Income Tax Calculator Fy 2. Xls Download. All Section 8. Deductions. All these deductions are valid from AY 2. Section 8. 0CThis section has been introduced by the Finance Act 2. Broadly speaking, this section provides deduction from total income in respect of various investments / expenditures / payments. Remember: The limit for maximum deduction available under Sections 8. C, 8. 0CCC and 8. Calculate Income Tax Liability Educational Cess. Income Tax Calculator AY 2014-15. Challan 280 in Excel; TDS Form 16 in Excel. Download Excel based Income Tax calculator for FY 2015-16. 2012-13 and Refund of Rs.20000/-(Approx.) For Salary and interest you have to calculate. CCD (combined together) is Rs. Assessment Year 2. FY 2. 01. 0- 1. 1) for investment in Infrastructure Bonds. Life Insurance Premium for individuals. The policy must be in the assesse's or spouse's or any child's name. For a HUF, it may be on life of any member of HUF. The 8. 0C deduction is valid on insurance policies purchased after 1st April, 2. Benefits for existing purchased policies continue. Sum paid under contract for deferred annuity for an individual on the life of the assesse, spouse or any child. Download income tax excel utility f.y. 2013-14 generate xml file directly from excel.Sum deducted from salary payable to Govt. Servant for securing deferred annuity for self- spouse or child Payment limited to 2. Contribution made under Employee's Provident Fund Scheme. Contribution to PPF for individual can be in the name of the assesse, the spouse or any child. For a HUF, it can be in the name of any member of the family. Contribution by employee to a Recognised Provident Fund. Sum deposited in 1. Post Office Saving Bank. Subscription to any notified securities/notified deposits scheme. Subscription to any notified savings certificate, Unit Linked Savings certificates. Contribution to Unit Linked Insurance Plan of LIC Mutual Fund e. Contribution to notified deposit scheme/Pension fund set up by the National Housing Scheme. Payments of instalments or part payments of loan taken for buying or constructing residential house property. However, if the property is transferred before the expiry of 5 years from the end of the financial year in which possession of such property is obtained by him, the aggregate amount of deduction of income so allowed for various years shall be liable to tax in that year. Contribution to notified annuity Plan of LIC (e. Jeevan Dhara) or Units of UTI / notified Mutual Funds. Note if in case of such contributions the deduction under Section 8. CCC has already been availed, the rebate under Section 8. Subscription to units of a Mutual Fund notified u/s 1. D). 1. 5. Subscription to deposit scheme of a public sector, company engaged in providing housing finance. Subscription to equity shares/ debentures forming part of any approved eligible issue of capital made by a public company or public financial institutions. Tuition fees paid to any school, college, university or other educational institution situated within India for the purpose of full time education of any two children. Section 8. 0CCC: Deduction in respect of Premium Paid for Annuity Plan of LIC or Other Insurer. Payment of premium for annuity plan of LIC or any other insurer Deduction is available upto a maximum of Rs. The premium must be deposited to keep in force a contract for an annuity plan of the LIC or any other insurer for receiving pension from the fund. Section 8. 0CCD: Deduction in respect of Contribution to Pension Account. Deductions to the extent of 1. Central government servant in one's pension account. If the Central Government makes any contribution to the pension account, deduction of such contribution to the extent of 1. Further, in any year where any amount is received from the pension account such amount shall be charged to tax as income of that previous year. Section 8. 0GG: Deduction in respect of House Rent Paid. Deduction available is the least of. Rent paid minus 1. Assessee or his spouse or minor child should not own residential accommodation at the place of employment. He should not be in receipt of house rent allowance. He should not have self occupied residential premises in any other place. Section 8. 0E: Deduction in respect of Interest on Loan for Higher Studies. Deduction in respect of interest on loan taken for pursuing higher education. The deduction is also available for the purpose of higher education of a relative w. Section 8. 0 TTA: Deduction from gross total income in respect of any Income by way of Interest on Savings account. Deduction from gross total income of an individual or HUF, upto a maximum of Rs. April 2. 01. 2 (Assessment Year 2. Section 8. 0CCG: Rajiv Gandhi Equity Saving Scheme (RGESS)The Rajiv Gandhi Equity Saving Scheme (RGESS) was launched after the 2. Budget. Investors whose annual income is less than Rs. Income Tax Calculator Fy. 7 Replies 1 File Income tax calculator fy 2013 14 Friends the attached excel based income tax calculator of fy 2013 14 helpful to the. Income Tax - Income tax Calculator for Financial Year. Income Tax - Income tax Calculator in excel format calculates tax. Income Tax Calculator F.Y. Calculate income tax with our free income tax calculator. Home > Tax Calculator. RSS; News Alerts; Apple; Android; Facebook; Twitter; Google. Tax Calculator is prepared exclusively for Government of India employees. With this Tax Calculator you can do the following tasks 1. Income tax calculation and its. These income-tax calculators also take into. Income tax rules are changed every year in India with respect the tax slabs. F Y 2012-13 F Y 2011-12 F Y 2010-11 F. Rs. 5. 0,0. 00) and get a deduction of 5. So, if you invest Rs. Rs. 5. 0,0. 00), you can claim a tax deduction of Rs. Section 8. 0D: Deduction in respect of Medical Insurance. Deduction is available up to Rs. Rs. 1. 5,0. 00/ in other cases for insurance of self, spouse and dependent children. Additionally, a deduction for insurance of parents (father or mother or both) is available to the extent of Rs. Citizen and Rs. 1. Therefore, the maximum deduction available under this section is to the extent of Rs. From AY 2. 01. 3- 1. Rs. 5,0. 00 for preventive health check- up is available. Section 8. 0DD: Deduction in respect of Rehabilitation of Handicapped Dependent Relative. Deduction of Rs. 5. Payment or deposit to specified scheme for maintenance of dependent handicapped relative. Further, if the dependant is a person with severe disability, a deduction of Rs. The handicapped dependent should be a dependent relative suffering from a permanent disability (including blindness) or mentally retarded, as certified by a specified physician or psychiatrist. Note: A person with 'severe disability' means a person with 8. Persons with disabilities (Equal opportunities, protection of rights and full participation)' Act. Section 8. 0DDB: Deduction in respect of Medical Expenditure on Self or Dependent Relative. A deduction to the extent of Rs. The diseases have been specified in Rule 1. DD. A certificate in form 1. I is to be furnished by the assessee from any Registered Doctor. Section 8. 0G: Deduction for donations towards Social Causes. The various donations specified in Sec. G are eligible for deduction upto either 1. Sec. 8. 0G deduction not applicable in case donation is done in form of cash for amount over Rs 1. Donations with 1. Further, if the individual is a person with severe disability, deduction of Rs. U. Certificate should be obtained from a Govt. The relevant rule is Rule 1. D. Section 8. 0RRB: Deduction in respect of any Income by way of Royalty of a Patent. Deduction in respect of any income by way of royalty is respect of a patent registered on or after 0. Patents Act 1. 97. Rs. 3 lacs or the income received, whichever is less. The assessee must be an individual resident of India who is a patentee. The assessee must furnish a certificate in the prescribed form duly signed by the prescribed authority. Section 8. 0CCF: Investment in Long Term Infrastructure Bonds. This section is no longer valid from AY 2. Investments in Long Term Infrastructure Bonds issued by Industrial Finance Corporation of India, LIC, Infrastructure Development Finance Company Limited or a Non- Banking Finance Company classified as an Infrastructure Finance Company by RBI with a minimum tenure of 1. Lock in period of 5 years. Maximum amount of deduction available is Rs. The deduction is over and above the combined deduction of Rs. C, 8. 0CCC and 8. DDD. The benefits under this section were extended by one year in the Budget 2. Budget. Therefore, the deduction under this section shall not be available for AY 2. March 2. 01. 3 From India, Chennai.
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