For Individual (age below 60 years), Income Tax is Nil upto a Net Income of Rs. 2,00,000/-. Beyond that Tax @ 10% upto Rs. 5,00,000/-.
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.
For Individual (age below 60 years), Income Tax is Nil upto a Net Income of Rs. 1,80,000/-. Beyond that Tax @ 10% upto Rs. 5,00,000/-.
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.
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).