As per the Central Budget 2014-15, the Income Tax Slab has raised from 2 Lakh to 2.5 Lakh and the Section 80C also hike up to Rs. 1.5 Lakh. The Section 87A as Tax Rebate Rs.2000/- and Savings Bank Interest U/s 80TTA Max Rs. 10,000/- also continue in this financial year.
As per the latest Finance Budget the Tax Liability may reduce to the all salaried persons and get extra benefits from the Tax Section.
Below given Excel Based Software which can prepare at a time your Income Tax Calculation + Automatic House Rent Exemption Calculation + Arrears Relief Calculation with Form 10E + Automated Form 16 Part A&B and Form 16 Part B for all State employees for the Financial Year 2014-15.The Salary Structure build as per the All State Employees Salary Patter, and you can easily calculate your Gross Salary by this Salary Structure.
Snapshot of State employees Salary Structure