As per the Finance Budget 2019, some Important Income Tax Section and Income Tax Rebate have changed. The Major modification including the Income Tax Slab Rate for the F.Y. 2019-20 is given below.
1) Income Tax Slab for the Financial Year 2019-20 is Same as Previous F.Y.2018-19
2) Raised the Income Tax Rebate U/s 87A up to Rs. 5000/- who's Taxable Income less than 5 Lakh.
3) Raised the Income Tax Standard Deduction U/s16(ia) from Rs. 40,000/- to 50,000/-
4) Raised the Tax Exemption from the Bank/Post Office Savings Interest from 10,000/- to 50,000/-
The feature of this Excel Utility is the following:-1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 20192) The Salary Structure as per the Assam State Govt employees in this Excel Utility3) Automated Individually Salary Sheet for each Employee4) Automated Income Tax Salary Sheet for each Employee 5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)6) Automated Income Tax Form 16 Part A&B for F.Y. 2019-207) Automated Income Tax Form 16 Part B for the F.Y. 2019-20