IT Income Tax Softwares 2024 for AP & Telangana Updated IT Claculation Software Program for 2023-24 FY and 2024-25 AY
IT Software 2024 programs Updated Income Tax Software FY 2023-24 Assessment Year 2024-25 for AP, TS Teachers Employees
Govt of India- Income Tax Department Tax Rates 2023-24 FY [2024-25 AY]
Income Tax 2023-24 FY [2024-25 AY] Softwares : Overview
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Income Tax 2023-24 FY Tax Softwares – Online Tax Calculator 2023-24 FY |
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Title of the Article |
Income Tax 2023-24 FY Softwares – Online Tax Calculator 2023-24 FY |
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Tax Slabs applicable to |
All Employees in India |
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Financial Year |
2023-24 |
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Tax Type |
Personal Income Tax 2023-24 on Salaries |
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No of Tax Regimes |
Two [Old Tax Regime and New Tax Regime] |
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Tax Calculation Type |
Income Tax 2023-24 Calculator Excel Softwares |
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Category |
IT Income Tax Softwares 2024 |
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Status |
Income Tax Softwares available |
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Incometax India Official website |
https://incometaxindia.gov.in/ |
Income Tax FY 2023-24 and AY 2024-25 Latest update:
The Finance Minister of India Nirmala Sitharaman garu presented the Union Budget 2023 on 1st February, 2023 and introduced new income tax slabs and rates for the new tax regime. The new tax regime was introduced with 6 slabs, which have now been decreased to 5 income tax slabs for regular individuals, senior citizens and HUF (Hindu Undivided Family). Moreover, the basic exemption limit was also increased to Rs. 3 lakh from the earlier Rs. 2.5 lakh in the case of the new tax regime for FY 2023-24. However, no changes for the tax slabs and rates were made in the case of the old tax regime for AY 2024-25 which will remain the same as income tax slab FY 2022-23 (AY 2023-24).
A tax rebate on an income of Rs 7 lakh has been introduced in the new tax regime (applicable for FY 2023-24).
- Please note that the tax rates in the New tax regime is the same for all categories of Individuals, i.e. Individuals, Senior citizens and Super senior citizens.
- Individuals with Net taxable income less than or equal to Rs 5 lakh will be eligible for tax rebate u/s 87A i.e. tax liability will be NIL in both – New and old/existing tax regimes.
- In Budget 2023, rebate under new regime has been increased and therefore, income upto Rs 7 lakh will be tax-free from FY 2023-24.
Any individual opting to be taxed under the new tax regime will have to give up certain exemptions and deductions. So, the employee or pensioner must know which of these two benefits would be available through Income Tax Calculation Software and choose the better one.
No income tax filing required for senior citizens above 75: Union finance Minister announced in Union Budget 2021 that senior citizens above the age of 75 years, who only have pension and interest as a source of income, will be exempted from filing their income tax return (ITR). These senior citizens have not been exempted from paying tax but are exempted from filing an ITR if they fulfill certain conditions. They will be exempted from filing ITR only in the case where the interest income is earned in the same bank where the pension is deposited.
ఆదాయపు పన్ను గణన FY 2023-24 (AY 2024-25) ముఖ్యాంశాలు:
- As per new Budget Guidelines Slab rates 2023 బడ్జెట్ లో నూతనంగా తీసుకువచ్చిన 5 అంచెల స్లాబ్ లో టాక్స్ చెల్లిస్తే 1,50,000ల 80C వదులుకోవాల్సి వస్తుంది.
- కొత్త పన్ను విధానంలో రూ. 7 లక్షల ఆదాయంపై పన్ను రాయితీ ప్రవేశపెట్టబడింది (FY 2023-24కి వర్తిస్తుంది).
- పాత మూడు స్లాబ్ ల విధానం లో అయితే 1,50,000ల సేవింగ్ చేసుకునే అవకాశం ఉంటుంది. ఉద్యోగి లేదా పెన్షనర్ ఈ రెండింటిలో ఏది లాభదాయకమో ఇన్కమ్ టాక్స్ గణన సాఫ్ట్వేర్స్ ద్వారా తెలుసుకొని ఎంచుకోవాల్సి ఉంటుంది.
Income tax slabs under the new tax regime for all individuals for FY 2023-24 (AY 2024-2025)
New Budget Income Tax slab rates 2024 (New Regime)
As per the Budget 2023 announcement, new income tax slab rates FY 2023-24 for every individual is as below:
| Annual Taxable Income | New Tax Regime | Old Tax Regime |
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| Up to Rs.2.5 lakh | Exempt | Exempt |
| Over Rs.2.5 lakh to Rs.3 lakh | Exempt | 5% |
| Over Rs.3 lakh to Rs. 5 lakh | 5% | 5% |
| Over Rs.5 lakh to Rs.6 lakh | 5% | 20% |
| Over Rs.6 lakh to Rs. 9 lakh | 10% | 20% |
| Over Rs.9 lakh to Rs.10 lakh | 15% | 20% |
| Over Rs.10 lakh to Rs.12 lakh | 15% | 30% |
| Over Rs.12 lakh to Rs.15 lakh | 20% | 30% |
| Above Rs.15 lakh | 30% | 30% |
Income Tax Slab rares 2023-2024(New Regime):
Tax Rate for Individuals and HUF’s
The income tax slab rates under the new income tax regime will now be as follows:
Rs 0 to Rs 3 lakh – 0% tax rate
Rs 3 lakh to 6 lakh – 5%
Rs 6 lakh to 9 lakh – 10%
Rs 9 lakh to Rs 12 lakh – 15%
Rs 12 lakh to Rs 15 lakh – 20%
Above Rs 15 lakh – 30%
If you want to Choose old tax Regime:
It’s important to note that these new tax rates are only applicable to those individuals who do not wish to avail specified exemptions or deductions. It means that these lower tax rates will be applied to their total income directly without allowing any benefit of deductions and exemptions. The deductions and exemptions that will not be allowed under this regime include:
1.) Standard deduction from salary and profession tax
2.) House Rent Allowance
3.) Housing Loan Interest
4.) Leave Travel Allowance
5.) Deductions under Chapter VIA of the Income tax Act, 1961 such section 80C (life insurance premium), section 80CCC (pension premium), 80D (health insurance premium), 80TTA (bank interest), etc.
However, individuals who would like to continue to claim applicable exclusions and deductions may do so, but they will have to follow the existing tax rates, which are as follows:
Income Tax Slab Rates for FY 2023-24 (AY 2024-25) Old Regime
For Individual Male/Female with age <60 Yrs
Taxable Income Up to Rs. 2,50,000 – Nil
Rs. 2,50,000 to 5,00,000 – 5%
Rs. 5,00,000 to 10,00,000 – 20%
Rs. 10,00,000 & above – 30%
Individual Tax
- 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. Rebate under section 87A of Income Tax Act helps taxpayers to reduce their tax liability. Resident individuals having a net taxable income less than or equal to INR 5,00,000 will be able to claim a tax rebate of a maximum of INR 12,500 or the amount of tax payable, whichever is lower under both tax regimes.
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In Budget 2023, the tax rebate for individuals has been increased to INR 25,000 which means individuals having taxable income up to INR 7,00,000 can claim rebate under 87A under new tax regime which shall be applicable from FY 2023-24 (AY 2024-25) onwards.
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Standard Deduction for salaried tax payers is Rs. 50,000.
- Section 16(ia) of the Income Tax Act, 1961 (hereinafter referred to as ‘the IT Act’) provides that every salaried taxpayer could claim a flat deduction of upto Rs. 50,000. Further, even taxpayers deriving pension income would be eligible to claim such standard deduction.
- Rent exempted from TDS increased to Rs. 2.4 lakh from Rs. 1.8 lakh.
- TDS exemption on interest on post office and bank deposits raised from Rs. 10,000 to Rs. 40,000.
- Gratuity limit increased from Rs. 10 Lakh to Rs. 30 lakh.
- 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.
- IT returns and refunds to be processed within 24 hours.
- IT scrutiny to be made simpler with digital-unmanned system where the identity of the IT officer and tax payer remains anonymous.
1. Additional deduction of Rs. 50,000 under Section 80 C, CCC, CCD(1): Deduction allowed under Section 80C, 80CCC, and Section 80 CCD(1) for savings/investments, premium for annuity / pension fund and employee contribution to NPS respectively has been increased to Rs. 1.5 lakh from Rs. 1 lakh (Section 80CCE Limit)
IT Income Tax Softwares 2024 FY 2023-2024
1. KSS PRASAD IT 2024 SOFTWARE for AP,TS Employees ( Updated AP,TS NEW )
2. Putta IT Software 2024 / IT Software(AP, TS New)
HRA & Home Loan Interest Exemption Declaration Form 2
PROPOSED INCOME TAX TABLE (as new Basic pay)
IT Income Tax Software FA 2023-2024: PDF Files – Forms
5. INCOME AND TAX Govt official CALCULATOR 2023-2024 ( PDF Form ) – Circulars page
6. Get LIC Premium Statements for Income Tax Returns Purpose
INCOME TAX 2021-2022 CALCULATION PROCESS IN TELUGU (New)
Income Tax Excel Softwares 2024
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INCOME TAX SOFTWARE |
DOWNLOAD |
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IT Software 2023-2024 for AP & Telangana for AY 2023-24 |
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KSS Prasad Income Tax Software FY 2023-24 |
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Putta Srinivas Reddy Income Tax Software FY 2023-24 |
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Kota Vijay Kumar medakbadi Income Tax Software FY 2023-24 |
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C.Ramanjaneyulu Income Tax Software FY 2023-24 |
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Seshadri Income Tax Software FY 2023-24 |
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B.Srinivasa Chary Income Tax Software FY 2023-24 |
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DSC Wise Teachers IT Calculation Tables 2023-24 for AP, TS |
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How to Download SBI Home Loan Statement Interest and Principal |
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How to Get LIC Premium Statements for Income Tax Purpose |
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How to Pay PLI ( Postal Life Insurance ) Premium Online |
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IT Softwares 2023-24 AP TS Teachers, Employees with PRC Arrears |
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AP Employee Online Salary Details, Online Employee Pay Details |
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TS Employees, Teachers Pay details, Month wise Salary Statement |
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Telangana Employees Salary certificate |
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Tax Rebate u/s 87A Income Tax Exemption Guide |
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Income Tax Slab Rates and Deductions Analysis for FY 2022-23 |
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How to do Income Tax E-Filing Online Step by Step Process |
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Income Tax e-Filing Processed (Confirmed) OR Not? Check Here |
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Zaheeruddin STO, Kakinada IT Software FY 2023-24 |
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Ramzan Ali Income Tax Software FY 2023-24 |
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Mobile Version Income Tax Software FY 2023-24 |
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Model School Teachers (APMS IT) Software FY 2023-24 |
Housing loan Interest Tax Deduction Clarification in Telugu for Section 24, 80EE & 80EEA
Frequently Asked Questions by DDOs for Housing Loan Interest Deductions.
హౌసింగ్ లోన్ విషయంలో తరచు అడుగుతున్న ప్రశ్న ఏంటంటే ఇంట్రెస్ట్ అనేది సెక్షన్ 24 మాత్రమే కాకుండా ఇంకా వేరు సెక్షన్లలో ఇంట్రెస్ట్ డిడక్ట్ అవుతుంది అని. హౌసింగ్ లోన్ ఇంట్రెస్ట్ సంబంధించిన సెక్షన్ల గురించి ఓసారి చూద్దాం.
సెక్షన్ 24 : ఈ సెక్షన్ లో గరిష్టంగా 2లక్షల వరకు హౌసింగ్ లోన్ పైన చెల్లించిన ఇంట్రెస్ట్ కి మినహాయింపు కలదు.
నిబంధనలకు లోబడి సెక్షన్ 24 కి అదనంగా ఇంట్రెస్ట్ మినహాయింపు ఉన్న సెక్షన్ల వివరాలు నిబంధనలు ఏంటి ఎవరికి వర్తించవచ్చు అనేది చూద్దాం.
సెక్షన్ 80EE : సెక్షన్ 24 లో 2లక్షల వరకు మినహాయింపు పొగ ఇంకా అదనంగా చెల్లించిన ఇంట్రెస్ట్ ఈ సెక్షన్ లో గరిష్టంగా 50,000 వరకు అదనపు మినహాయింపు కలదు.
80 EE వర్తింపు నిబంధనలు:
1. హోమ్ లోన్ బ్యాంక్ ల నుండి లేదా హౌసింగ్ ఫైనాన్సు కంపెనీల నుండి తీసుకుని ఉండాలి.
2. లోన్ FY 2016 -17 (01.04.2016 నుండి 31.03.2017 మధ్య) లో మాత్రమే తీసుకుని ఉండాలి.
3. వారి పేరిట కేవలం ఈ ఒక్క ఇల్లు మాత్రమే ఉండాలి.
4. వారు ఈ ఇంటి నిర్మాణం కోసం తీసుకున్న రుణం 35లక్షలు లేదా 35లక్షల లోపు ఉండాలి
5. ఇట్టి ఇంటి విలువ (ప్రభుత్వ విలువ) 50లక్షలు లేదా 50లక్షల లోపు ఉండాలి.
పై 5నిబంధనలు సంతృప్తి చెందిన వారు అదనపు 50,000 మినహాయింపుకు అర్హులు.
సెక్షన్ 80EEA : సెక్షన్ 24 లో 2లక్షల వరకు మినహాయింపు పొగ ఇంకా అదనంగా చెల్లించిన ఇంట్రెస్ట్ ఈ సెక్షన్ లో గరిష్టంగా 1,50,000 వరకు హౌసింగ్ లోన్ పైన చెల్లించిన ఇంట్రెస్ట్ కి అదనపు మినహాయింపు కలదు.
80 EEA వర్తింపు నిబంధనలు:
1. లోన్ బ్యాంక్ ల నుండి లేదా హౌసింగ్ ఫైనాన్సు కంపెనీల నుండి తీసుకుని ఉండాలి.
2. లోన్ FY 2019 -20 (01.04.2019 నుండి 31.03.2020 మధ్య) లో మాత్రమే తీసుకుని ఉండాలి.
3. వారి పేరిట కేవలం ఈ ఒక్క ఇల్లు మాత్రమే ఉండాలి.
4. రిజిస్ట్రేషన్ కోసం ఇంటి విలువ (ప్రభుత్వ విలువ) 45లక్షలు లేదా 45లక్షల లోపు విలువ ఉన్న ఇంటికి స్టాంప్ డ్యూటీ చెల్లించి ఉండాలి.
పై 4నిబంధనలు సంతృప్తి చెందిన వారు అదనపు 1,50,000 మినహాయింపుకు అర్హులు.
పై రెండు సెక్షన్లు (80EE & 80EEA) నిబంధనలు సంతృప్తికరంగా ఉన్నవారు మాత్రమే అదనపు మినహాయింపు వర్తిస్తుంది.
డి.డి.ఓ లకు సెక్షన్ 192 ప్రకారం ఉద్యోగులకు చెల్లించిన వేతనాలకు ఆదాయ పన్ను ఎలా గణించాలి ఎలాంటి సెక్షన్ల ప్రకారం మినహాయింపులు ఉంటాయి అనేది తెలుపుతూ ప్రతి సంవత్సరం ఇన్కమ్ టాక్స్ డిపార్ట్మెంట్ వాయు సర్క్యూలర్ జారీ చేస్తారు. ఈ సంవత్సరం జారీ చేసిన సర్క్యూలర్ 20/2020 మన వెబ్సైట్ నందు పొందుపరచడం జరిగింది.
Housing loan Interest Tax Deduction Clarification in Telugu for Section 24, 80EE & 80EEA
Housing loan Interest Tax Deduction Clarification in Telugu for Section 24(b), 80EE & 80EEA : Home loan Interest Deduction 2,00,000 in Income Tax FY 2021-22. Section 80EEA – Deduction on home loan interest for affordable housing extended in Budget 2021. What is Section 80EE?, Section 80EE Eligibility Criteria details.
Housing loan Interest Tax Deduction Clarification in Telugu for Section 24, 80EE & 80EEA
Housing loan Section 24(b) Benefis
Deduction of Rs 2 lakhs for self occupied property and entire interest for let-out property.
Section 80EEA Eligibility Criteria
Additional deduction amounting to Rs 1,50,000 is allowed in addition to deduction under section 24(b).
Loan should be sanctioned between 1st April 2019 – 31st March 2020.
Stamp duty value of the house should not exceed Rs 45 lacs.
Carpet area of the house should not exceed 60 sqmtr in metro cities and 90 sqmtr in other cities.
Eligibility Criteria of Section 80EE:
Individual taxpayers who have bought a house for the first time and taken a home loan can claim the tax deduction benefit under section 80EE.
Value of the house should be Rs.50 lakh or less.
Home loan availed should be Rs.35 lakh or less.
Deduction limit is upto Rs. 50,000 per annum and only available on the interest paid for the home loan.
Loan should be sanctioned by a recognised financial institution and disbursed during the period between April 2016 to March 2017.
IT Excel Softwares & CALICULATOR
# INCOME AND TAX Govt CALCULATOR
# INCOME TAX DSC Wise DSC 2006, 2008, 2012 Model IT Software
Read : Income Tax Slab Rates and Deductions for the Financial Year 2019-20 (AY 2019-20)
# INCOME TAX DSC Wise DSC 2006, 2008, 2012 Model IT Software
Read : Income Tax Slab Rates and Deductions
Income Tax Slabs for the Individual (Below 60 Years Age)
| Income range per annum | Tax Rate FY 2019-20, AY 2021-22 | Tax Rate FY 2018-19, AY 2019-20 |
| Up to Rs. 2.5 lakhs | No Tax | No Tax |
| Above Rs. 2.5 lakhs to Rs. 5 lakhs | 5% + 4% cess | 5% + 4% cess |
| Above Rs. 5 lakhs to Rs. 10 lakhs | 20% + 4% cess | 20% + 4% cess |
| Above Rs. 10 lakhs to Rs. 50 lakhs | 30% + 4% cess | 30% + 4% cess |
| Above Rs. 50 lakhs to Rs. 1 crore | 30% + 10% surcharge + 4% cess | 30% + 10% surcharge + 4% cess |
| Above Rs. 1 crore | 30% +15% surcharge + 4% cess | 30% +15% surcharge + 4% cess |
| Rebate under section 87(A) | 100% tax rebate subject to maximum of Rs. 2,500 available to resident individual whose total income does not exceed Rs. 3.5 lakhs | 100% tax rebate subject to maximum of Rs. 2,500 available to resident individual whose total income does not exceed Rs. 3.5 lakhs |
Income tax slabs for senior citizens including both male and female taxpayers of age more than 60 years but less than 80 years
| Income range per annum | Tax Rate FY 2019-20, AY 2021-22 | Tax Rate FY 2018-19, AY 2019-20 |
| Up to Rs. 3 lakhs | No Tax | No Tax |
| Above Rs. 3 lakh to Rs. 5 lakhs | 5% + 4% cess | 5% + 4% cess |
| Above Rs. 5 lakhs to Rs. 10 lakhs | 20% + 4% cess | 20% + 4% cess |
| Above Rs. 10 lakhs to Rs. 50 lakhs | 30% + 4% cess | 30% + 4% cess |
| Above Rs. 50 lakhs to Rs. 1 crore | 30% + 10% surcharge + 4% cess | 30% + 10% surcharge + 4% cess |
| Above Rs. 1 crore | 30% +15% surcharge + 4% cess | 30% +15% surcharge + 4% cess |
| Rebate under section 87(A) | 100% tax rebate subject to maximum of Rs. 2,500 available to resident individual whose total income does not exceed Rs. 3.5 lakhs | 100% tax rebate subject to maximum of Rs. 2,500 available to resident individual whose total income does not exceed Rs. 3.5 lakhs |
Income tax slab for super senior citizen including both male and female taxpayers of age more than 80 years
| Income range per annum | Tax Rate FY 2019-20, AY 2021-22 | Tax Rate FY 2018-19, AY 2019-20 |
| Up to Rs. 2.5 lakhs per annum | No Tax | No Tax |
| Up to Rs. 5 lakhs per annum | No Tax | No Tax |
| Above Rs. 5 lakhs to Rs. 10 lakhs | 20% + 4% cess | 20% + 4% cess |
| Above Rs. 10 lakhs to Rs. 50 lakhs | 30% + 4% cess | 30% + 4% cess |
| Above Rs. 50 lakhs to Rs. 1 crore | 30% + 10% surcharge + 4% cess | 30% + 10% surcharge + 4% cess |
| Above Rs. 1 crore | 30% +15% surcharge + 4% cess | 30% +15% surcharge + 4% cess |
Exempted income:
| Tax Head | Firms | Domestic Companies |
| Income Tax for turnover upto Rs. 400 crores | 30% | 25% |
| Income Tax for turnover above Rs. 400 crores | 30% | 30% |
| Surcharge as % of income tax | 12% of tax in case the total income exceeds Rs. 1 crore |
· 7% of tax in case income is more than Rs. 1 crore but less than Rs. 10 crore. · 10% of tax in case income is more than Rs. 10 crore. |
| Cess as % of tax and surcharge | 3% of tax plus surcharge | 3% of tax plus surcharge |
Tax slabs for Firms and Domestic Companies FY 2019-20
The above table highlights the latest tax slabs for the firms and domestic companies. The tax treatment in both the cases differs from the tax treatment of individuals and HUFs.
Savings (80C) in various savings :
Savings made in the medals of GPF, ZPGPF, APGLI, GIS, LIC, PLI, National Saving Certificates, Public Provident Fund, Sukanya Samruddhi Yojana, ELSS, ULIPS etc., Pre his up to Spouse High School, The fees paid to higher studies from the school, the original (principle) paid on home loan, stamp duty paid for registration in the financial year for the year. Except for 1.5 lakhs.
Saving in the Annuity Savings Scheme (80 CCC): Premium paid for ONutty schemes taken by LIC or other insurance providers.
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.
- Provident Fund (PF) & Voluntary Provident Fund (VPF)
- Postal Life Insurance ( PLI )
- APGLI / TSGLI
- Life Insurance Premiums
- Unit linked Insurance Plan
- Public Provident Fund (PPF)
- National Savings Certificate (NSC)
- Home Loan Principal Repayment & Stamp Duty and Registration
- Tuition fees for Two children
- Equity Linked Savings Scheme (ELSS)
- 5-Yr bank fixed deposits (FDs)
- Pension Funds or Pension Policies – Section 80CCC
- Infrastructure Bonds
- NABARD rural bonds
- Senior Citizen Savings Scheme 2004 (SCSS )
Income Tax Deductions Section wise Details below :
| Section | Deduction on | FY 2018-19 |
| 80CC | For 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 account | Maximum up to 10% of salary |
| 80CCD(1B) | Additional contribution to NPS | Rs. 50,000 |
| 80TTA(1) | Interest Income from Savings account | Maximum up to 10,000 |
| 80GG | For rent paid when HRA is not received from employer | Least of rent paid minus 10% of total income Rs. 5000/- per month 25% of total income |
| 80E | Interest on education loan | Interest paid for a period of 8 years |
| 80EE | Interest on home loan for first time home owners | Rs 50,000 |
| 80CCG | Rajiv Gandhi Equity Scheme for investments in Equities | Lower of – 50% of amount invested in equity shares or Rs 25,000 |
| 80D | Medical Insurance – Self, spouse, children Medical Insurance – Parents more than 60 years old or (from FY 2015-16) uninsured parents more than 80 years old |
Rs. 25,000 Rs. 30,000 |
| 80DD |
Medical 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 more |
Rs. 75,000 Rs. 1,25,000 |
| 80DDB |
Medical 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 old |
Lower 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 |
| 80U |
Self suffering from disability:
Individual suffering from a physical disability (including blindness) or mental retardation. Individual suffering from severe disability |
Rs. 75,000 Rs. 1,25,000 |
| 80GGB | Contribution by companies to political parties | Amount contributed (not allowed in cash) |
| 80GGC | Contribution by individuals to political parties | Amount contributed (not allowed in cash) |
| 80RRB | Deductions on Income by way of Royalty of a Patent | Lower of Rs 3,00,000 or income received |
Salaries to be paid as income: –
Pay, DA, HRA, IR, CCA, Allowances, Medical Allowances, Additional Incentive Allowance, Surrender Lease Salary, PRC Arrears, Step Up Arrivals, Vacation Time Salary, etc. The Navi is reckoned as income.
Non-Income Issues: –
Cash withdrawals received from GPF / GIS / AP (TS) GLI after receipt of retirement, earned money on cash holidays, semi-annual leave, LTC, travel reimbursement, medical reimbursement and GPF, AP (TS) .
HRA exemption:
Under Section 10 (13A), the sum of any of the following three factors may be exempt from the total income.
The amount of rented house rent
Home Rental Paid Amount – 10% Basic + DA
40% wage
The home rental allowance (HRA) to 3,000 / – per month (36,000 / – per year) is required to submit the receipt to the DDO to get the entire HRA exemption. The PAN number is to be paid by the owner of the house if the rent is 1 lakh. HRA exemption does not apply to those living in their own home.
- No Income tax for individuals with Annual Taxable Income of upto Rs. 5 lakh. No change in Income Tax Slabs.
- Surcharge increased by 3% for individuals with Income of Rs. 2-5 crores and by 7% for income more than Rs. 5 crores.
- Aadhaar card can now be used interchangeably for PAN card. Thus, you no longer need PAN to file income tax returns.
- Additional deduction of Rs. 1.5 lakhs for interest on home loan availed for purchase of Affordable houses of up to Rs. 45 lakh till March 2020.
- Income tax deduction of Rs. 1.5 lakhs for interest on loan taken to buy an electric vehicle.
- Pre-filled ITR for Individuals.
- IT scrutiny to be made simpler with a digital-unmanned system where the identity of the IT officer and taxpayer remains anonymous.
- Immediate Aadhaar card for NRIs with an Indian passport, no waiting period of 180 days.
- Income Tax Exemption limit on withdrawal from National Pension System to 60% from 40%.
Income Tax Caliculations 2018-19
Updated Income Tax Software 2018-19 for AP &TS
# Income Tax Exemption Guide, Deduction Sections for 2018-19
# Income Tax Slab Rates and Deductions for 2018-19
#Income Tax Calculation 2018-19 detailed process
# Income Tax Exemption Guide for FY 2018-19
# Circ.No .1/2017 Dt,10/1/2017 Income tax Deduction from Salaries 2018-19
IT Excel Software FA 2017-2018 AY 2018-2019:
(for Assessment Year 2018-2019)
1. B Srinivasa Chary IT Software 2018 (TS + AP)
2. KSS PRASAD IT SOFTWARE 2018
3. Putta IT Software 2018 / IT Software ( TS)
4. Putta IT Software 2018 / IT Software (AP)
3. K Vijay Kumar IT Software 2018 (TS) 12-02-2018
4. K Vijay Kumar IT Software 2018 (AP) 12-02-2018
5. V.Srinivasulu SA IT Software 2018 (Updated On 08.01.2018)
6. Jaladi Ravi IT Software 2018
7. Nagendra IT Software 2018
8. Perumal Ramanjaneyulu IT Software 2018( AP )
9. John Sunder IT Software 2018
10. Jayaram IT Software 2018
11. CV Prasad IT Software 2018
12. Income Tax Software FY 2017-18 for AP Govt Employees
13. Income Tax Software for Telangana Govt Employees
14. IT Software for AP Model Schools – Ch V Ramana Muthy
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IT Income Tax Software FA 2016-2017 AY 2017-2018
(for Assessment Year 2017-2018)
1. IT Software (Trial Version)
2. Income Tax Software(30/1/2017)(KSS Prasad)
3. Income Tax Software(11/02/2017)(KSS Prasad)
4. IT Software by PUTTA 17/1/2017 or Link (Telangana -PUTTS)
5. IT Software by PUTTA 17/1/2017 or Link (AP -PUTTA)
6. VIjay kumar’s IT Software (AP – Vijaykumar)
7. Vijay kumars’ IT Software (Telangana – Vijaykumar)
8. BS CHary’s IT Software 2017 (B Srinivasa Chary)
9. KCS Reddy’s IT Software
10. INCOME TAX SOFTWARE 2016-17 By JAYARAM
11. IT 2016-17 Excel Programme ( Trial Version ) for TS & AP
12. Income Tax Calculation in Telugu PDF File download
13. Income Tax Exemption Guide
14. Circular No .1/2017 Dt,10/1/2017 Income tax Deduction from Salaries 2016-17
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