Income Tax/ IT Calculation Software For FY 2023-2024 for AP, Telangana Employees, Teachers, Pensioners.
IT Income tax software 2024, Income tax Programme 2023-2024, IT Programme 2024. MS-Excel Programme Income Tax 2023-2024 Income Tax (IT/I.T) Software For 2023-2024 Financial Year(FY): 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 in FY 2023-24 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. Income Tax(IT/I.T) Calculation Software For FY 2023-2024 for Andhra Pradesh(AP), Telangana(TS) Teachers. New Slab Rates, Excel Sheet Softwares. It is helpful to calculate advance tax by giving assuming DA in data sheet and useful for both states TS &AP more details. Income Tax Software 2023-2024 for Teachers/ Employees in AP & Telangana States, Employees IT Calculator, New Slab rates, Latest Housing loan, 80C saving sections details Latest Income Tax Software FY 2023-2024 for AP State Govt Employees ,Teachers , All Departments i.e Teaching, Non Teaching ,Vacation Posts, Non Vacation Posts is Exclusively Prepared by KSS Prasad Teachers Income Tax Software 2023-2024 for AP. Income Tax Calculation Software 2023-2024 For AP,TS Teachers. Income Tax Calculation Software 2024 (FY 2023-2024) Assessment Year (AY- 2024-2025).
IT/ Income Tax Software 2024 for TS / AP Teachers IT Calculator.
Andhra Pradesh(AP) Teachers Income Tax Software 2023-2024 Telangana(TS) Teachers Income Tax Software 2024 for All Teachers Income tax Slab rates Employees Income Tax Calculation Financial year 2023-24 Income Tax Assessment year 2024-2025, 80C Saving limit FY 2023-2024 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 2024 Prepared by Vijaya Kumar Sir,Teachers Income tax calculation Updated Software 2023-2024
The Tax Slab rate and exemption limit remain unchanged for individuals from the Financial year 2023-24 and Assessment Year 2024-25. 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 New బడ్జెట్ లో నూతనంగా తీసుకువచ్చిన 5 అంచెల స్లాబ్ లో టాక్స్ చెల్లిస్తే 1,50,000ల 80C వదులుకోవాల్సి వస్తుంది.
- కొత్త పన్ను విధానంలో రూ. 7 లక్షల ఆదాయంపై పన్ను రాయితీ ప్రవేశపెట్టబడింది (FY 2023-24కి వర్తిస్తుంది).
- పాత మూడు స్లాబ్ ల విధానం లో అయితే 1,50,000ల సేవింగ్ చేసుకునే అవకాశం ఉంటుంది. ఉద్యోగి లేదా పెన్షనర్ ఈ రెండింటిలో ఏది లాభదాయకమో ఇన్కమ్ టాక్స్ గణన సాఫ్ట్వేర్స్ ద్వారా తెలుసుకొని ఎంచుకోవాల్సి ఉంటుంది.
Income Tax (IT) Excel Softwares 2024 : IT Income Tax Softwares 2024 for AP & Telangana Latest IT Claculation Software Program
Income Tax Slab rares 2023-2024(New Regime):
Tax Rate for Individuals and HUF’s
The income tax slab rates under the new income tax regime will now be as follows:
Rs 0 to Rs 3 lakh – 0% tax rate
Rs 3 lakh to 6 lakh – 5%
Rs 6 lakh to 9 lakh – 10%
Rs 9 lakh to Rs 12 lakh – 15%
Rs 12 lakh to Rs 15 lakh – 20%
Above Rs 15 lakh – 30%
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.
For Individual Male/Female with age <60 Yrs
Taxable Income Up to Rs. 2,50,000 – Nil
Rs. 2,50,000 to 5,00,000 – 5%
Rs. 5,00,000 to 10,00,000 – 20%
Rs. 10,00,000 & above – 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 croreEducation 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. Rebate under section 87A of Income Tax Act helps taxpayers to reduce their tax liability. Resident individuals having a net taxable income less than or equal to INR 5,00,000 will be able to claim a tax rebate of a maximum of INR 12,500 or the amount of tax payable, whichever is lower under both tax regimes.
- In Budget 2023, the tax rebate for individuals has been increased to INR 25,000 which means individuals having taxable income up to INR 7,00,000 can claim rebate under 87A under new tax regime which shall be applicable from FY 2023-24 (AY 2024-25) onwards.
- Standard Deduction for salaried tax payers is Rs. 50,000.
- Section 16(ia) of the Income Tax Act, 1961 (hereinafter referred to as ‘the IT Act’) provides that every salaried taxpayer could claim a flat deduction of upto Rs. 50,000. Further, even taxpayers deriving pension income would be eligible to claim such standard deduction.
- 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 IT 2024 SOFTWARE for AP,TS Employees (Updated AP,TS NEW )
2. Putta IT Software 2024 / IT Software(AP, TS New)
| S.NO. | INCOME TAX SOFTWARE Developed by | DOWNLOAD |
| 1 | IT Software 202 for AP & Telangana for AY 2023-24 |
Click Here |
| 2 | KSS Prasad Income Tax Software FY 2023-24 | Click Here |
| 3 | Putta Srinivas Reddy Income Tax Software FY 2023-24 | Click Here |
| 4 | Vijay Kumar Income Tax Software FY 2023-24 | Click Here |
| 5 | C.Ramanjaneyulu Income Tax Software FY 2023-24 | Click Here |
| 6 | B.Srinivasa Chary Income Tax Software FY 2023-24 | Click Here |
| 7 | Seshadri Income Tax Software FY 2023-24 | Click Here |
| 8 | TS Employees, Teachers Pay details, Month wise Salary Statement | Click Here |
| 9 | Ramzan Ali Income Tax Software FY 2023-22 | Click Here |
| 10 | Mobile Version Income Tax Software FY 2023-22 | Click Here |
| 11 | Model School Teachers (APMS IT) Software FY 2023-24 | 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 |
80C & 80CCE- Maximum Exemption up to Rs.150000
Investments up to Rs.1.5 lac in PF, VPF, PPF, Employee contribution in NPS,Insurance Premium, Housing loan principal repayment, NSC, ELSS, long term bank Fixed Deposit, Post Office Term Deposit, etc. are deductible from the taxable income. There is no limit on individual items, (for example) all 1 lac can be invested in NSC or PPF etc.
- 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 |
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