Section u/s 80C:- An Individual or HUF Assessee may entitled to avail deduction up to Rs.150000/- on certain investment, which are described as below: -

1. Life insurance Premium of (a) Self, spouse and any child in case of individual and (b) any member in case of HUF.

2. As contribution to Public Provident fund (PPF), in the name of self, spouse and any child in case of individual and any member in case of HUF.

3. As contribution by an employee to a recognized provident fund and approved superannuation fund.

4. Any sum deposited in SUKANYA SAMRIDHI ACCOUNT, for any girl child of individual.

5. Subscription to the National saving scheme( NSC issued by post offices)

6. Tuition fees (excluding development fees, donation and etc.) to any university, college and school of any two children of individual.

7. Fixed deposit for 5 years or more with scheduled bank or Post offices.

8. Contribution to any Mutual fund and pension fund referred U/s 10(23D).

9. Payment of PRINCIPLE AMOUNT towards housing loan. (Purpose of housing loan is for purchase or construction of residential  house property)

10.Investment in ULIP Plans and LIC Mutual fund as notified by government.

How to pay income tax online

           1.  Select Challan No.280 from the given link ( https://onlineservices.tin.egov-    nsdl.com/etaxnew/tdsnontds.jsp)
      2. Now fill your all details. For better understanding a format given below in this post.
      3.Check all information before proceeding.
      4. When you submit the challan, it will  redirect you to internet banking portal,
      5. After that you fill amount in income tax column and if you have any interest on it then fill amount in the interest column.
       6. A challan receipt will be generated after successful  payment.

Format of challan: For individual assesee follow below mentioned instructions and select tick boxes as shown.

Section 87A :Rebate of Income-Tax in case of Certain Individuals

An individual (resident) assessee, whose total income does not exceed Rs. 5,00,000/- in A.Y. 2017-18 (i.e. F.Y. 2016-17), shall be entitled to a deduction of Rs. 5000/- or income tax on such income. Whichever is lower.

For Assessment Year 2018-19 (i.e. Financial Year started from 01.04.2017 to 31.03.2018),  An individual (resident) assessee, whose total income does not exceed Rs. 3,50,000/- after deduction , shall be entitled to a deduction of Rs. 2500/-. or income tax on such income, Whichever is lower.

Illustration:-

                                           

Income tax slab rate for A.Y. 2017-2018 (i.e. from 01.04.2016 to 31.03.2017)

For Individual (Male or Female both below age of 60 Year.), HUF and Non resident Indian.

Income below 2,50,000	Nil
Income Exceeds 2,50,000 but up to 5,00,000	10 per cent of the amount by which total income exceeds Rs. 2,50,000
Income Exceeds Rs. 5,00,000 but up to 10,00,000	Rs. 25,000 plus 20 percent of the amount by which income exceeds Rs. 5,00,000
Income Exceed Rs. 10,00,000	Rs. 1,25,000 plus 30 percent of the amount by which income exceeds Rs. 10,00,000

For Individual Senior citizens (individual Who is age of 60 Year. or more but less then 80Year.)
 

Income below 3,00,000	Nil
Income Exceeds 3,00,000 but up to 5,00,000	10 per cent of the amount by which total income exceeds Rs. 3,00,000
Income Exceeds Rs. 5,00,000 but up to 10,00,000	Rs. 20,000 plus 20 percent of the amount by which income exceeds Rs. 5,00,000
Income Exceed Rs. 10,00,000	Rs. 1,20,000 plus 30 percent of the amount by which income exceeds Rs. 10,00,000

For Individual Super Senior Citizen  (individual who is age of 80 year. or more)

Income below 5,00,000	Nil
Income Exceeds Rs. 5,00,000 but up to 10,00,000	20 percent of the amount by which income exceeds Rs. 5,00,000
Income Exceed Rs. 10,00,000	Rs. 1,00,000 plus 30 percent of the amount by which income exceeds Rs. 10,00,000

Note:-   1. 15% Surcharge on individual, HUF , if total income exceeds Rs. 1 Crore.(Marginal relief if applicable)
2. Education Cess 3% of income tax.
3. Tax rebate of Rs. 5000 Under section 87A of income tax Act, 1961 only for individual having total income upto Rs. 5,00,000. (This rebate not for HUF)

NEW SCHEMA OF ITR-1 (SAHAJ) AND ITR-4S (SUGAM)

Central board of direct tax inserted two new column in ITR -1 and ITR-4S return form which is as follows: -

1. Whether you have Aadhaar No. or not. 

            If assessee provide aadhaar no. in return form then you get a code on your registered mobile no. which is used for electronic verification code (EVC) system. After EVC  assessee have not required to send his ITR-V (Acknowledge) to CPC, Banglore. 

2. Detail of all Bank Accounts held in India during Previous year(Excluding dormant account)

            Bank Accounts Details provided in ITR return form as follows:-

             a) Total No. of Saving and Current account both.

             b) IFS code of Bank.

             c) Name of Bank

             d) Account No.

             e) Type of Account.

Here is two column for Bank account details

One Column for that bank account which is use for refund.

And another column is for all other bank accounts details.

EXTENSION DATE FOR FILING RETURN OF INCOME FOR A.Y. 2015-2016

The Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby extends the 'due-date' for filing Returns of Income, in terms of clause (c) of Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961, for Assessment Year 2015-16 from 31st July, 2015 to 31st August, 2015 in respect of income tax assessees concerned. 

ITR-1 AND ITR-4S AVAILABLE FOR A.Y. 2015-2016

Software for preparing ITR-1 and ITR-4S in Java, Excel and online for A.Y. 2015-2016 are now available for e filing. Assesee may also filed and submitted these forms after logging to the E-filing Website.
For Excel utilities, java version and online filing, kindly open the below link.
CHECK BELOW LINK:-
https://incometaxindiaefiling.gov.in/