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Assessment Year 2015-16 has been enabled on TaxCloud

Assessment Year 2015-16 has been enabled on TaxCloud
(added 18/12/2014)

We have now added support for AY 2015-16 in TaxCloud. You can now start creating entities for AY 2015-16 in order to check the computation for your clients.

Some of the changes in the tax calculations for AY 2015-16 are:

  • Basic Exemption limit raised to Rs. 2,50,000
  • Section 80C limit has been raised to Rs. 1,50,000
    • Section 80CCD(1) limit to remain at Rs. 1,00,000 though
    • PPF limit raised to Rs. 1,50,000
  • Deduction available against interest of house property has been raised to Rs. 2,00,000

How to select AY 2015-16 in TaxCloud

In order to start work for AY 2015-16, click on the "Work on this Entity" button and select 2015-16 as the assessment year.

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