Free Download Automated Income Tax Preparation Excel Based Software for West Bengal Govt Employees for F.Y. 2019-20 With Claim Tax Benefit for Rent Paid u/s 80GG


Section 80GG is one of lesser known section which can
be utilized by citizens to reduce their taxation rate by asserting assessment
exclusion for lease paid (in the event that HRA isn’t a piece of pay). This
area can be utilized by be either salaried/retired person or independently
employed citizens.

Conditions for Claiming Tax advantage u/s 80GG for Rent Paid

You can guarantee charge finding on lease paid u/s
80GG at the hour of documenting government form just if following conditions
are fulfilled:

•           The
deduction is accessible just for people and HUFs

•           For
salaried individual to be qualified for tax cut u/s 80GG, he ought not get HRA
from his boss.

•           Pensioners
or Self utilized don’t have any HRA thus they can exploit 80GG

•           No
one in the family including companion, minor youngsters, self or HUF he is
individual from should possess a house in the city you are utilized or
conveying your business.

•           If
you possess a house in various city, you can’t show it as self-involved. You
need to consider it as regarded to let out – for example – you need to show
rental salary whether it’s really put on lease.

Furthermore, you have to fill Form no 10BA to
guarantee tax reduction u/s 80GG. This structure isn’t to be submitted anyplace
however kept with you for records to show to I-T office in the event of
examination.

Clause permitted u/s 80GG:

The House Rent derivation is least of the underneath
3 numbers:

1.         Rs.
5,000 every month [increased from Rs 2,000 to Rs 5,000 in Budget 2016]

2.         25% of
yearly salary

3.         (Rent
Paid – 10% of Annual Income)

Here Annual salary alludes to

•           Gross
Total Income

Less

•           Long
Term Capital Gain,

•           Short
Term Capital Gain of 10% class,

•           Deductions
under section 80C to 80U with the exception of segment 80GG and salary of
outside organization

The feature of this Excel
Utility is the following:-

1) This Excel Utility can prepare automatic Tax Calculation as
per new Finance Budget 2019

2) The Salary Structure as per the All of West Bengal Govt employee’s
Salary Pattern

3) Automated Individually Salary Sheet for each Employee

4) 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 Revised Form 16 Part A&B for F.Y.
2019-20 in New Format

7) Automated Income Tax Revised Form 16 Part B for the F.Y.
2019-20 in New Format
 

How to HRA Exemption Calculation u/s 80GG

Accept that Ranjit has yearly salary of Rs 5 Lakhs and
he pays lease of Rs 10,000 every month. Here is his tax cut for lease paid.

1.         Rs.
5,000 every month – Rs 60,000

2.         25%
of yearly salary – Rs 1,25,000

3.         (Rent
Paid – 10% of Annual Income) – Rs 70,000 (1,20,000 – 50,000)

The assessment finding would be least of over 3
numbers = Rs 60,000

80GG in Income Tax Return Form

Assessment exclusion under section 80GG is a piece of
Chapter VI An and must be filled as you accomplish for Section 80C in the ITR
Forms.

The feature of this Excel
Utility is the following:-

1) This Excel Utility can prepare automatic Tax Calculation as
per new Finance Budget 2019

2) The Salary Structure as per the of Govt & Non-Govt employee’s
Salary Pattern

3) Automated Individually Salary Sheet for each Employee

4) 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 Revised Form 16 Part A&B for F.Y.
2019-20 in New Format

7) Automated Income Tax Revised Form 16 Part B for the F.Y.
2019-20 in New Format

8) Automated Income Tax Arrears Relief Calculator U/s 89(1) with
Form 10E From the F.Y. 2000-01 to F.Y. 2019-20

Will
HRA and 80GG Tax advantage be asserted Together?

On the off chance that you were salaried accepting
HRA for some piece of the budgetary year yet paid lease for the whole year, you
can guarantee advantage under both HRA and Section 80GG. For the period you got
HRA, you should guarantee tax cut on that through your manager. For rest of
months you would get tax reduction u/s 80GG.