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At a glance Income Tax Deduction with Tax Section for the F.Y. 2018-19, With Automated All in One TDS on Salary for Assam State Govt. Employees for F.Y. 2019-20

What is
the Maximum Income Tax I can save for this Year (FY 2019-20)?
 
Tax laws keep
changing year on year especially in Budget 2019. In this post, we summarize all
the tax saving sections
Broadly speaking
If you are able to avail all these sections you can make more than Rs 11 Lakhs
income tax-free. But unfortunately, not all sections would be applicable to
you. 
The table below given the details of all the tax exemptions available:
S. No.
Tax Sections
Description
Maximum Tax Exemption Limit (Rs.)
1
80C/ 80CCC/ 80CCD
Investment in EPF, ELSS, PPF, FD, NPS, NSC,
Pension Plans, Life Insurance, SCSS, SSA, and NPS. Also includes Home Loan
Principal repayment, Tuition Fees, Stamp Duty.
150,000
2
80CCD(1B)
Investment in NPS
50,000
3
24
Interest paid on Home Loan for Self occupied
homes.
200,000
4
80E
Interest paid on Education Loan. No
Limit – Rs 50,000 is just an assumed value
50,000
5
80D
Premium payment for medical insurance for
self and parents. 
60,000
6
80DDB
Treatment of Serious illness for self and
dependents (Limit of Rs 50,000/- 1,00,000 for Senior Citizens and Rs 40,000 for
others)
80,000
7
80U
Physically Disabled Taxpayer (Rs 75,000 for
40% to 80% disability and Rs 1,25,000 for more than 80%)
125,000
8
80DD
Physically Disabled Dependent (Rs 75,000 for
40% to 80% disability and Rs 1,25,000 for more than 80%)
125,000
9
80G
Donation to approved charitable funds like
Prime Minister Relief Fund, etc (assumed value)
50,000
10
80GGA
 Donations for scientific research or
rural development (assumed value)
50,000
12 A
80TTA
Interest received in Savings Account
50,000
12 B
80TTB
Interest Income for Senior Citizens Only
50,000
13
80GG
For Rent Expenses who do have HRA component
in salary
60,000



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  Assam State
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 Form 16 Part A&B for F.Y. 2019-20
7) Automated Income Tax Form 16 Part B for the F.Y. 2019-20 

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