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Income Tax Software 2020-2021 & IT Calculation (AP, TS Employees)

Prakash Vemula 2 Comments

Download Income Tax Software 2020-2021 for calculation of IT from here for Financial Year 2019-2020 – the Assessment Year 2020-2021. Instructions should be followed for using the IT Software which was given in IT program file. Always use a new copy for preparation of IT Bill. Enter the particulars in IT Software datasheet very carefully with one by one column.

If you found anyone not related ignore them in it. Don’t use once used copy because there may be broken links which may lead to software wrong. Final Version IT Software are available soon here.

Income Tax Information: Finance Act 2014 has made the following changes relating to the determination of Income Tax payable by Salaried Employees:

  1. Taxable Income eligible for full exemption from income tax increased from Rs. 2 lakh to Rs. 2.5 lakh
  2. 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)
  3. Income Tax exemption on Interest paid on housing loan under Section 24 of the Income Tax Act increased from Rs. 1.5 lakh to Rs. 2 lakh
  4. In addition to the above three new changes, Income Tax Rebate of Rs. 2000 for taxable income up to Rs. 5 lakh continues this year also under Section 87A of Income Tax Act

“Finance Act 2013 provided relief in the form of rebate to individual taxpayers, resident in India, who are in the lower-income bracket, i. e. having total income not exceeding Rs 5,00,000/-. The amount of rebate is Rs 2000/- or the amount of tax payable, whichever is lower. This rebate is available from A.Y. 2015-16 and subsequent assessment years.”

IT Income Tax Software 2020-2021: IT Excel Program file links are provided for download. If anyone prepared on this, please send to the email: teachersbadi.in@gmail.com

IT Income Tax Software 2020-2021

Prepared byDownload File
Updated on 10/2/2020
K Vijay Kumar Income Tax Excel Program (Software) Get The File – AP
Get The File – TS
KSS Prasad IT Software Get The File
BS Chary IT Excel Program Get The File
AP & TS
Seshadri IT Software Get The File
AP & TS
PUTTA IT Software for EmployeesGet The File – TS
PUTTA IT Software for Contract JLGet The File
PUTTA IT Software for PensionersGet The File
APMS IT Income Tax Software Get The File
Download IT SoftwareIncome Tax Software
IT Income Tax Software 2020-2021

PDF Files – Forms

  1. IT Section-wise Info 2020-2021
  2. IT Income Tax Information in TELUGU
  3. Income Tax Details in Telugu
  4. IT Slabs and Calculation In Telugu 
  5. Income Tax Rules in Telugu
  6. IT Preparation Filling Form (IT Preparation Form New)
  7. Data Capture for IT Calculation (IT Preparation Form)
  8. Get Your ‘Total Yearly Salary” (PDF Form)
  9. Income Tax Circular: Circulars page
  10. IT Act 2017-2018
  11. Brief description video on 80ccd (1) 80ccd(1b)&80ccd(2) in Telugu 
  12. INCOME TAX DEPT CIRCULAR  FY 2019-2020

Scale & Basic Pay Details:

SLAB RATES:

A. Normal Rates of tax – Every Individual Less than of the age 60 Years

Income InTax
Upto Rs. 2,50,000/-No Tax ( Nil )
Between Rs.2,50,001 to 5,00,0005% (Total Income minus Rs.2,50,000)
Between Rs.5,00,001 to 10,00,000Rs.25,000+ 20% of (Total income minus Rs.5,00,000 lakhs)
Above Rs.10,00,000Rs. 1,25,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-

B. Every Individual up to 60 years to Less than of the age 80 years: (Senior Citizens)

Rates of tax for every individual, resident in India, who is of the age of sixty years or more but less than eighty years at any time during the financial year:

Income InTax
Upto Rs. 3,00,000/-No Tax ( Nil )
Between Rs.3,00,001 to 5,00,0005% Income in excess of Rs.3,00,000
Between Rs.5,00,001 to 10,00,000Rs.30,000+ 20% of income in excess of Rs.5,00,000 lakhs
Above Rs.10,00,000Rs.1,30,000+30% of income in excess of Rs.1,00,000

C. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year: (Super Senior Citizens)

Income InTax
Where the total income does not exceed Rs.5,00,000/-No Tax ( Nil )
Where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000/-20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-
Where the total income exceeds Rs. 10,00,000/-Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-

Income Tax Assessment

Net income rangeIncome-tax ratesSurchargeEducation cessSecondary and higher education cess
Up to Rs.2,50,000NilNilNilNil
Rs. 2,50,000 to Rs. 5,00,00010% of (total income minus Rs. 2,50,000)Nil2% of income-tax1% of income-tax
Rs. 5,00,000 to Rs. 10,00,000Rs. 25,000 + 20% of (total income minus Rs. 5,00,000)Nil2% of income-tax1% of income-tax
Rs. 10,00,000 to Rs. 1,00,00,000Rs. 1,25,000 + 30% of (total income minus Rs. 10,00,000)Nil2% of income-tax1% of income-tax
Above Rs.1,00,00,000Rs. 28,25,000 + 30% of (total income minus Rs. 1,00,00,000)10% of income-tax2% of income-tax and surcharge1% of income-tax and surcharge

Section 80C:

  1. Life Insurance Premium
  2. Premium / Subscription for deferred annuity For the individual, on the life of self, spouse or any child.
  3. Sum deducted from salary payable to Govt. Servant for securing deferred annuity for self-spouse or child Payment limited to 20% of salary.
  4. The contribution made under the Employee’s Provident Fund Scheme.
  5. Contribution to PPF For the individual can be in the name of self/spouse, any child & for HUF, it can be in the name of any member of the family.
  6. Contribution by an employee to a Recognised Provident Fund.
  7. Sum deposited in 10 year/15 year account of Post Office Saving Bank
  8. Subscription to any notified securities/notified deposits scheme. e.g. NSS
  9. Subscription to any notified savings certificate, Unit Linked Savings certificates. e.g. NSC VIII issue.
  10. Contribution to Unit Linked Insurance Plan of a Mutual Fund
  11. Contribution to fund set up by the National Housing Scheme.
  12. Housing Loan Principal amount paid
  13. Tuition fees paid at the time of admission or otherwise to any school, college, university or other educational institution situated within India for the purpose of full-time education of any two children. Available in respect of any two children.

Section 80CCG: As per the Budget 2012 announcements, a new scheme Rajiv Gandhi Equity Saving Scheme (RGESS) will be launched. Those investors whose annual income is less than Rs. 10 lakh (proposed Rs. 12 lakh from A.Y. 2015-16) can invest in this scheme up to Rs. 50,000 and get a deduction of 50% of the investment. So if you invest Rs. 50,000 (maximum amount eligible for an income tax rebate is Rs. 50,000), you can claim a tax deduction of Rs. 25,000 (50% of Rs. 50,000).

Section 80E: Deduction in respect of Interest on Loan for Higher Studies

Section 80G: Deduction in respect of Various Donations 100% or 50% without Restrictions.

Section 80GGC: Deduction in respect of contributions given by any person to political parties. | – Source: Income Tax of India

I. Income Tax Slabs

A. Income Tax Slabs for Men and Women employees.
a. Up to Rs. 2.5 Lakhs – Nil
b. From Rs. 2.5 to 5 Lakhs @5%
c. From Rs. 5 to 10 Lakhs @20%
d. Above Rs. 10 Lakhs @30%

B. For senior citizens above 60 yrs.

a. Up to Rs. 3 Lakhs Nil
b. From Rs. 3 to 5 Lakhs @ 5%
c. From Rs. 5 to 10 Lakhs@20%
d. Above Rs. 10 Lakhs @30%

II. Surcharge and Cesses:

A. Surcharge @ 0% will be levied below Rs. 1 crore
B. Education Cess @ 3% on I.T. paid.

III. 100% Exemption from Income:

  1. HRA as per formula u/s 10, (without counting D.A.)
  2. Conveyance allowance u/s 10 Rs. 3,200/- p.m.
  3. Medical Reimbursement, P.T. u/s 16,
  4. Housing Loan interest upto Rs.1.5 Lakh u/s 24 (borrowed after 1-4-99) / interest upto Rs. 2 Lakh u/s 24 (if borrowed after 1-4-2014)
  5. Interest on Education loan taken for self or dependents (spouse, son, daughter, brother) u/s 80E,
  6. Contribution to CMRF/PMRF/U/s 80G,
  7. P.P.F. Interest,
  8. Retirement benefits.
  9. LTC,
  10. LPG subsidy

IV. Deductions allowed under chapter VIA from Income:

  1. Health Insurance premium of self & Dependents up to Rs.25,000/ p.a. U/s 80D ( Rs. 30,000/- in case of senior citizens Expenses of Medical Treatment of Handicapped Dependent upto Rs. 75,000/ 80DD (for disability 80% or more deduction in Rs.1,25,000/).
  2. Expenses of Medical Treatment for cancer, Heart, Neuro, AIDS, chronic Renal failure, Haemophilia for self or dependent upto Rs. 40,000/- U/s 80DDB (Form 10-1 need no be enclosed from the Govt. Civil Surgeon from Fy 15-16) Rs.60,000/- for senior citizen (DDOs CAN NOT ALLOW IT)
  3. Physically Handicapped assessee (proper certificate should be enclosed) upto Rs. 75,000/- (for more than 80% disability Rs. 1,25,,000/-) may be exempted from income U/s 80U.V)
    TOTAL DEDUCTIONS UPTO 1.5 LAKH ONLY
  4. Amount deposited for getting pension scheme upto Rs.1,50,000/- U/s 80CC (Ex. LIC,Pension Fund)
  5. Premium to Contributory pension scheme upto 10% of the salary U/s 80CCD
  6. U/s 80C SAVINGS (Total Rs. 1.5 Lakh only)
    LIC + PF +APGLI + NABARD BONDS + TAX SAVINGS Bonds + FIXED DEPOSITS FOR
    MORE THAN 5 YEARS + HOUSING LOAN PRINCIPLE + GIS + PLI + ICICI BONDS + IDBI BONDS +TUITION FEES OF TWO CHILDREN (limited to 1.5 Lakh)+ Sukanya Samrudhi Yojana (Maximum 1.5 lakhs). Maybe deducted FROM INCOME UPTO Rs. 1.5 Lakh (savings, U/s80CC+80CCD+80C should be less than Rs. 1,50,001/- only.

VI. NEW SECTION 80 CCG FROM FINANCIAL YEAR 2017-2018:

  1. Maximum savings @ Rs. 25,000/- (on 50% ofRs. 50,000/-investment) for savings under Rajiv Gandhi equity share U/s 80CCG from this financial Year . Hence the limit of 80C + 80CC + 80CCD + 80CCG = 1.75 lakhs).

VII. u/s 80EE: deduction of an amount maximum Rs.1 lakh is allowable in respect of interest payable on home loan if it sanctioned in FY 2013-14 not exceeding Rs. 25 lakhs and the interest claimed for deduction under this section cannot be claimed u/s 24.

Income Tax Model Calculation

Income Tax Model Calculation Financial Year 2017-18 (A.Y. 2018-19). Details of income Tax Calculation for the salaried for the Financial Year 2015-16, Assessment Year 2016-17

  1. Pay: Rs. 8,36,400
  2. D.A.: Rs. 3,58,500
  3. H.R.A.: Rs. 1,28,000
    • Total of Rs. 13,22,900
  4. C.C.A.: Rs. —–
    • Total: Rs. 13,22,900
  5. H.R.A.: (as per formula) (-) Rs. 92,000
  6. P.T.: (-) Rs. 2,400
  7. Housing loan interest: (-) Rs. NIL
  8. CMRF/PMRF: (-) Rs. NIL
  9. PH allowance: (-) Rs. NIL
  10. Medical Reimbursement: (-) Rs. NIL
  11. EWF/SWF: (-) Rs. 70
  12. Interest on educational loan U/s 80E (-) Rs. 42,500
  13. Health insurance premium U/s 80D (-) Rs. 13,400
    • Total (-) Rs. 1,50,370
    • Gross Income Rs. 11,72,530

Deductions under Chapter VI-A

  1. U/s 80CC NIL
  2. U/s 80CCD NIL
  3. U/s 80U NIL
  4. U/s 80C
    a) Housing loan principal: NIL
    b) P.F. 63,000
    c) GIS 720
    d) APGLI 12,000
    e) LIC 38,460
    f) PLI 5,400
    g) NSC Bonds 12,000
    h) PPF 12,000
    i) Tuition Fees (2 children) 32,000 limited to (-) 1,50,0005) U/s 80CCG (RGESS) NIL
  • Net Income Chargeable under Head salaries(Gross Income – Total deductions allowed) Rs. 10,22,530
  • Total 1,75,580

NOTE:

  1. IT to be paid through IT Department challan/salary deductions
  2. TDS e-filing may be made from any Registered IT Practitioner by DDOs
  3. TAN & PAN should be taken by DDO. Any Returns to be filed with reference to TAN & PAN
  4. Every employee should take PAN Cards (MANDATORY)
  5. ALL employees NEED to file IT returns in SAHAJ FORM ONLY IF NET INCOME EXCEEDS 5 LAKHS
  6. Every employee should submit FORM – 16 along with calculation sheet to DDO in 1/2016so as to enable him to make arrangements for TDS before 2/2016
  7. Salary includes Pay, DA, HRA, IR, CCA, PH allowance, Addl. FP increments, arrears, surrender leave taken as per the acquittance from 03/2015 to 2/2016 and also PRC & Notional/AAS/DA/HRA/STEP UP arrears etc.
  8. It is the responsibility of the DDO to deduct the TDS at the average rate of Income Tax as applicable before disbursing the salary. To enable e-filing of TDS returns, a free TDS return preparation software is available on sites & Income Tax department

Senior Citizen: Individual who is of the age of 60 years or more but below the age of 80 years at any time during the previous year

Super Senior Citizen: Individual who is of the age of 80 years or more at any time during the previous year

Exemption of House Rent Allowance: A salaried individual having a rented accommodation can get the benefit of HRA (House Rent Allowance). This could be totally or partially exempted from income tax. However, if you aren’t living in any rented accommodation and still continue to receive HRA, it will be taxable. If you couldn’t submit rent receipts to your employer as proof to claim HRA, you can still claim the exemption while filing your income tax return. So, please keep rent receipts and evidence of any payment made towards rent. You may claim the least of the following as HRA exemption.
a. Total HRA received from your employer.
b. Rent paid less 10% of (Basic salary +DA)
c. 40% of salary (Basic+DA) for non-metros and 50% of salary (Basic+DA) for metros – How to claim HRA exemption.

Standard Deduction: The Indian Finance Minister, while presenting the Union Budget 2018, announced a standard deduction amounting to Rs. 40,000 for salaried employees. This was in the place of the transport allowance (Rs. 19,200) and medical reimbursement (Rs. 15,000). As a result, salaried people could avail an additional income tax exemption of Rs. 5,800 in FY 2018-19. The limit of Rs. 40,000 has been increased to Rs. 50,000 in the Interim Budget 2019. – Standard Deduction

Leave Travel Allowance (LTA): The income tax law also provides for an LTA exemption to salaried employees, restricted to travel expenses incurred during leaves by them. Please note that the exemption doesn’t include costs incurred for the entire trip such as shopping, food expenses, entertainment and leisure among others. You can claim LTA twice in a block of four years. In case an individual doesn’t use this exemption within a block, he/she could carry the same to the next block. Below are the restrictions which are applicable to LTA: LTA only covers domestic travel and not the cost of international travel. The mode of such travel must be either railway, air travel, or public transport – How to claim LTA

Section 80C, 80CCC and 80CCD(1): Section 80C is the most extensively used option for saving income tax. Here, an individual or a HUF (Hindu Undivided Families) who invests or spends on stipulated tax-saving avenues can claim deduction up to Rs. 1.5 lakh for tax deduction. The Indian government too supports a few as the tax-saving instruments (PPF, NPS etc.) to encourage individuals to save and invest towards retirement.
Expenditures/investment u/s 80C isn’t allowed as a deduction from income arising due to capital gains. It means that if the income of an individual comprises of capital gains alone, then Section 80C cannot be used for saving tax. Some of such investments are given below which are eligible for an exemption under Section 80C, 80CCC and 80CCD(1) up to a maximum of Rs 1.5 lakh.

  • Life insurance premium
  • Equity Linked Savings Scheme (ELSS)
  • Employee Provident Fund (EPF)
  • Annuity/ Pension Schemes
  • Principal payment on home loans
  • Tuition fees for children
  • Contribution to PPF Account
  • Sukanya Samriddhi Account
  • NSC (National Saving Certificate)
  • Fixed Deposit (Tax Savings)
  • Post office time deposits
  • National Pension Scheme

Medical Insurance Deduction (Section 80D): Section 80D is a deduction you can claim on medical expenses. One could save tax on medical insurance premiums paid for the health of self, family and dependent parents. The limit for Section 80D deduction is Rs 25,000 for premiums paid for self/family. For premiums paid for senior citizen parents, you can claim deductions of up to Rs 50,000. Additionally, health checkups to the extent of Rs 5,000 are also allowed and covered within the overall limit.

Interest on Home Loan (Section 80C and Section 24): Another key tax-saving tool is the interest paid on home loans. Homeowners have the option to claim up to Rs. 2 lakh as a deduction for interest on home loan for self-occupied property. If the house property is let out, you can claim a deduction for the entire interest pertaining to such a home loan. Please note that from FY 2017-18, the loss from house property that can be set off against other sources of income has been restricted to Rs. 2 lakh. In addition to the above, one can also claim the principal component of the housing loan repayment as a deduction under 80C up to a maximum limit of Rs 1.5 lakh. – Deductions from house property

Deduction for Loan for Higher Studies (Section 80E): Income Tax Act provides a deduction for interest on education loans. The significant conditions attached to claiming such deduction are that the loan should have been taken from a bank or a financial institution for pursuing higher studies (in India or abroad) by the individual himself or his spouse or children. One may begin claiming this deduction beginning from the year in which the loan starts getting repaid and up to the next seven years (i.e. total of 8 assessment years) or before repayment of the loan, whichever is earlier. Even a legal guardian could avail this income tax deduction. – Deductions from Section 80E

Deduction for Donations (Section 80G): Section 80G of the Income Tax Act, 1961 offers income tax deduction to an assessee, who makes donations to charitable organizations. This deduction varies based on the receiving organisation, which implies that one may avail a deduction of 50% or 100% of the amount donated, with or without restriction. – Section 80G

Deduction on Savings Account Interest (Section 80TTA): Section 80TTA of the Income Tax Act, 1961 offers a deduction of up to INR 10,000 on income earned from savings account interest. This exemption is available for Individuals and HUFs. In case the income from bank interest is less than INR 10,000, the whole amount will be allowed as a deduction. However, in case the income from bank interest exceeds INR 10,000, the amount after that would be taxable. – Deduction from Section 80TTA

Additional Deduction for Interest on Home Loan (Section 80EE)
Section 80EE allows homeowners to claim an additional deduction of Rs.50,000 (Section 24) for interest component of the home loan EMI. Provided, the loan must not be for more than Rs 35,00,000 and the value of the property must not be more than Rs 50,00,000. Furthermore, the individual must not have any other property registered under his name at the time the loan is sanctioned. – Deduction from Section 80EE

Additional Deduction for Interest on HBA (Section 80EEA):

  • Loan Sanctioned between 1.4.2019 to 31.3.2020 from financial institution /HFC
  • Stamp Duty Value of House Property (HP) not exceed Rs.45 Lakh
  • Not own any residential HP on the date of sanction of loan i.e. 1st-time buyer
  • when the deduction is allowed under Section 80EEA, not allowable in other section
  • Only to Individual (not for HUF, AOP etc)
  • Rs.1.50 Lakh is over and above Rs.2 Lakh u/s 24, hence total Rs. 3.50 Lakh
  • The carpet area of HP does not exceed 60 sqm (645 sq ft) in metropolitan cities including Delhi NCR & carpet area not exceed 90 sqm (968 sq ft) in any other cities
  • if a person jointly owns HP with spouse and they both paying the instalments of the loan, then both of them can claim this deduction
  • Section 80EEA Interest deduction is available from FY 2019-20 (AY 2020-21)
  • Note: Housing for all, the Govt has now extended the interest deduction allowed for LOW-COST housing loans & This Section 80EEA deduction is over and above Rs.2 Lakh, hence total upto Rs.3.50 Lakh allowable

IT Software 2019

Software NameStateDownload
Income Tax SoftwareAP & TSB S Chary
Get the File
APMS Income Tax SoftwareAPCh V R Murthy
Get the File
Income Tax SoftwareTSPutta
Get the File
Get the File
Pensioner IT
Income Tax SoftwareAP & TSKSS Prasad
Get the File
Income Tax SoftwareAPVijay K
Get the FILE
Income Tax SoftwareTSVijay K
Get the FILE

IT Excel Software 2018

  1. B Srinivasa Chary IT Software (TS + AP)
  2. KSS PRASAD IT SOFTWARE
  3. Putta IT Software / IT Software (TS)
  4. Putta IT Software / IT Software  (AP)
  5. K Vijay Kumar IT Software (TS) 
  6. K Vijay Kumar IT Software (AP)
  7. V.Srinivasulu SA IT Software
  8. Jaladi Ravi IT Software
  9. Nagendra IT Software
  10. Perumal Ramanjaneyulu IT Software ( AP )
  11. John Sunder IT Software
  12. Jayaram IT Software
  13. CV Prasad IT Software
  14. Income Tax Software FY for AP Govt Employees
  15. Income Tax Software for Telangana Govt Employees
  16. IT Software for AP Model Schools – Ch V Ramana Murthy

IT Income Tax Software 2017

  1. IT Software (Trial Version)
  2. Income Tax Software(KSS Prasad)
  3. Income Tax Software(KSS Prasad)
  4. IT Software by PUTTA  or Link (Telangana -PUTTS)
  5. IT Software by PUTTA  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 (B Srinivasa Chary)
  9. KCS Reddy’s IT Software
  10. INCOME TAX SOFTWARE By JAYARAM
  11. IT 2016-17 Excel Programme ( Trial Version ) for TS & AP 

Income Tax Software 2016:

Software
Name		Prepared
By		Download
here
Income Tax SoftwareRRGRDownload
Income Tax SoftwarePuttaDownload for AP
Download For TS
Income Tax Software for AP-TSBSCDownload
Income Tax SoftwareChNR Download
Download (Mobile)
Income Tax SoftwareKSSPDownload
Income Tax Software for AP VKDownload
Income Tax Software for TSVKDownload
Income Tax SoftwareJohnDownload
Income Tax Software for Agency AreasVKDownload
Income Tax SoftwareNZVDDownload
Income Tax Software KADAPADownload

IT Software 2015

Software
Name		Prepared
By		Download
here
Income Tax SoftwarePuttaDownload
Income Tax SoftwareBSCDownload
Income Tax SoftwareKSSPDownload
Income Tax SoftwareKSSPDownload
Income Tax Software for AP VKDownload
Income Tax Software for TSVKDownload
Income Tax Software for Those who are staying in Govt. QuartersVKDownload
Income Tax Software for Agency AreasVKDownload
Income Tax SoftwareRDownload
Income Tax Software  Download

Income Tax Software 2014

  1. Income Tax Software by C. Ramanjaneyulu – Get The File      
  2. Income Tax Software by Kota Vijay Kumar – Get The File  OR  Get The File
  3. Income Tax Software by B. Srinivasa Chary – Get The File
  4. Income Tax Software by K.S.S.Prasad – Get The File  OR Get The File
  5. Income Tax Software by Putta Srinivasa Reddy – Get The File
  6. Income Tax Software by Gandhamaneni – Get The File

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