Thursday, January 16, 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.Income Tax(IT/I.T) Calculation Software For FY 2020-2021 for Andhra Pradesh(AP),Telangana(TS) Teachers.IT Income tax software 2017-2018,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 detailsincometaxindiaefiling 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 2019-20 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 2019-20 for Gunturbadi AP.Income Tax Calculation Software 2020-2021 For AP,TS Teachers.Income Tax Calculation Software 2020-2021 Financial Year 2019-2020 (FY 2019-20) Assessment Year (AY-2019-20).



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 2020Prepared by Vijaya Kumar Sir,Teachers Income tax calculation Updated Software 2020-2021

AP / TS Employees Income Tax Assessment calculate Steps:

  1.  Rates of income tax for the Financial year 2019-20   - Assessment Year 2020-2021
  2.  No change in the Income Tax Slabs rate and exemption limit for Individual Person in Assessment Year 2020-2021 and Financial year 2019-20.
  3.  There is no change in the rate of Education Cess and Secondary Higher Education Cess 1% on.
  4.  Official Income Tax of India Individual Income Tax.
  5.  Housing Loan Principal Amount Exemption and Housing Loan Interest Deduction Income Tax 2020-2021 .
  6.  Educational Loan and Two Children Tuition fee Reimbursement No tax. 
NEW in INCOME TAX 2019-20 (AY 2020-21)  
  1.  Section 87A: ప్రకారం పన్ను చెల్లించాల్సిన ఆదాయము 5లక్షల లోపు ఉన్న వారికి చెల్లించాల్సిన టాక్స్ లో రూ.12,500 లకు రిబేట్ సదుపాయాన్ని పెంచారు. ఈ సెక్షన్ ఉపయోగించుకుని 5లక్షల లోపు ఆదాయం కలిగిన వారు పూర్తి టాక్స్ మినహాయింపు పొందుతారు.
  2.  Section 16 గత ఆర్థిక సంవత్సరం 2019-20కు నూతనంగా జీతం ద్వారా వచ్చిన ఆదాయంలో నుండి గరిష్టంగా Standard Deduction గా రూ.40,000 వరకు సెక్షన్ 16(ia) ద్వారా మినహాయింపునిచ్చారు దీనిని ఈ ఆర్థిక సంవత్సరం 2019-20కు 50,000 లకు పెంచారు.

Income Tax Slab for FY 2019-20  AY 2020-21

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.
INCOME TAX SLABS FOR FY 201 (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



Read : Income Tax Slab Rates and Deductions for the Financial Year 2019-20




S.NO.INCOME TAX SOFTWAREDOWNLOAD
1IT Software 2019-20 for AP & Telangana for AY 2019-20 Click Here
2KSS Prasad Income Tax Software FY 2019-20 Click Here
3Putta Srinivas Reddy Income Tax Software FY 2019-20 Click Here
4Vijay Kumar Income Tax Software FY 2019-20 Click Here
5Zaheeruddin STO, Kakinada IT Software FY 2019-20 Click Here
6C.Ramanjaneyulu Income Tax Software FY 2019-20 Click Here
7B.Srinivasa Chary Income Tax Software FY 2019-20 Click Here
8Seshadri Income Tax Software FY 2019-20 Click Here
9Ramzan Ali Income Tax Software FY 2019-20 Click Here
10Mobile Version Income Tax Software FY 2019-20 Click Here
11Model School Teachers (APMS IT) Software FY 2019-20 Click Here
12 DSC Wise Teachers IT Calculation Tables 2019-20 for AP, TS   Click Here
13IT  Softwares 2019-20 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 2019-20   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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