The Excel-based Income Tax Calculator serves to compute taxes on various sources of income, including salary, pension, gifts, fixed deposits, bank interest, house rent, and capital gains (both short and long-term).
| For Everyone | |
| Upto Rs. 4,00,000 | Nil |
| Rs. 4,00,001 to Rs. 8,00,000 | 5 per cent |
| Rs. 8,00,001 to Rs. 12,00,000 | 10 per cent |
| Rs. 12,00,001 to Rs. 16,00,000 | 15 per cent |
| Rs. 16,00,001 to Rs. 20,00,000 | 20 per cent |
| Rs. 20,00,001 to Rs. 24,00,000 | 25 per cent |
| Above Rs. 24,00,000 | 30 per cent |
| For Everyone | |
| Upto Rs. 3,00,000 | Nil |
| Rs. 3,00,001 to Rs. 7,00,000 | 5 per cent |
| Rs. 7,00,001 to Rs. 10,00,000 | 10 per cent |
| Rs. 10,00,001 to Rs. 12,00,000 | 15 per cent |
| Rs. 12,00,001 to Rs. 15,00,000 | 20 per cent |
| Above Rs. 15,00,000 | 30 per cent |
| For Men | |
| Upto Rs. 2,50,000 | Nil |
| Rs. 2,50,001 to Rs. 5,00,000 | 5 per cent |
| Rs. 5,00,001 to Rs. 10,00,000 | 20 per cent |
| Above Rs. 10,00,000 | 30 per cent |
| For Women | |
| Upto Rs. 2,50,000 | Nil |
| Rs. 2,50,001 to Rs. 5,00,000 | 5 per cent |
| Rs. 5,00,001 to Rs. 10,00,000 | 20 per cent |
| Above Rs. 10,00,000 | 30 per cent |
| For a resident individual of 60 years or above (Senior Citizens) | |
| Upto Rs. 3,00,000 | Nil |
| Rs. 3,00,001 to Rs. 5,00,000 | 5 per cent |
| Rs. 5,00,001 to Rs. 10,00,000 | 20 per cent |
| Above Rs. 10,00,000 | 30 per cent |
| For a resident individual of 80 years or above (Very Senior Citizens) | |
| Upto Rs. 5,00,000 | Nil |
| Rs. 5,00,001 to Rs. 10,00,000 | 20 per cent |
| Above Rs. 10,00,000 | 30 per cent |
Kindly access the Income Tax Calculator through the provided links, tailored to your specific financial year/assessment year. This tool is designed to be user-friendly, and suitable for individuals with basic proficiency in Microsoft Excel.
Income Tax Calculator for financial year 2026-27 (151.5 KiB, 2,917 hits)
Income Tax Calculator for financial year 2025-26 (151.5 KiB, 31,997 hits)
Income Tax Calculator for financial year 2024-25 (150.5 KiB, 31,041 hits)
Income Tax Calculator for financial year 2023-24 (149.5 KiB, 26,873 hits)
Income Tax Calculator for financial year 2022-23 (148.5 KiB, 14,194 hits)
Income Tax Calculator for financial year 2021-22 (147.5 KiB, 10,843 hits)
Income Tax Calculator for financial year 2020-21 (141.5 KiB, 24,650 hits)
Income Tax Calculator for financial year 2019-20 (125.0 KiB, 57,967 hits)
Income Tax Calculator for financial year 2018-19 (125.0 KiB, 75,047 hits)
Income Tax Calculator for financial year 2017-18 (117.5 KiB, 47,207 hits)
Income Tax Calculator for financial year 2016-17 (136.5 KiB, 41,353 hits)
Income Tax Calculator for financial year 2015-16 (263.0 KiB, 55,305 hits)
Income Tax Calculator for financial year 2014-15 (136.0 KiB, 85,353 hits)
Income Tax Calculator for financial year 2013-14 (130.5 KiB, 60,084 hits)
Income Tax Calculator for financial year 2012-13 (119.0 KiB, 95,063 hits)
Income Tax Calculator for financial year 2011-12 (116.0 KiB, 198,885 hits)
Income Tax Calculator for Financial Year 2010-2011 (97.5 KiB, 162,712 hits)
Income Tax Calculator for Financial Year 2009-2010 (72.0 KiB, 71,419 hits)
Income Tax Calculator for Financial Year 2008-2009 (71.5 KiB, 28,699 hits)
Changes in FY 2020-21 (Budget Feb 2020):
Changes in FY 2019-20 (Budget July 2019):
Changes in FY 2019-20 (Interim Budget Feb 2019):
Changes in FY 2018-19:
Changes in FY 2017-18:
Changes in FY 2016-17:
1. Rebate increased to 5000 from 2000 u/s 87A
2. Like NPS, tax deduction also available for APY (Atal Pension Yojana)
This excel calculator supports the inclusion of the following components, explanation for each is also provided along:
House Rent Allowance (HRA): Rent receipts can be shown for taking tax benefit for living in a rented house. Income tax exemption for HRA will be least of the following:
In some cases, the deduction for both HRA and home loan interest (u/s 24) can be taken together in case owned house is not in the same city or not at a commutable distance to office.
Transport/Conveyance allowance: Rs 800 per month is non taxable if salary has this component. This would not be exempted in case of employee also avail of car reimbursement. No proofs/bills required to submit for this exemption.
Children education allowance: Per school-going child 1200 per annum is non-taxable. Maximum for 2 children, so max 2400 per annum becomes non-taxable.
Grade/Special/Management/Supplementary Allowance: That’s a general component in the industry to complete CTC amount after putting 35-40% into basic and 20% in HRA. This is not an expense, but this head is kept just to put the rest of the CTC amount into some component.
Arrears: Generally arrears are fully taxable, but the employee may claim exemption u/s 89(1). One would need to compute income tax on the arrears if it would have been received in the actual year. Now the difference of income tax between payment year and actual year would be allowed for deduction.
Gratuity: If the amount is received before completion of five years of service with the employer, it should be taxable. Else it would be non-taxable up to Rs 10 lakh in the case of non-government servants. In the case of Government service employees, it would be fully non taxable.
Leave travel allowance (LTA): Two trips on a block of four years can be claimed for exemption for travel done inside India. The following amount would be non-taxable:
Performance Incentive/Bonus: This component would be fully taxable.
Medical allowance/Reimbursement: This component is on-taxable up to 15000 per year (or Rs 1250 per month) on producing medical bills.
Food Coupons – Non-taxable up to 50 Rs per meal. So a 22 working month and one meal per day would make Rs 1100 as non taxable. Sodexo or Accor ticket coupons may also be provided by the employer for the same.
Periodical Journals: Some employers may provide a component for buying magazines, journals and books as a part of knowledge enhancement for business growth. This part would become non-taxable on providing original bills.
Professional Development Allowance: If original bills are submitted to the employer, this allowance may become non-taxable. Generally payment done towards any technical course fee, certification etc done to enhance professional knowledge can be reimbursed.
Uniform/Dress Allowance: Some sections of employees mat get an allowance for the purchase of office dress/uniform. In such a case, the component would become non-taxable.
Telephone reimbursements – In some cases, companies may provide a component for telephone bills. Employees may provide actual phone usage bills to reimburse this component and make it non-taxable.
Internet Expenses – Employer may also provide reimbursement of internet expenses and thus this would become non taxable.
Car expense reimbursements – In case the company provides a component for this and employee use the self-owned car for official and personal purposes, Rs 1800 per month would be non-taxable on showing bills for fuel or can maintenance. This amount would be Rs 2400 in case the car is more capacity than 1600cc.
Driver salary – If the employee pays the driver salary for a self-owned or company-owned car, Rs 900 per month may become non-taxable if the employer provides a component for it.
Gift from relatives vs non relatives: Gifts from relatives would be non-taxable with no limits attached. Following relations are covered under the non-taxable rule:
If gifts received from non-relative persons is worth more than Rs.50000, one is liable to pay the tax on whole value. Gift can be in form of a sum of money (in cash/cheque/bank draft/electronic transfer) or any articles.
Agricultural Income: If one has only only agricultural income, then it is fully exempt from income tax. If other income also there, a rebate on agricultural income would be provided at a 10-30% rate depending on the actual amount of agricultural income.
House rent Income: 30% of the rental income can be reduced as a standard deduction for repairs, maintenance etc. irrespective of the actual amount spent.
Bank/Fixed deposit/Post Office/NSC/SCSS interest: Interest earned on bank account, fixed deposits, post office, debt mutual funds/fixed maturity plans(kept less than one year) would be added to taxable income and taxed as per slab rates.
Short Term Gains from Share Trading/Equity Mutual funds: if stocks/equity mutual funds are sold before one year, 15% tax would be payable on such gains. STT should have been on transaction.
Long term gains from Share Trading/Equity Mutual funds: If stocks/equity mutual funds are kept for more than a year before the sale, it would be long term gains and such gains would be fully exempt from income tax. Securities transaction tax (STT) must have been paid on transactions for availing this exemption.
Section 80C, 80CCD and 80CCC deductions– One can claim his investments/payments under section 80C, 80CCC and 80CCD, up to 1.5 lakh (1 lakh before FY 2014-15) combined limit. Amount can be invested in:
Section 80D : Maximum deduction of up to 25,000 (15,000 before FY 2015-16) under medical or health insurance offered by life insurers taken for self and family. An additional deduction of up to 15,000 for buying cover for dependent parents. If parents/assessee are senior citizens, they can claim a deduction of up to Rs 30,000.
Section 80DD : Deduction of 75,000 for maintenance of a disabled dependent. If the disability is severe, the deduction amount will be 125,000.
Section 80E : Tax relief on interest payments on education loan taken for higher studies for self, spouse or child. There is no maximum limit on this deduction.
Section 80G: The eligibility is 50% or 100% of the donation amount subject to an overall ceiling of 10% of your gross total income to certain funds and charitable institutions.
Section 24/Home loan interest payment : The maximum limit is of 1.5 lakh on interest payments of a home loan for a self-occupied house. There is no ceiling on the amount of deduction if the house is let out or deemed to be let out. House rent would need to show in income in case house is not self-occupied.
Section 80U (Disabled/Handicapped person): Deduction can be claimed if a person has a disability. The allowed dedudtion for Rs 75,000. This deduction goes up to Rs. 100,000 in case disability is severe.
Section 80DDB deduction (Medical treatment expenses): Expenses done for medical treatment for self, spouse, dependent children, parents, brothers and sisters. Maximum deduction can be Rs 40,000 (goes up to 80,000 in case the patient is a senior citizen). Deduction is only allowed in the case of following diseases:
Professional tax: Professional tax deducted from salary by employer should be removed from taxable salary before computation of income tax.
Employer contribution of EPF/New pension scheme(NPS): Employer contribution does not become part of employee’s income and hence income tax is not payable on this part.
Tax deducted at Source (TDS) deduction: As per income tax rules, all payment which is taxable in nature should be done after deduction of taxes at the source itself. Hence employer computes income tax on salary payment and deducts it every month. This TDS is based on employee’s saving/investment declaration at the start of year. If investments for tax saving is not done, large amount may be deducted in the last few months.
In-Hand monthly salary: After deduction of all components like TDS, EPF etc in hand monthly salary is computed.
In-Hand monthly salary without reimbursements: Some of the employees get reimbursements components separately in a different payment other than salary, So this figure shows in hand salary w/o reimbursement components like medical, telephone, internet bills, driver salary etc.
Total income this year: This figure shows the whole year’s income from all sources combined.
Advance tax schedule: As per income tax rules, 30% of income tax should be paid by 15th Sept, 60% by 15th Dec and the rest by 31st March. If its not followed one may be charged interest penalty u/s 234C.
If you want to use a simple web based calculator, you may try, official income tax calculator by income tax department
Disclaimer: We are not responsible for any inaccuracies in the income tax computed by this tool. If one finds any issue, they can report same to us through contact us page and we would try to fix the problem as soon as possible.
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View Comments
If LTA & Bonus paid in May'2011 for FY (2010-11) during his Full & Final, last date of working is 04/04/2011 but, it was not included in his salary computation for FY(2010-11) & file the return also, can u pls suggest whether TDS to be deduct or Not on the same.
@Ramesh
TDS can be deducted on this bonus amount, which you will have to declare to your next employer for adjustment.
the link doesnt download properly
@Shanmugam
I don't see any issue with file download.
Please let me know what issue you are facing.
please advise i am paying interest from July 10 and i have not deducted tds can u explain what problem i have to face ?
@Suresh
If tax is not deposited on time, there is interest penalty which has to be paid u/s 234 B and C for the outstanding amount.
MONTHLY PER ANNUM
A. BASIC SALARY 20154
B. BOOKS ALLOWANCES 2000
C. LTA 4198
D. MEDICAL ALLOWANCES 1250
E. CONVEYANCE 800
F. MOBILE 6000
G. SPECIAL 3598
H. DEDUCTIONS
I. PROFESSIONAL TAX 200 2500 FEB 100 EXTRA
J. NET SALARY 37800 453500
K. BONUS 38000
L. RENT FREE ACCOMODATION 120000
M. MEDICAL INS 11000
N. PERSONAL ACCIDENT 3000
CTC 628000
SAVINGS (MAX 100000)
PPF 25000
LIC 10000
MF 20000
HOUSING LOAN PRINCIPAL PAYMENT 45666
TOTAL 100666
INT ON HOUSING LOAN EMI 24A (MAX150000) 119174
EDU LOAN INT 80E (NO LIMIT) 50000
PLEASE ADVISE ABOUT THE TAXABLE INCOME?
@Kunal
Please download and use income tax calculator to compute income tax liability.
Hi pankaj, My CTC is Rs. 875000 and I have investment of Rs. 128000 which consist of HDFC insurance Rs. 50000, LIC Rs. 30000 approx , PPF 40000 and LIC future plus Rs. 10000. Even after that april 11 month my tax deducted of Rs. 8200/- Can you please guide me for reducing my monthly tax
@Maria
Please go through following answers:
http://www.socialfinance.in/questions/7/tax-saving
http://www.socialfinance.in/questions/46/investment-suggestions
http://www.socialfinance.in/questions/45/investment-advise
http://www.socialfinance.in/questions/82/tax-exemption-component-for-salaried-employee
http://www.socialfinance.in/questions/118/tax-saving
http://www.socialfinance.in/questions/178/investment-advise
Dear Sir,
I have been provided with a Rent free Accomodation of Rs.10000 p.m. in my offer letter. It has been said that I will be provided my salary cheque after deducting this amnt from salary. Now I am confused how should i treat this as i am not geting this amount in hand. Please advise.
I have also downloaded your Tax calculator but it does not have any field regarding Rent Free Accomodation. Also advise what would be the tax treatment for Non-Taxable Allowances (eg. Mobile bills, Journals etc.) if I do not spend them and save them.
@Kunal
Company provided accommodation will be treated as a perquisite and will be taxed in hands of employee.
Perquisite value of the house will be added to your net income and is taxed as per the applicable slabs.
This has complex calculations and thus its not a part of income tax calculator as of now.
If you don't provide bills for mobile phone, journals then the amount will be taxable and you will get them after tax deduction.
Dear Mr. Pankaj,
I have bought some shares of Public Ltd company on Oct'10 & sold it on Mar'11 with profit. Shall I have to pay tax on this income accroding to my tax slab or any other rate will be applicable on that amount.
Regards,
Sudip
@Sudip
Income tax on short term capital gains on sale of shares when STT is paid on transaction, is 15% flat. It is irrespective of tax slab.
Hi sir,
My package is 4.2 lacs so can u tell me, how i can invest means, what is limit for medical, and like other---, one more thing my company deducting tds every month, so if i will full fill investment than how my tds will i get return from company or from I T office, and what will be way, thanks in advance
@Pritesh
TDS once deducted can only be got back from income tax department as refund, which will only come after income tax return filing.
For tax saving investments, please read following answers
http://www.socialfinance.in/questions/7/tax-saving
http://www.socialfinance.in/questions/46/investment-suggestions
http://www.socialfinance.in/questions/45/investment-advise
http://www.socialfinance.in/questions/82/tax-exemption-component-for-salaried-employee
http://www.socialfinance.in/questions/118/tax-saving
http://www.socialfinance.in/questions/178/investment-advise
Hi..
Income tax paid by me in F.Y.10-11, falls short by approx. Rs5000.Kindly tell me the interest payable on this amount and under which section does this interest comes? ITR-2 has 3 columns for interest payable under Sec 234A, 234B and 234C.Where should I show this interest?
Thanks
@Manoj
1) If your total tax liability after deducting TDS is Rs. 10000/- or more then you are liable to pay advance tax on or before 15th March.Failure to pay advance tax will attract to pay simple interest @1% PM on net tax liability u/s 234B from the due date till the date of actual paid.
2) If your total tax liability below Rs. 10000/- then you are liable to pay self assessment tax on or before 31st July. Failure to pay self assessment tax will attract simple interest @ 1% u/s 234A from the due date till the date of actual paid
@Mr.PANKAJ BATRA
Thanks for the reply.Sir,in your reply you did not mention anything about 234C.I am sending the details,kindly go through it.
Details for assessment yr 2011-2012 are as follows:
Total tax - 290000
TDS - 200000
Advance tax- 1st inst.:30000, 2nd inst.:30000, 3rd inst.:25000 (balance tax due:5000)
Capital gain: NIL
Is one liable to pay interest on this amount i.e. Rs5000, under both sec 234B and 234C?If yes, then kindly compute interest on this amount(Rs5000) under both these sections, assuming one has to file tax before 31st June. Thanks.
@Manoj
Interest u/s 234B is to calculated if the payment of tax is after the last day of the previous year @ 1% per month on the net tax payable. So you will need to pay 1% per month for April, May and June on Rs 5000.
Interest u/s 234C is to be calculated if the advance tax hasn’t been sufficiently paid within the due dates. 30% of tax has to be submitted by Sep 15th, 60% by 15th Dec and 100% by March 15th. For the deficiency in march interest under 234C has to be charged @ 1% only.
So you will have to pay 3% of 5000 under 234B and 1% of 5000 under 234C.
@Mr.PANKAJ BATRA
Sir,you seem to know just everything.THANKS.
One more query: As per section 288A and 288B, INCOME and any AMOUNT PAYABLE or REFUND DUE has to be rounded off to nearest multiple of 10. Is it mandatory to round off?
In the .xml file generated through software downloaded from incometaxefiling site, there is no such rounding off. But the software which CAs and incometax lawyers use does the rounding off under 288A and 288B.
So, If it is mandatory to round off, should one approach CA or income tax lawyer?
AND one last thing, Who is better for getting return filed CA or incometax lawyer?
THANKS.
@Manoj
As per 288A: The amount of total income computed in accordance with the foregoing provisions of this Act shall be rounded off to the nearest multiple of ten rupees and for this purpose any part of a rupee consisting of paise shall be ignored and thereafter if such amount is not a multiple of ten, then, if the last figure in that amount is five or more, the amount shall be increased to the next higher amount which is a multiple of ten and if the last figure is less than five, the amount shall be reduced to the next lower amount which is a multiple of ten; and the amount so rounded off shall be deemed to be the total income of the assessee for the purposes of this Act.
As per 288B: The amount of tax (including tax deductible at source or payable in advance), interest, penalty, fine or any other sum payable, and the amount of refund due, under the provisions of this Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise, then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise, it shall be ignored.
It better that you round off figures. Even if you don't do this, it won't be much concern.
If you want return to be filed with us, email your details to services@pankajbatra.com
@Pankaj Batra
Sir my question is also regarding interest on income tax.
Details r as follows:
Income only from salary and bank interest.
Total tax:180270 Tds:164000 Balance tax due:16270
I have not paid any of the advance tax installment yet.
Can you please compute total interest payable on 16270, considering return has to be filed before 30th june.
@Aakash Batra
Under section 234B, As your payable tax was more than 10,000 and you did not pay upto 90% of remaining tax yourself in form of advance tax, you are liable to pay 1% each for 3 months on pending tax amount (3% on 16270=488 Rs)
Under section 234C, following interest will have to be paid:
a. Shortfall till 15th Sept: 30% of 16270 = 4881
b. Shortfall till 15th Dec: 60% of 16270 = 9762
c. Shortfall till 15th March: 100% of 16270 = 16270
Total interest under 234C = 3% of a + 3% of b + 1% of c = 602 Rs.
@Manoj
There is one correction:
Under 234B, An assessee who paid advance tax but the amout of advance tax paid by him is less than 90% of assessed tax, than Simple interest @ 1% is payable on Assessed tax minus advance tax.
As in your case, more than 90% tax was already paid so 234B won't be applicable.
You will have to extra pay only Rs 50 for 234C (1% of 5000)
@ Pankaj Batra
ok.. Sir, in your statement "Under 234B, An assessee who paid advance tax but the amout of advance tax paid by him is less than 90% of "ASSESSED TAX"
the "assessed tax" means total advance tax to be paid in a financial year, isn't it ?
so TDS does not come under this assessed tax. correct me if I am wrong.
For example:
say someone has to pay total advance tax of Rs100 in a F.Y. and has paid 90 bucks by 15 march (paying all the installments on time), 234B would not be applicable, since he had already paid 90% of "assessed tax" or "total advance tax".. even though his employer might have deducted 1lac as TDS.
@Manoj
Yes, here assessed tax means total advance tax other than TDS that has to be paid.
Hi Pankaj,
After inputing all figures in the tax calculator 2011-12, my figure at cell P49 is 1,035,497 and at cell P50 is 2,400. I am wondering why at cell P51 it automatically becomes 998,897. What could be the reason for extra substraction of Rs.34,200?
Please explain.
Thanks in advance.
Manish Saxena
@Manish
Can you please send excel file to pankaj at pankajbatra.com, so that we can find out the issue.
Sent just now. Please check your mail.
Best regards,
Manish Saxena
Hi Pankaj,
I need to know that does PF come under 80C? and is that amount included in 1Lac investment?
@Prajakta
Yes, PF contribution comes under 80-C, but only the employee's contribution part.
Overall 80-C has maximum limit of 1 lac (which includes tax saving mutual funds, NSC, tax saving fixed deposits, insurance premium etc)
One of your previous posts mentions that Leave Encashment on quitting a job is tax exempt up to a certain limit. Does the excel sheet factor that in? If not, what's the work around?
@Aakash
There are conditions and extent for leave encashment to be tax exempted. Tax calculator considers whole leave encashment as taxable.
If whole encashment is eligible for exemption, you can skip putting same in calculator for exact tax computation.
Or you can put a negative exempted part in cell C54 to makeup for same.