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July 21, 2012 at 1:11 am #67716
I hope my efforts to create this utility will be helpful to all. Though this utility has been created for the Financial Year 2012-2013, It may be used in future too. I have not made changes of the Form-16, as the same will also be generated through COSA and also can be collected form the Incometax website.
This utility has many more features than the previous one and necessary changes has been made as per the changes made in Income tax act. NPA, Taxable and exempted allowances, income from other sources like pension, savings account and many more has been included. Exemption of House Rent Allowance U/s 10(13A) has also been included and a separate sheet has been added for that calculation. Please read the whole thoroughly before using this utility. If you have any doubt or suggestion, feel free to post the same. Your feedback is exigent.July 21, 2012 at 3:30 am #73326
Thanx for including NPA, but where I include Grade Pay. Is there any seperate column necessory or not? please include it if required. Letter size and column width may be little small. Secondly can you take into account bank interest in other income source where upto 10,000/anum is not taxable. Thirdly,suppose a man is transferred from one place to another place in the middle of financial year, then can COSA calculate form 16? and how? will you plz tell?July 21, 2012 at 3:51 am #73328
Grade pay has been included in Basic pay. No need to include other column. Are you having any difficulty to view the table? I have no problem.
Secondly savings bank interest upto 10,000 will be exempted u/s 80TTA and that has already been included.
Thirdly ,suppose a man is transferred from one place to another place in the middle of financial year, then form 16 will be issued separately by both the D.D.O. for the respective period and that should be created by COSA. Anyway this form 16 may also be used instead of COSA. We used this last year too.July 21, 2012 at 4:03 am #73329
Its ok. I am grateful to you. i have no problem to see it. i am not in a position to suggest you. Can the first column name changed to (BP+GP), instead of Basic?July 21, 2012 at 4:33 am #73330
You are welcome. I think you can change that though B.P.+ G.P. = Basic as per new Ropa.July 21, 2012 at 7:27 am #73333
i fail to understand HRA exeption under 10(13A) particularly this part-
c)Rent paid over 10 % of Salary (Rs.70,000 – 10% of Rs.6,06,871)
why this part is fixed?
although no problem with calculation.
regards.July 21, 2012 at 11:49 am #73335
Column ‘I’ of Form 16 may be widened a little.July 21, 2012 at 3:02 pm #73336
i fail to understand HRA exeption under 10(13A) particularly this part-c)Rent paid over 10 % of Salary (Rs.70,000 – 10% of Rs.6,06,871)why this part is fixed?although no problem with calculation.regards.
Thanks for the observation, problem solved.
Column ‘I’ of Form 16 may be widened a little.
DoneJuly 23, 2012 at 3:37 pm #73360
S I T C 2013 its a very nice. but i think u add one more colum in deduction colum for GFP refundable Adv.
All the best
ArindamJuly 23, 2012 at 4:32 pm #73361
Thanks for your feedback. One of our friend requested me to add exemption u/s 57, I shall make all the necessary changes having more feedback.
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