. You must be Resident Individual
  2. Total income* is up to Rs.3,50,000/-

If both the above conditions are satisfied, rebate under section 87A will be available.

*Total income is explained at the bottom of this article

Maximum Rebate

Rebate shall be lower of the following:

  1. Income tax before the rebate
  2. 2,500

Therefore, the maximum rebate for AY 2019-20 is Rs.2,500/-

Rebate under section 87A for AY 2020-21 

In Budget 2019:

The tax rebate has been increased to Rs.12,500/-.

Through this amendment, every resident taxpayer having total income* up to Rs. 5 lakh won’t have to pay income tax.

Conditions to be satisfied

Under the following conditions rebate is allowed:

  1. You must be Resident Individual
  2. Total income* is up to Rs.5,00,000/-

If both the above conditions are satisfied, rebate under section 87A will be available.

Maximum Rebate

Rebate shall be lower of the following:

  1. Income tax before the rebate or
  2. 12,500/-

Therefore, the maximum rebate for AY 2020-21 is Rs.12,500/-

Download All in One TDS on Salary for Government and Non-Government Employees for the F.Y 2019-2020 and A.Y 20120-2021 With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for F.Y. 2019-20

 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 and All Non-Govt(Private) 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

8) Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E for F.Y. 2019-20

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