AP/TS Income Tax Calculator Software for FY 2017-18 Download

Income Tax Exemptions Section Wise Details and Tax Calculator for AP and Telangana Download
Calcuation of Income Tax of Employees and Teachers in Ap and Telangana | Software for Income tax Calcualtion for Salaried People | Suggestions to get exemptions from paying Tax | Detailed Information of Income Tax Sections Income-Tax-FY-2017-18-AY-2018-19-Section 24-80C-80CCC-80CCD-1B-80U-80D-80DDB-80E-80G-80EE-80TTA-80CCG | A Guidance on paying Income tax and Plan for getting escape from paying Tax using available Sections and Exemptions ap-ts-income-tax-software-calculator-by-putta-srinivas-reddy-download-exemption-sections-details-80ccd-savings

Income Tax Calculation for 2017-18 Financial Year

The slabs of Income tax changed from 10% to 5% in the Financial year 2017-18 and Remaining Sections almost same as previous Financial Year. As per Income Tax Act 1961 The Calculation of Income tax will be from 01.04.2017 to 31.03.2018 on earning from Salary and Aloowances and Exemptions on savings also consider for the same period of time

Particulars Showing Income Tax Slab Rates

Income Sources to be Considered
Pay, DA HRA IR CCA Allowances Medical Allowances Additional Increments EL Surrender PRC Arrears Step up Arrears Salary on Leave etc
Non Income Sources to be Considered
Amount getting from GPF/GIS/AP(TS)GLI Encashment LTC Half pay leave Encashment Medical Reimbursement Loans on GPF APGLI/TSGLI

Exemption on HRA

1. Under Section 10(13A) from the following three things whichever is less it will be considered as exemption
2. Earned HRA
3. paid HRA -10%BP+DA
4. 40% Salary
5. Those who are getting more than RS 3000/- per month they should submit recipt  to DDO and the House Rent per year exceed Rs 1,00,000/- then PAN Number of the house owner should be given . Those who are living in own house, HRA Exemption will not be applicapable

Income Tax Exemptions:
Section 24 - IT Exemptions on Home Loan Interest: Income tax Exemption on Home Loan taken from Banks and Self occupied Residence up to 2 Lakhs. If loan has been taken jointly on Wife and Husband then exemption will be divided equally and both may get up to 2 Lakhs each. If the owner give the house for rent then Total Interest will be exempted but Rent should be shown in income sources

u/s 24 and 80 EE There is an Exemption for interest on housing loan.(for Self occupied Residence). If the loan was taken before Apr 1, 1999 exemption is limited to ₹30,000/- per year. If the loan was taken after Apr 1, 1999 exemption is limited to ₹2,00,000/- per year if the house is self-occupied; There is no limit if the house is rented out

This exemption is available on accrual basis, which means if interest has accrued, you can claim exemption, irrespective of whether you've paid it or not.. 80EE In finance bill 2016 (an additional rebate of ₹.50.000/- was given to those assesse, who purchase self ocupied single house after 01/04/2016 with maximum value of ₹ 60 Lacs and sanctioned home loan up to 35 Lacs.)
 Higher Education Loan Interest (80E)
Interest paid on Education Loan for Self Spouse Children for Higher Education in 2017-18 i sexempted. This will be applicapable maximum for 8 years

Exemption for Disable Dependent (80DD): If Tax payee has disable person as dependent with less than 80% then Rs.75000/- 80% or above then Rs.1,25,000/- tax exempted. Certificates from competent authority should be produced
If Assessee is Disable Person ( 80U ): If Employee is disable person himself/herself then Rs 75,000/- for less than 80% disability and Rs 1,25,000/- for 80% and above disability. Certificates should be produced
Medical Expenditures ( 80DDB): Employee OR Dependent suffers from Cancer, Hemophilia ,Talassemia, Neorological Disease, and Chronic renal failure then he may get exemption on the expenditure up to Rs 40,000/- for below 60years , for above 60years Rs. 60,000 and above 80 years Rs.80,000/-. For this exemption assessee has to submit form 10-1 from specialist doctor

Medical Insurances (80D):
Employee can get Exemption up to Rs. 25,000/- paid for Medical Insurances for his/her family
Exemption for conveyonces and Profession Tax
Exemptions on Savings ( 80C ) Maximum 1.5L : GPF ZPGPF APGLI GIS LIC PLI National Savings Certificates Public Provident Fund Sukanya Samruddhi Yojana ELSS ULIPS etc Principal amount for Home Loan Registration Stamp Duty School Fees . Toatl Rs 1,50,000/-
Annuity Savings ( 80CCC ) : LIC OR Insurance Providers premium paid for Insurance

CPS Deductions ( 80CCD ):

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