Click here to download the Private employees All in One TDS on Salary for FY 2016-17 [ This Excel Utility can prepare at a time Tax Compute Sheet + Automatic HRA Exemption Calculation + Automated Form 16 Part A&B and Form 16 Part B+ Form 12 BA]
Tax Compute Sheet
How to calculate your Income Tax for the Financial Year 2016-17 and Assessment Year 2016-17. It is most easy to calculate, if you read carefully the Manual of Income Tax which published by the Income Tax Department in the year 2010. Just add the new some Income Tax Section which included in the Last Finance Budget 2014. The New Most effective Income Tax Section is 87A (Tax Rebate up to Rs.5,000/-).Income Tax Slab Raised up to Rs. 2.5 Lakh and U/s 80C has also raised up to Rs. 1.5 Lakh.
As per the Finance Budget 2016 Income Tax Section 87A has raised up to Rs. 5000/- from Rs. 2000/-. The Income Tax Section 80CCD(1b) has introduce which Max Rs 50000/- out of U/s 80C Slab.
Also it is mandatory to download the Form 16 Part A from the TRACES portal ( www.tdscpc.gov.in). Below given the Income Tax preparation Manual which you can download and read the same.