Friends As you know that deduction u/s 87A of Income Tax Act has been enhanced from Rs. 2000/- to Rs. 5000/-. in new budget and the same has been updated in Excel Income Tax Calculator. This deduction will be applicable w.e.f. 01.04.2016 or from the Financial Year 2016-17. The said calculator is available at www.tdstaxindia.com under Free Download Link. Benefit of this calculator is given below :-
1. Multiple Employees Tax calculation can be done and stored their data in Calculator.
2. By default this Excel Sheet has been prepared for 500 employees and the rows can be increased
on user demand.
3. Monthly Tax Planning Can be done through this utility.
4. PAN Structure Validation is also available in it. However it does not check PAN as per Income
5. No need to calculate Income Tax manually through calculator. It calculates auto Income Tax.