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Automated Master of Form 16 Part A&B and Part B for F.Y.2015-16

As the winter is setting in, 2015 seems to be getting over too soon! Another couple of months will beget the close of this financial year. Which also means its time to get ready with tax saving documents and investment proof declarations which have to be submitted to your employer. Your employer can then adjust your TDS deductions accordingly.
Today we bring you a quick recap of all the tax changes which were announced in the Budget of 2015 and are applicable effective financial year 2015-16. These changes are new tax savings means which you can start to take advantage of this year. Hope you stand to gain from a couple of these!

Download Master of Form 16 Part B which can prepare at a time 50 employees Form 16 Part B for the Financial Year 2015-16 with all below amended Section

Download Master of Form 16 Part A&B which can prepare at a time 50 employees Form 16 Part A&B for the Financial Year 2015-16

Income Tax Changes compared to last financial year
Deductions Last FY
Deductions in the current FY
Additional deduction of Rs 50,000
Health Insurance under section 80D
Health Insurance (for self, spouse and children)
Rs 15,000
Rs 25,000
Health insurance (for senior citizen parent)
Rs 20,000
Rs 30,000
Health care expenses for parent above 80 years who don’t have insurance
Rs 30,000 or actual expenses whichever is lower
Note : maximum deduction for parents not to exceed Rs 30,000
Deduction for medical treatment of disabled dependant of tax payer 
disabled dependent of tax payer (with 40% disability)
Rs 50,000
Rs 75,000
with 80% or more disability
Rs 1,00,000
Rs 1,25,000
Deduction for disabled tax payer 
with 40% disability
Rs 50,000
Rs 75,000
with 80% or more disability
Rs 1,00,000
Rs 1,25,000
Medical treatment for parents above 80 years for specified diseases
Rs 60,000
Rs 80,000
Transport allowance
Rs 9,600
Rs 19,200
Sukanya Samriddhi Yojana
Rs 1,50,000

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