No-doubt, in the market of internet there are various Tax Calculation Software. All are calculate Tax on Taxable Income only but not provide other facility which is applicable for All salaried Employee i.e. Central Government Employee or State Government Employee. This is a update version of previous Tax Calculation utility of Gsoftnet. This updated Tax Calculation Utility Generates "Form-16", Computation of Income Tax, Generate Month-wise Salary Statement of Salaried Employee as per notification dated 08.10.2013 for the Asstt. Year 2014-15.
Facility of this software:
Easy wat to Calculate Income Tax, Generate Month-wise Salary Statement and Form 16 with Annexure "A" and "B" in new amended format. In this Software Taxpayee (Salaried Employee) Enter their personal Data i.e. under Chapter -VIA Deductions and other applicable Deduction like as House Loan Interest, HRA Exemption, Income from Other Source etc. After enter
Deduction of Chapter-VIA and other applicable Deductions i.e. u/s. 80G, 80E, 80D as well as u/s. 89(i) it Calculate accurate Income Tax and surcharge there on. It suggest to Salaried Employee (Taxpayee) whether he is Tax payable or Refundable.
This Software is based on Income Tax circular dated 08.10.2013 issued by Income Tax Department for Assessment Year 2014-15.
Physical Requirements:
- OS required Windows-2000, XP, Vista, Windows-7, Windows-8 etc.
- MS Office-7 or Above Version is required.
- Printing Facility Provides on Inkjet, Ledger Printer and other printers.
- Required Standard A4 Size Paper Sheets.
Data Entry:
- Only "White" Cells are provide for input data.
- Press Mouse Buttons for applications which you want to operate.
Key Features:
- It maintain Each Employee Data.
- It Calculate Gross Income as per current D.A. Rates automatically as per Government D.A. Rates.
- It Provides Facility to Enter Data Manually along with all Arrears etc.
- It Calculate Tax Liability.
- It Display Month-wise Salary Statement for Asstt. Year 2013-14.
- It Generate TDS Certificate (Form 16) Automatically with Annexure "B".
Income Tax Slab for Asstt. Year 2014-15.
I. In case of individual (other than II and III below) and HUF
*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh
II. In case of individual being a woman resident in India and below the age of 60 years at any time during the previous year:
*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh
III. In case of an individual resident who is of the age of 60 years or more at any time during the previous year:
*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh
IV. In case of an individual resident who is of the age of 80 years or more at any time during the previous year:
*** Tax credit of Rs.2000 for annual income of Rs. 5 lakh
- Education Cess: 3% of the Income-tax.
- New Rs 50,000 tax exemption for retail equity investments
- Sale of residential property exempt from Capital Gains tax if invested in equity or equipment of an SME.
- Implementation of Direct Tax Code (DTC) deferred. GST to be operational by August 2012.
- Surcharge of 10% on income more than Rs. 1 crore
- Tax credit of Rs.2000 for annual income of Rs. 5 lakh
- Home Loan Income tax Exemption limit increased from Rs.1.5 lakhs to Rs.2.5 lakhs for loan up to Rs.25 lakhs
- Rajiv Gandhi Equity Savings Scheme extended to mutual funds.
- Rajiv Gandhi Equity Savings Scheme to be liberlised.
- Rajiv Gandhi Equity Savings Scheme limit increased.
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