Exemption limit for the general category of individual taxpayers proposed to be enhanced from Rs 1,80,000 to Rs 2,00,000 giving tax relief of Rs 2,000.
Income Tax Department, Govt. of India
The vision of Income Tax Department is to be a partner in the nation building process through progressive tax policy, efficient and effective tax administration and improved voluntary compliance.
All salaried tax payers earning Income below Rs. 5 Lacs, the Govt. has exempted such salaried tax payers from filing of Income Tax Return for this year also.
This is an Excel Utility for calculating Income Tax and Form 16. This utility is very clean and easy to operate. Just Fill the yellow cells and see the results at red cells.
TDS Preparation Excel Utility with Form – 16 for the FY 2011-2012 and AY 2012-2013, which uses Indian Rupee Symbol. Install ‘Foradian Font’ before using it.
Income Tax Preparation Utility in Excel for the FY 2011-2012 and AY 2012-2013, which can prepare at a time the TDS Calculation + Form 16 + SAHAJ (ITR-I).
This utility comes with a bar code. At present it is inter lashed with a particular TAN number. However, bar code can be developed for different TAN numbers.
Automated New SAHAJ (ITR 1) in Excel upon some inputs automatically fill SAHAJ (ITR1) along with acknowledgment. Taking color print out it may be submitted to the Income Tax Department. This may be beneficial for the individual taxpayers having income above 5 lakhs.
The Central Board of Direct Taxes has notified the scheme exempting salaried taxpayers with total income up to Rs. 5 lakh from filing income tax return for assessment year 2011-12, which will be due on July 31, 2011.