INCOME TAX SOFTWARE 2018-19 for employees and pensioners 

 ఉపాధ్యాయులు తమ యొక్క ఆదాయపన్ను ఫారం-16 కొరకు వారి యొక్క వివరాలను నమోదు చేయడానికి వీలుగా ఒక application ను తయారు చేయడం జరిగింది.
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                       Income Tax Software For Employees .
Income Tax Software for AP teachers. Income Tax Software 2018-2019,
Download IT Software 2019 for Financial Year 2018-19. Income Tax Slab Rate for AY 2018-19 for Employees Individuals ఆదాయపు పన్ను లెక్కింపు సాఫ్ట్ వేర్ 2018-19 IT SOFTWARE 2018-19 ఆదాయపుపన్ను లెక్కింపు సాఫ్ట్ వేర్ 2018-19 ఆర్ధిక సం. 2018—19 సం॥ ఆదాయపు పన్ను చెల్లించేవారు మీ income tax వెంటనే లెక్కించుకోవడం. ఫిబ్రవరి నెలలో వచ్చే మీ net salary కంటే income tax ఎక్కువ ఉండవచ్చు.అందువలన మీ income tax లెక్కించుకొని ఈ నెల నుండి deduction చేయడం వలన పిబ్రవరి నెల లో తక్కువ amount పడుతుంది.
Income Tax Rate for Individuals – AY 2019-20

Individuals are required to file income tax return each year if they have taxable income of more than Rs.2.5 lakhs. The income tax rate AY 2019-20 or FY 2018-19 for salaried individuals is as follows.

Note: Financial year starts from 1st April and ends on 31st March. For example, the financial year 2018 – 19 would be 1st April 2018 to 31st March 2019. Assessment year is the year immediately following the financial year wherein the income of the financial year is assessed. Hence, in the assessment year 2019 – 20 the income tax for the period from 1st April 2018 to 31st March 2019 would be assessed.
Income Tax Rate AY 2019-20 | FY 2018-19 – Individuals less than 60 years
Taxable income Tax Rate
Up to Rs. 2,50,000 Nil
Rs. 2,50,000 to Rs. 5,00,000 5 %
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
Income Tax Rate AY 2019-20 | FY 2018-19 – Individuals betwen 60 years and 80 years
Taxable income Tax Rate
Up to Rs. 3,00,000 Nil
Rs. 3,00,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
Income Tax Rate AY 2019-20 | FY 2018-19 – Individuals above 80 years
Taxable income Tax Rate
Up to Rs. 5,00,000 Nil
Rs. 5,00,000 – Rs. 10,00,000 20%
Above Rs. 10,00,000 30%

In addition to the Income Tax amount calculated, based on the above-mentioned tax slabs, individuals are required to pay Surcharge and Cess.

    Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.

    Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.

    Health & Education Cess: 4% of Income Tax. (Newly introduced through 2018 Budget)

Why Should Individuals File Income Tax Return?

Under the Income Tax Act, all individuals below the age of 60 years are required to file income tax return if total income exceeds Rs. 2.5 lakhs. In the case of individuals over the age of 60 years, but below 80 years, income tax filing is mandatory if total income exceeds Rs.3 lakhs. Individuals over the age of 80 years are required to file income tax return if the total income exceeds Rs.5 lakhs.
Penalty for Not Filing Income Tax Return

Not filing your Income Tax Return would result in :

    Receiving a notice from Income Tax department
    Not being able to obtain refund of excess TDS Deducted.
    Penalty interest of  1% per month or part thereof will be charged until the date of payment of taxes. For returns of FY 2017-18 and onwards, penalty of Rs 5,000 will be charged for returns filed after due date but before 31st December. If returns are filed after 31st December, a penalty of Rs 10,000 shall apply. However, penalty will be Rs 1,000 for those with income upto Rs 5 Lakhs.
    Not being able to set off Losses. Losses incurred (other than house property loss) will not be allowed to be carried forward to subsequent years,  to be set off against the future gains.

Knom more about penalty for late filing income tax returns.
Due Date for Filing Income Tax Return for Salaried Individuals

The income tax return of a salaried individual is due on 31st July.
Which ITR Form should a salaried individual use?

Salaried Individuals may have to file ITR-1 or ITR-2 based on certain criteria as detailed below :
Form ITR-1

Form ITR-1 must be used when the source of income is limited to Salary/Pension, One House Property and other sources (Excluding winning from lottery and race horses).

Form ITR-1 should not be filed for below cases :

    Income that exceeds Rs. 50 Lakhs
    Assessee has Taxable Capital Gains
    Assessee has any of the below sources of income :
        Income from foreign assets
        Agricultural income that exceeds Rs. 5000
        Income from Business or Profession
        Income from more than one house property

Know more about ITR-1 return