Friday, 10 May 2019

Download New Auto Income Tax Calculator for FY 2019-20 version 14.0 in Excel

New financial year 2019-20 Tax and TDS calculation has begun and we have to calculate the Tax liability,Tax savings & TDS liability according to new scenario.
Auto tax calculator version 14.0 for FY 2019-20 is available to help you up to 31 July 2019 for calculation according to provision of Interim Budget 2019. Complete budget is expecting in June/July 2019. After formation of the new government, more changes are likely to come in effect after complete budget. New Auto Tax calculator will be modify accordingly.
Tax rates are not changed and remain same till final budget.
There are only 2 major changes which will impact the tax liability of a person.
1.      Standard deduction to all salaried people ( including Pensioners) has risen to Rs. 50,000/- from Rs 40,000/-
2.      A rebate u/s 87A up to 12500/-has risen to tax payers, who have their total taxable Income (after Exemption and all Deduction) up to Rs. 5,00,000/-. 
If total Income Increases even by Rs 10/- One will not get the rebate and will be taxed on total Income.
Please give me your feedback about the contents you would like to add or delete. 

Download New Auto Tax Calculator for FY 2019-20

Download Latest Form-16 Generator with Auto tax Calculator and Salary Statement - 3 in 1 in Excel.

Due to latest amendment made by Income Tax department in format of Form-16.  w.e.f 12/05/2019 vide notification_36_2019 dated 12/04/2019.
Now from AY 2019-20 every employer has to give form-16 part B to his employee in a new format. The department has made many new changes to give some more information & input regarding income and deduction etc.

Keeping in view I have made a 3 in 1 - Form-16 Generator, Auto Tax Calculator and Salary statement available to you in excel format.
Now with a less time, you can easily generate and print the
  1. ·         Salary statement,
  2. ·          Computation sheet,
  3. ·          Form-16 with Annexure to form -16, form 12BA,
  4. ·         Calculation of Income from house property with 80EE rebate,
  5. ·          Exempted allowances and Income from other sources.

Also you will be able to know the applicable rule (also hipper link) in Information & Rules for exemption and deduction section.

Download Form-16 Generator (New Format) with Auto tax Calculator and Salary Statement in Excel
from Calculator and form page

Form-16 Generator without Annexure & Salary Statement

If you want to Generate only Form-16 Part B without salary statement and its Annexure A & Form 12BA. You can use only Form-16 Generator with Auto Tax calculator. You have to fill the amount and select the heads in Tax calculator only.and print the

  1. Form-16 only.
  2. Computation sheet.
  3. Detail of  calculation of House Property & Exempted Allowances.  

 Download Form-16 Generator(without Annexures) in excel                                                  from Calculator and Form Page     (click here)                     

Form-16 new format from FY-2018-19

The CBDT has notified a new format for form-16 vide notification_36_2019 dated 12/04/2019..
The Income Tax department has made  many new changes in format of  Form-16 - the salary TDS certificate.requiring a detailed break-up of salary,tax exempted allowances paid to the employee and also all break-up of deduction claimed by employee.  
Also concurrent changes have been made in the format of TDS return (24Q) filed by employer with the tax department and form-16. Which will allow the taxman to cross check the employee's ITR, Form-16 and employer TDS return.
Now from AY 2019-20 w.e.f 12/05/2019 every employer has to give form-16 part B to his employee in a new format.