Saturday, May 2, 2020

Income Tax (IT) Softwares 2020-2021 for AP,TS Employees, Teachers New Slab rates

Income Tax/ IT Calculation Software For FY 2020-2021 for AP,TS Employees, Teachers. AP employees, Teachers Income Tax calculation Software For 2020, it software 2020 for teachers in andhra pradesh and Telangana States for 2020-2021 financial year.
As per  Budget 2020  a new tax regime giving taxpayers an option to pay taxes as per the new tax slabs from FY 2020-21 onwards. Any individual opting to be taxed under the new tax regime from FY 2020-21 onwards will have to give up certain exemptions and deductions. So, the employee or pensioner must know which of these two benefits would be available through Income Tax Calculation Software and choose the better one.
Income Tax(IT/I.T) Calculation Software For FY 2020-2021 for Andhra Pradesh(AP),Telangana(TS) Teachers.IT Income tax software 2021,income tax Programme 2020-2021, IT Programme 2020.MS-Excel Programme Income Tax 2020-2021 Income Tax (IT/I.T) Software For 2020-2021 Financial 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 incometaxindiaefiling Income Tax Software 2020-2021 for Teachers/ Employees in AP & Telangana States, Employees IT Calculator, New Slab rates, Latest Housing loan, 80C saving sections details  Latest Income Tax Software FY 2020-2021 for AP State Govt Employees ,Teachers , All Departments i.e Teaching, Non Teaching ,Vacation Posts, Non Vacation Posts is Exclusively Prepared by KSS Prasad Teachers Income Tax Software 2020-2021 for Gunturbadi AP.Income Tax Calculation Software 2020-2021 For AP,TS Teachers.Income Tax Calculation Software 2021 (FY 2020-2021) Assessment Year (AY- 2021-2022).



IT/ Income Tax Software 2020-2021 for TS / AP Teachers IT Calculator.
Income Tax(IT/I.T) Software For FY 2020-2021 for Andhra Pradesh(AP), Telangana(TS) Teachers
Andhra Pradesh(AP) Teachers Income Tax Software 2020-2021  Telangana(TS) Teachers Income Tax Software 2019-20 for All Teachers Income tax Slab ratesEmployees Income Tax Calculation Financial year 2019-20 Income Tax Assessment year 2020-2021,80C Saving limit FY 2019-2020 AY 2019-20 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 2020 Prepared by Vijaya Kumar Sir,Teachers Income tax calculation Updated Software 2020-2021


New in Income Tax  FY 2020-21 and AY 2021-22: 
The Tax Slab rate and exemption limit remain unchanged for individuals from the Financial year 2019-20 and Assessment Year 2020-21.

As per  Budget 2020  a new tax regime giving taxpayers an option to pay taxes as per the new tax slabs from FY 2020-21 onwards.
Any individual opting to be taxed under the new tax regime from FY 2020-21 onwards will have to give up certain exemptions and deductions. So, the employee or pensioner must know which of these two benefits would be available through Income Tax Calculation Software and choose the better one.
ఆదాయపు పన్ను గణన FY 2020-21 (AY 2021-22) లో కొత్త విషయం: 
As per Budget 2020  Guidelines Slab rates  01-02-2020 రోజు ప్రవేశ పెట్టిన బడ్జెట్ లో నూతనంగా తీసుకువచ్చిన 6 అంచెల స్లాబ్ లో టాక్స్ చెల్లిస్తే 1,50,000ల 80C వదులుకోవాల్సి వస్తుంది. పాత మూడు స్లాబ్ ల విధానం లో అయితే 1,50,000ల సేవింగ్ చేసుకునే అవకాశం ఉంటుంది.అయితే ఉద్యోగి లేదా పెన్షనర్ ఈ రెండింటిలో ఏది లాభదాయకమో ఇన్కమ్ టాక్స్ గణన  సాఫ్ట్వేర్స్ ద్వారా తెలుసుకొని ఎంచుకోవాల్సి ఉంటుంది.
For More details Read:  Budget 2020 Income Tax New Slab rates for 2020-21 Revised tax Rates , income tax calculator



Income Tax Slab rares 2021-2022
Tax Rate for Individuals
Up to Rs. 2,50,000 - Nil
From Rs. 2,50,001 to Rs. 5,00,000 - 5%
From Rs. 5,00,001 to Rs. 7,50,000 - 10%
From Rs. 7,50,001 to Rs. 10,00,000 - 15%
From Rs. 10,00,001 to Rs. 12,50,000 - 20%
From Rs. 12,50,001 to Rs. 15,00,000- 25%
Above Rs. 15,00,000 - 30%

It’s important to note that these new tax rates are only applicable to those individuals who do not wish to avail specified exemptions or deductions. It means that these lower tax rates will be applied to their total income directly without allowing any benefit of deductions and exemptions. The deductions and exemptions that will not be allowed under this regime include:

1.) Standard deduction from salary and profession tax
2.) House Rent Allowance
3.) Housing Loan Interest
4.) Leave Travel Allowance
5.) Deductions under Chapter VIA of the Income tax Act, 1961 such  section 80C (life insurance premium), section 80CCC (pension premium), 80D (health insurance premium), 80TTA (bank interest), etc.

However, individuals who would like to continue to claim applicable exclusions and deductions may do so, but they will have to follow the existing tax rates, which are as follows:
INCOME TAX SLABS FOR FY 2019-2020 (A.Y 2020-2021)Income Tax Slab for HUFs & Individuals (below 60 years – for both Men & Women):
Income SlabTax Rate
Income up to Rs 2,50,000No Tax
Income from Rs 2,50,000 – Rs 5,00,0005%
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 senior citizens (60 years to less than 80 years old) (both men & women):
Income Slab Tax Rate
Income up to Rs 3,00,000No 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 5,00,000No 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

Individual Tax
  1. Rebate under section-87A  : As per the amendments to Section 87A, if your annual taxable income is INR 5,00,000 or lower, you can avail the tax rebate. The existing laws made way for a 2,500 income tax rebate. However, the updated law ensured that the limit was increased to a 12,500 income tax rebate
  2. Standard Deduction for salaried tax payers increased from Rs. 40,000 to Rs. 50,000.
  3. Rent exempted from TDS increased to Rs. 2.4 lakh from Rs. 1.8 lakh.
  4. TDS exemption on interest on post office and bank deposits raised from Rs. 10,000 to Rs. 40,000.
  5. Gratuity limit increased from Rs. 10 Lakh to Rs. 30 lakh.
  6. Exemption on Capital Gains Tax under Section 54 of up to Rs. 2 crore on residential property can now be claimed for investment of proceeds in 2 residential properties once in a lifetime.
  7. IT returns and refunds to be processed within 24 hours.
  8. IT scrutiny to be made simpler with digital-unmanned system where the identity of the IT officer and tax payer remains anonymous.





S.NO.INCOME TAX SOFTWAREDOWNLOAD
1IT Software 2020-21 for AP & Telangana for AY 2021-22 Click Here
2KSS Prasad Income Tax Software FY 2020-21 Click Here
3Putta Srinivas Reddy Income Tax Software FY 2020-21 Click Here
4Vijay Kumar Income Tax Software FY 2020-21 Click Here
5Zaheeruddin STO, Kakinada IT Software FY 2020-21 Click Here
6C.Ramanjaneyulu Income Tax Software FY 2020-21 Click Here
7B.Srinivasa Chary Income Tax Software FY 2020-21 Click Here
8Seshadri Income Tax Software FY 2020-21 Click Here
9Ramzan Ali Income Tax Software FY 2020-21 Click Here
10Mobile Version Income Tax Software FY 2020-21 Click Here
11Model School Teachers (APMS IT)   Software FY 2020-21 Click Here
12 DSC Wise Teachers IT Calculation Tables 2020-21 for AP, TS   Click Here
13IT  Softwares 2020-21 AP TS Teachers, Employees with PRC Arrears Click Here
14AP Employee Online Salary Details, Online Employee Pay Details Click Here
15TS Employees, Teachers Pay details, Month wise Salary Statement      Click Here
16Telangana Employees  Salary certificate Click Here
17How to Download SBI Home Loan Statement Interest and Principal   Click Here
18How to Get LIC Premium Statements for Income Tax Purpose Click Here
19How to Pay PLI ( Postal Life Insurance ) Premium Online Click Here
20Tax Rebate u/s 87A Income Tax Exemption Guide    Click Here
21Income Tax Slab Rates and Deductions Analysis for FY 2020-21 Click Here
22How to do Income Tax E-Filing Online Step by Step Process Click Here
23Income Tax e-Filing Processed (Confirmed) OR Not? Check Here Click Here


80C & 80CCE- Maximum Exemption up to Rs.150000
Investments up to Rs.1.5 lac in PF, VPF, PPF, Employee contribution in NPS,Insurance Premium, Housing loan principal repayment, NSC, ELSS, long term bank Fixed Deposit, Post Office Term Deposit, etc. are deductible from the taxable income. There is no limit on individual items, (for example) all 1 lac can be invested in NSC or PPF etc.

  1. Provident Fund (PF) & Voluntary Provident Fund (VPF) 
  2. Postal Life Insurance ( PLI ) 
  3. APGLI / TGLI 
  4. Life Insurance Premiums 
  5. Unit linked Insurance Plan 
  6. Public Provident Fund (PPF) 
  7. National Savings Certificate (NSC) 
  8. Home Loan Principal Repayment & Stamp Duty and Registration 
  9. Tuition fees for Two children 
  10. Equity Linked Savings Scheme (ELSS) 
  11. 5-Yr bank fixed deposits (FDs) 
  12. Pension Funds or Pension Policies – Section 80CCC 
  13. Infrastructure Bonds 
  14. NABARD rural bonds 
  15. Senior Citizen Savings Scheme 2004 (SCSS )

Income Tax Deductions Section wise Details below :

Income Tax Deductions Section wise Details below :
SectionDeduction onFY 2019-20
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, children Medical Insurance – Parents more than 60 years old or (from FY 2015-16) uninsured parents more than 80 years oldRs. 25,000 Rs. 30,000
80DDMedical treatment for handicapped dependant or payment to specified scheme for maintenance of handicapped dependant Disability is 40% or more but less than 80% Disability is 80% or moreRs. 75,000 Rs. 1,25,000
80DDBMedical Expenditure on Self or Dependent Relative for diseases specified in Rule 11DD For less than 60 years old For more than 60 years old For more than 80 years oldLower of Rs 40,000 or the amount actually paid Lower of Rs 60,000 or the amount actually paid Lower of Rs 80,000 or the amount actually paid
80USelf suffering from disability: Individual suffering from a physical disability (including blindness) or mental retardation. Individual suffering from severe disabilityRs. 75,000 Rs. 1,25,000
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



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