IT/ Income Tax Software 2023 for TS / AP Teachers IT Calculator.
Income Tax(IT/I.T) Software For FY 2022-2023 for Andhra Pradesh(AP), Telangana(TS) Teachers
Andhra Pradesh(AP) Teachers Income Tax Software 2022-2023 Telangana(TS) Teachers Income Tax Software 2023 for All Teachers Income tax Slab ratesEmployees Income Tax Calculation Financial year 202-23 Income Tax Assessment year 2023-20224, 80C Saving limit FY 2022-2023 AY 2023-24 AP Retirement Employees Income Tax Calculation Housing Loan Principal Amount Exemption and Housing Loan Interest Deduction and with CPS Employees Additional Benefit 80 CCD (1B). Income Tax Software 2023 Prepared by Vijaya Kumar Sir,Teachers Income tax calculation Updated Software 2022-2023
The Tax Slab rate and exemption limit remain unchanged for individuals from the Financial year 2022-23 and Assessment Year 2023-24.
As per new Budget a new tax regime giving taxpayers an option to pay taxes as per the new tax slabs.
Any individual opting to be taxed under the new tax regime, will have to give up certain exemptions and deductions. So, the employee or pensioner must know which of these two benefits would be available through Income Tax Calculation Software and choose the better one.
As per new Budget Guidelines Slab rates నూతనంగా తీసుకువచ్చిన 6 అంచెల స్లాబ్ లో టాక్స్ చెల్లిస్తే 1,50,000ల 80C వదులుకోవాల్సి వస్తుంది. పాత మూడు స్లాబ్ ల విధానం లో అయితే 1,50,000ల సేవింగ్ చేసుకునే అవకాశం ఉంటుంది.అయితే ఉద్యోగి లేదా పెన్షనర్ ఈ రెండింటిలో ఏది లాభదాయకమో ఇన్కమ్ టాక్స్ గణన సాఫ్ట్వేర్స్ ద్వారా తెలుసుకొని ఎంచుకోవాల్సి ఉంటుంది.
Tax Rate for Individuals
Up to Rs. 2,50,000 - Nil
From Rs. 2,50,001 to Rs. 5,00,000 - 5%
From Rs. 5,00,001 to Rs. 7,50,000 - 10%
From Rs. 7,50,001 to Rs. 10,00,000 - 15%
From Rs. 10,00,001 to Rs. 12,50,000 - 20%
From Rs. 12,50,001 to Rs. 15,00,000- 25%
Above Rs. 15,00,000 - 30%
It’s important to note that these new tax rates are only applicable to those individuals who do not wish to avail specified exemptions or deductions. It means that these lower tax rates will be applied to their total income directly without allowing any benefit of deductions and exemptions. The deductions and exemptions that will not be allowed under this regime include:
1.) Standard deduction from salary and profession tax
2.) House Rent Allowance
3.) Housing Loan Interest
4.) Leave Travel Allowance
5.) Deductions under Chapter VIA of the Income tax Act, 1961 such section 80C (life insurance premium), section 80CCC (pension premium), 80D (health insurance premium), 80TTA (bank interest), etc.
However, individuals who would like to continue to claim applicable exclusions and deductions may do so, but they will have to follow the existing tax rates, which are as follows:
Income SlabTax Rate
Income up to Rs 2,50,000No Tax
Income from Rs 2,50,000 – Rs 5,00,0005%
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Surcharge:
10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore
15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess:
2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge
Rebate under Section 87A:
Rs 2,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 3.5 Lakhs
Income tax slab for senior citizens (60 years to less than 80 years old) (both men & women):
Income Slab Tax Rate
Income up to Rs 3,00,000No Tax
Income from Rs 3,00,000 – Rs 5,00,000 5%
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Surcharge:
10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore
15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess:
2% cess on income tax including surcharge
Secondary and Higher Education Cess: 1% cess on income tax including surcharge
Rebate under Section 87A: Rs 2,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 3.5 Lakhs
Income tax slab for Very senior citizens (80 years or more) (both men & women):
Income Slab Tax Rate
Income up to Rs 2,50,000 No Tax
Income from Rs 2,50,000 – Rs 5,00,000No Tax
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Surcharge:
10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but below Rs 1 crore
15% surcharge on income tax if the total income exceeds Rs 1 crore
Education Cess:
➤2% cess on income tax including surcharge
➤Secondary and Higher Education Cess: 1% cess on income tax including surcharge
- Rebate under section-87A : As per the amendments to Section 87A, if your annual taxable income is INR 5,00,000 or lower, you can avail the tax rebate. The existing laws made way for a 2,500 income tax rebate. However, the updated law ensured that the limit was increased to a 12,500 income tax rebate
- Standard Deduction for salaried tax payers increased from Rs. 40,000 to Rs. 50,000.
- Rent exempted from TDS increased to Rs. 2.4 lakh from Rs. 1.8 lakh.
- TDS exemption on interest on post office and bank deposits raised from Rs. 10,000 to Rs. 40,000.
- Gratuity limit increased from Rs. 10 Lakh to Rs. 30 lakh.
- Exemption on Capital Gains Tax under Section 54 of up to Rs. 2 crore on residential property can now be claimed for investment of proceeds in 2 residential properties once in a lifetime.
- IT returns and refunds to be processed within 24 hours.
- IT scrutiny to be made simpler with digital-unmanned system where the identity of the IT officer and tax payer remains anonymous.
1.KSS Prasad Income Tax Software for FY 2022-2023, AY 2023-24 for AP,TS available now
KSS PRASAD Income Tax Software 2023 (for AP, TS employees updated on 24-02-2023 )
2. Putta's income tax software 2023
PUTTA IT Software Full Version 1.3c is available with new DA Automatic calculation
TS Income Tax software for FY 2022-23 , 2023-24 AY Download (Full Version Full Version 1.3C updated on 24-02-2023 Excel file download Link1 )
AP Income Tax calculation software for FY 2022-23 , 2023-24 AY Download (Full Version Full Version 1.0 updated on 24-02-2023 )
Pensioners Incometax software FY 2022-23 (Full Version Full Version 1.0 updated on 24-02-2023 )
Contract JLs Income Tax software FY 2022-23 (Full Version Full Version 1.0 updated on 24-02-2023 )
3. Medakbadi IncomeTax Software 2023 by Kota Vijay Kumar Available now
Medakbadi IncomeTax Software 2023 by Kota Vijay Kumar Available now
TS INCOME TAX SOFTWARE FY 2022-23 BY VIJAYAKUMAR KOTA (DA-20.020% -Option from Jan/Feb) 24.02.2023
AP INCOME TAX SOFTWARE FY 2022-23 (AY 2023-24) FROM MEDAKBADI (BY VIJAYAKUMAR KOTA) 24.02.2023
PENSIONERS INCOME TAX SOFTWARE FY 2022-23 (A.Y 2023-24) 24.02.2023
BS Chary Income Tax Software for 2022-23 for AP,TS available now
BS Chary Income Tax Software for 2022-23 for AP,TS available now
TS Income Tax Software 2023 for FY 2022-23 Download ( Excel file Link1 Updated on 24-02-2023)
TS Income Tax Software 2023 for FY 2022-23 Download( Excel file Link2 Updated on 24-02-2023 )
AP Income Tax Software 2023 FY 2022-23 Download Excel file Updated on 20-02-2023)
Pensioners' Income Tax Software FY 2022-23(Updated on 24-02-2023 New)
IIncome Tax Software 2022-23 for AP employees Final Version by C Ramanjaneyulu
AP Income Tax Software 2022-23 (C Ramanjaneyulu Updated on 24-02-2023) (AP Excel Software) Telangana Teachers & Employees Excel Software Final Version
TS Income Tax Software 2023 Download ( C Ramanjaneyulu Updated on 24-02-2023 TS Excel Software)
Seshadri Income Tax Software 2022-23 for AP and TS Govt Employees
Download Seshadri IT Software Excel software New version Updated on 24/02/2023
Download Seshadri IT Software Excel FY:2022-23 Updated:24/02/2023 Link2
HRA & Home Loan Interest Exemption Declaration Form 2
HRA & Home Loan Interest Exemption Declaration Form 3
Download Income Tax DDO Declaration
S.NO. | INCOME TAX SOFTWARE Developed by | DOWNLOAD |
1 | IT Software 202 for AP & Telangana for AY 2022-23 | Click Here |
2 | KSS Prasad Income Tax Software FY 2022-23 | Click Here |
3 | Putta Srinivas Reddy Income Tax Software FY 2022-23 | Click Here |
4 | Vijay Kumar Income Tax Software FY 2022-23 | Click Here |
5 | C.Ramanjaneyulu Income Tax Software FY 2022-23 | Click Here |
6 | B.Srinivasa Chary Income Tax Software FY 2022-23 | Click Here |
7 | Seshadri Income Tax Software FY 2022-23 | Click Here |
8 | TS Employees, Teachers Pay details, Month wise Salary Statement | Click Here |
9 | Ramzan Ali Income Tax Software FY 2022-22 | Click Here |
10 | Mobile Version Income Tax Software FY 2022-22 | Click Here |
11 | Model School Teachers (APMS IT) Software FY 2022-23 | Click Here |
12 | DSC Wise Teachers IT Calculation Tables | Click Here |
13 | IT Softwares AP TS Teachers, Employees with PRC Arrears | Click Here |
14 | AP Employee Online Salary Details, Online Employee Pay Details | Click Here |
15 | ||
16 | Telangana Employees Salary certificate | Click Here |
17 | How to Download SBI Home Loan Statement Interest and Principal | Click Here |
18 | How to Get LIC Premium Statements for Income Tax Purpose | Click Here |
19 | How to Pay PLI ( Postal Life Insurance ) Premium Online | Click Here |
20 | Tax Rebate u/s 87A Income Tax Exemption Guide | Click Here |
21 | Income Tax Slab Rates and Deductions Analysis | Click Here |
22 | How to do Income Tax E-Filing Online Step by Step Process | Click Here |
23 | Income Tax e-Filing Processed (Confirmed) OR Not? Check Here | Click Here |
- Provident Fund (PF) & Voluntary Provident Fund (VPF)
- Postal Life Insurance ( PLI )
- APGLI / TGLI
- Life Insurance Premiums
- Unit linked Insurance Plan
- Public Provident Fund (PPF)
- National Savings Certificate (NSC)
- Home Loan Principal Repayment & Stamp Duty and Registration
- Tuition fees for Two children
- Equity Linked Savings Scheme (ELSS)
- 5-Yr bank fixed deposits (FDs)
- Pension Funds or Pension Policies – Section 80CCC
- Infrastructure Bonds
- NABARD rural bonds
- Senior Citizen Savings Scheme 2004 (SCSS )
Income Tax Deductions Section wise Details below :
Income Tax Deductions Section wise Details below :
Section | Deduction on | |
80CC | For amount deposited in annuity plan of LIC or any other insurer for pension from a fund referred to in Section 10(23AAB). | – |
80CCD(1) | Employee’s contribution to NPS account (maximum up to Rs 1,50,000) | – |
80CCD(2) | Employer’s contribution to NPS account | Maximum up to 10% of salary |
80CCD(1B) | Additional contribution to NPS | Rs. 50,000 |
80TTA(1) | Interest Income from Savings account | Maximum up to 10,000 |
80GG | For rent paid when HRA is not received from employer | Least of rent paid minus 10% of total income Rs. 5000/- per month 25% of total income |
80E | Interest on education loan | Interest paid for a period of 8 years |
80EE | Interest on home loan for first time home owners | Rs 50,000 |
80CCG | Rajiv Gandhi Equity Scheme for investments in Equities | Lower of – 50% of amount invested in equity shares or Rs 25,000 |
80D | Medical Insurance – Self, spouse, children Medical Insurance – Parents more than 60 years old or (from FY 2015-16) uninsured parents more than 80 years old | Rs. 25,000 Rs. 30,000 |
80DD | Medical treatment for handicapped dependant or payment to specified scheme for maintenance of handicapped dependant Disability is 40% or more but less than 80% Disability is 80% or more | Rs. 75,000 Rs. 1,25,000 |
80DDB | Medical Expenditure on Self or Dependent Relative for diseases specified in Rule 11DD For less than 60 years old For more than 60 years old For more than 80 years old | Lower of Rs 40,000 or the amount actually paid Lower of Rs 60,000 or the amount actually paid Lower of Rs 80,000 or the amount actually paid |
80U | Self suffering from disability: Individual suffering from a physical disability (including blindness) or mental retardation. Individual suffering from severe disability | Rs. 75,000 Rs. 1,25,000 |
80GGB | Contribution by companies to political parties | Amount contributed (not allowed in cash) |
80GGC | Contribution by individuals to political parties | Amount contributed (not allowed in cash) |
80RRB | Deductions on Income by way of Royalty of a Patent | Lower of Rs 3,00,000 or income received |