About us


Pratik IT Services, Giridih, Jharkhand is situated in District-Giridih, State of Jharkhand. He is developed dynamic web application in open sources technology i.e. J2EE/JSP platform using Structs2/Hibernate/Spring/Jasper/Jcapthca framework, which is running on Tomcat Server. He is also design front end for responsive web application in Joomla. Which is compatible for Desktop, Laptop, Mobile or Tablet PC.


Pratik IT Services, Giridih, Jharkhand successfully lounched TDS paper preparation system on 11th February 2013 and more than 15,000 TDS paper & more than 2,000 U/s-89(i)/Form-10E is successfully prepared by this system upto Financial Year 2018-19. Full details in [Services section]

About us

Pratik IT Services, Giridih, Jharkhand is situated in District-Giridih, State of Jharkhand...

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what we do

Pratik IT Services, Giridih, Jharkhand successfully lounched TDS paper preparation system on 11th February 2013...

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feature of our services

1. Keep your soft copy TDS in future without any cost. So lost of TDS paper is not a matter and you re-print here TDS paper without any cost in future.


2. Prepare TDS, Schedule and Salary Details in ...

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Income Tax Rate

Assessment Year 2020-21/Financial Year 2019-20

1. In case of an Individual (resident or non-resident) or AOP or BOI or HUF or any other artificial juridical person

Taxable Income

Tax Rate

Upto 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%

2. In case of a resident senior citizen (who is 60 years or more at any time during the previous year but less than 80 years on the last day of the previous year)

Taxable Income

Tax Rate

Upto 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%

3. In case of a resident super senior citizen (who is 80 years or more at any time during the previous year)

Taxable Income

Tax Rate

Rs. 5,00,000/- To Rs. 10,00,000/-

20%

Above Rs. 10,00,000/-

30%

4. Other Important Section.

(1) U/s 87A - The rebate is available to a resident individual if his total income does not exceed

Rs. 5, 00,000. The amount of rebate shall be 100% of income-tax or Rs. 12,500, whichever is less.

(2) Health and Education Cess - 4%

(3) Surcharge - 10% if total income exceeds fifty lakh rupees but does not exceed one crore rupees. But if total income exceeds one crore rupees than surcharge rate is 15%.

U/s-80C

Up to 1,50,000 (Subject to overall limit of Rs. 1,50,000 under Section 80C, 80CCC and 80CCD)

U/s-80CCC

Contribution to certain specified Pension Funds of LIC/other insurer (Subject to certain conditions).


Up to 1,50,000 (Subject to overall limit of Rs. 1,50,000 under Section 80C, 80CCC and 80CCD)

U/s-80CCG

Amount invested by specified resident individuals in listed shares or listed units in accordance with notified scheme for a lock-in period of 3 years (Subject to certain conditions).


The deduction under this section for F.Y. 2018-19 shall be allowed to an employee who has claimed deduction under this section for F.Y 2016-17 if he is otherwise eligible to claim deduction as per provisions of this sections.


Deduction of 50% of total investment subject to maximum of Rs. 25,000 is allowed for 3 consecutive assessment years, beginning with the assessment year relevant to the previous year in which the listed shares or list units of equity oriented funds are first acquired

U/s-80CCD

Contribution to Pension Scheme (NPS) notified by the Central Government (Subject to certain conditions).


Amount contributed to pension scheme or 10% of salary/gross total income*, whichever is less (subject to ceiling limit of Rs. 1,50,000 as provided under Section 80CCE) shall be allowed as deduction under section 80CCD(1).


Additional deduction to the extent of Rs. 50,000 shall also be available to the assessee under section 80CCD(1B). The additional deduction is not subject to ceiling limit of Rs. 1,50,000 as provided under Section 80CCE.


Contribution made by employer shall also be allowed as deduction under section 80CCD(2) while computing total income of the employee. However, amount of deduction could not exceed 10% of salary of the employee.


*10% of salary in case of employees otherwise 20% of gross total income.

U/s-80D

In case of Individual, amount paid:


a) For self, spouse and dependent children: Up to Rs. 25,000 (Rs. 50,000 if specified person is a senior citizen)


b) For parents: additional deduction of Rs. 25,000 shall be allowed (Rs. 50,000 if parent is a senior citizen)


In case of HUF, up to Rs. 25,000 (Rs. 50,000 if specified person is a senior citizen).

U/s-80DD

Rs. 75,000 (Rs. 1,25,000 in case of severe disability)


Note:


“dependant” means—


(i) in the case of an individual, the spouse, children, parents, brothers and sisters of the individual or any of them;


(ii) in the case of a HUF, any member thereof,


dependant wholly or mainly on such individual or Hindu undivided family for his support and maintenance, and who has not claimed any deduction under section 80U in computing his total income for the assessment year relating to the previous year.

U/s-80DDB

Up to Rs. 40,000 (Rs. 100,000 in case of senior citizen)


With effect from assessment year 2016-17, the prescription for medical treatment may be obtained from any specialist doctor not necessarily from a doctor working in Government hospital only

U/s-80E

(Higher Education)

The amount of interest paid during initial year and 7 immediately succeeding assessment years (or until the above interest is paid in full).

U/s-80EEA

(House Property)

Interest payable on loan taken by taxpayer from any financial institution, sanctioned during the FY 2019-20, for the purpose of acquisition of a residential house property whose value does not exceed Rs. 45 lakhs.
Note:
1. On the date of sanction of loan, taxpayer should not own any other residential house property.
2. The deduction is available from AY 2020-21 and subsequent assessment years.

Deduction of up to Rs. 1,50,000 towards interest on loan.

U/s-80TTA

(Bank Interest-Individual and HUF)

100% of amount of such income subject to maximum of Rs. 10,000

U/s-80TTB

(Bank Interest-Any senior citizen)

100% of the amount of such income subject to the maximum amount of Rs. 50,000

U/s-80U

(Resident Individual)

Rs. 75,000 (Rs. 1,25,000 in case of severe disability)

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