The Financial Year 2016-17 and Assessment Year 2017-18 have is in the middle in the financial year. Now it is necessary to calculate your Income Tax liability for the Financial Year 2016-17. As per the New Finance Budget some changes, but the Income Tax Slab is the same as previous Financial Year.
The Section 80U have increased 75000/- P.A. and Rs. 125000/- P.A. for Blind persons.
Traveling Allowances also raised up to 1600/- P.M. and Blind Person can avail Rs. 3200/- P.M.
Section 80D Raised Rs. 25000/- and Sr.Citizen Rs. 30,000/-
Additional House Building Interest U/s 80EE has increased from Rs.1 Lakh to 1.5 Lakh, excluding the Tax Section 24B.
As per the CBDT Notification that the Advance Tax must be deducted and deposited to the Central Govt. So, you can calculate the Income Tax Liability for the F.Y.2016-17. Also furnished your Deduction and deposition U/s 80C + U/s 10 and Chapter VIA as amended by the Finance Budget 2016-17.
Here is given below the Automated Excel Based Software Only for the Central Govt Employees for the Financial Year 2016-17. By this Software you can prepare at a time your Income Tax Calculation + Individual Salary Structure as per Central Govt Salary Pattern + Individual Salary Sheet + Automated H.R.A. Exemption Calculation + Automated Form 16 Part A&B and Form 16 Part B for F.Y.2016-17.
Click here to Download the Excel Utility all in one for Central Govt employees for F.Y.2016-17.
