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TDS Calculation Software (Salaried Employee) & Tax Slab for Asstt. Year 2015-16.

5:01 AM  Dharmen  

As per Budget placed by FM of Previous Indian Goverment Mr. P.Chidambaram with no major changes in Tax Rates for Asstt. Year 2015-16.  On this basis All Salaried Employee can deduct Income Tax for Fin. Year 2014-15 as TDS. But there is dispute that How much TDS Deduct monthly from the Salary.  Therefore, we developed TDS TAX Calculation Software for Salaried Employee for Asstt. Year 2015-16.

Current Tax Rate as per Previous Government Budget is as follows for Assessment Year 2015-16:

I(A) - In case of every individual other than the individual referred to in I(B),I(C) and I(D) or in the case of HUF (Resident as well as Non-resident):

Total Income
Rates of Income Tax
Where the total income does not exceed Rs. 2,00,000
NIL
Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000 exceed Rs. 2,00,000
10% of the amount by which the total income
Where the total income exceeds Rs.5,00,000 but does not exceed Rs. 10,00,000
Rs. 30,000 plus 20% of the amount by which the total income exceeds Rs. 5,00,000
Where the total income exceeds Rs. 10, 00,000
Rs. 130,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000

I(B) - In case of every individual, being a woman resident in India and below the age of 60 years at any time during the previous year:

Total Income
Rates of Income Tax
Where the total income does not exceed Rs. 2,00,000
NIL
Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000 exceed Rs. 2,00,000
10% of the amount by which the total income
Where the total income exceeds Rs.5,00,000 but does not exceed Rs. 10,00,000
Rs. 30,000 plus 20% of the amount by which the total income exceeds Rs. 5,00,000
Where the total income exceeds Rs. 10, 00,000
Rs. 130,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000

I(C) - In case of every individual, being a resident in India who is the age of 60 years or more but less than 80 years at any time during the previous year :

Total Income
Rates of Income Tax
Where the total income does not exceed Rs. 2,50,000
NIL
Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000 exceed Rs. 2,50,000
10% of the amount by which the total income
Where the total income exceeds Rs.5,00,000 but does not exceed Rs. 10,00,000
Rs. 25,000 plus 20% of the amount by which the total income exceeds Rs. 5,00,000
Where the total income exceeds Rs. 10, 00,000
Rs. 125,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000

I(D) - In case of every individual, being a resident in India who is the age of 80 years or more at any time during the previous year :

Total Income
Rates of Income Tax
Where the total income does not exceed Rs. 5,00,000
NIL
Where the total income exceeds Rs.5,00,000 but does not exceed Rs. 10,00,000
20% of the amount by which the total income exceeds Rs. 5,00,000
Where the total income exceeds Rs. 10, 00,000
Rs. 100,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000

POINTS TO BE NOTED: 
  • Education Cess is 3% in case of an Individual or HUF. 
  • There is no surcharge in case of an Individual or HUF, having income upto Rs. 1 crore but after this surcharge will be 10% of the tax payable.
Note: There shall be a credit of ` 2000 or tax payable whichever is less for individual tax payer for having income upto Rs. 5 Lacs. 

II. In case of Association of Person (AOP)/Body of Individual (BOI)/Artificial Juridical Person :

Total Income
Rates of Income Tax
Where the total income does not exceed Rs. 2,00,000
NIL
Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000 exceed Rs. 2,00,000
10% of the amount by which the total income
Where the total income exceeds Rs.5,00,000 but does not exceed Rs. 10,00,000
Rs. 30,000 plus 20% of the amount by which the total income exceeds Rs. 5,00,000
Where the total income exceeds Rs. 10, 00,000
Rs. 130,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000

POINTS TO BE NOTED: 
  • Education Cess is 3% in case of an AOP or BOI. 
  • There is no surcharge in case of an AOP or BOI, having income upto ` 1 crore but after this surcharge will be 10% of the tax payable. 
III. In case of a Co-Operative Society:

Total Income
Rates of Income Tax
Where the total income does not exceed Rs. 10,000
10% of the total Income
Where the total income exceeds Rs.10,000 but does not exceed Rs. 20,000
Rs. 1000 plus 20% of the amount by which the total income exceeds Rs. 10,000
Where the total income exceeds Rs. 20,000
Rs. 3,000 plus 30% of the amount by which the total income exceeds Rs. 20,000

POINTS TO BE NOTED: 
  • Education Cess is 3% in case of a Co-Operative Society. 
  • There is no surcharge in case of a Co-Operative Society, having income upto ` 1 crore but after this surcharge will be 10% of the tax payable. 
IV. In case of Local Authority 
  • Income-tax: 30% of total income. 
  • Surcharge: 10% of the tax payable if the income exceeds Rs. 1 crore. 
  • Education Cess: 3% of Income-tax. 
V. In case of a Firm (Including LLP’s) 
  • Income-tax: 30% of total income. 
  • Surcharge: 10% of the tax payable if the income exceeds Rs. 1 crore. 
  • Education Cess: 3% of Income-tax. 
VI. In case of a Domestic Company 
  • Income-tax: 30% of total income. 
  • Surcharge: The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the total income exceeds Rs. 1 crore. This rate of surcharge will be increased to 10% of the tax payable if the income exceeds Rs. 10 crores. 
  • Education Cess: 3% of the total of Income-tax and Surcharge. 
VI. In case of a Foreign Company 
  • Income-tax: 40% of total income. 
  • Surcharge: The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 2% of such income tax, provided that the total income exceeds Rs. 1 crore. This rate of surcharge will be increased to 5% of the tax payable if the income exceeds Rs. 10 crores. 
  • Education Cess: 3% of the total of Income-tax and Surcharge. 
Marginal Relief: 
In case of a domestic company and foreign company, where the total income exceeds Rs. 1 crore, then the aggregate of income tax and surcharge shall be restricted to: 
(Tax on Rs. 1 crore) + (Total Income - Rs. 1 crore)


TDS CALCULATION SOFTWARE FOR ALL SALARIED EMPLOYEE

Steps for  Installation
  • Download the Form-16 or Challan Utility
  • Extract the Taxprochallan.zip file into a physical path.
  • Double click on the Taxprochallan.exe from the extracted path.
Minimum Systems Requirements:
  • Pentium or better.
  • 15MB disk space.
  • 32MB RAM.
  • Windows 95, 9X, ME, XP, NT, 2K.
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 CALCULATOR - FREE DOWNLOAD

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