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

DownloadAutomated All in One TDS on Salary for The Assam StateGovt. Employees for the Financial Year 2019-2020 and Assessment Year 20120-2021With New Format of Form 16 Part B.

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