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, 162,713 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
Hi Pankaj,
I have donate some amount this year but i was not aware that will give me tax banifit. I recently came to know this. Can you please let me know how i can show it since it was not part of my form 16 which I got from Employer. If yes then Do I need to submit document for reference for the same.
@Jai
You can claim deduction for donation under section 80G.
Even if its not a part of form-16, its not an issue, you can show same in income tax return form. No documents needs to be submitted along with return for same, declaration is sufficient.
Thanks for your reply sir.
I have few more queries :
I have paid the self assessment taxof Rs. 917 online but I entered wrong assessment year (as 2010-2011 )It should be 2011-12. And with this data I have submitted my return online on incometaxindiaefiling.gov.in.But I have not sent ITRV to the department yet.
Q1.Can I repay the amount with new challan and update the challan in ITR-2 form(excel available on incometaxindiaefiling.gov.in) and again submit my return online? Then I will send the new ITRV to the department.(Repaying option I amtaking into consideration as it is not a huge amount and the mistake was done by me)
Q2.How to get the previous challan rectified? Will bank be able to rectify it? I talked to my AO and as per him, “as it is my mistake nothing can be donefrom his side”. And no further response. (Actually he is not ready totalk. After trying for 3 days I got the above one liner response).
Q3.If the answer of Q1 is “yes” then can I claim that amount for refund?
It will be a great help for me if u answer these questionin detail. Kindly give me the best solution as it is impossible for me to visitIncome tax office due to time constraint.
Many Thanks,
@Prem
1. Yes, you can pay online again and file a revised return.
2. To get amount back for extra paid tax, you can write a request letter to income tax office an send it through registered post. Also you can file a revised return for AY 2010-11 and claim refund for the same.
we can take credit of Additional TDS certificates without filing of revised return. If yes, then in which act of income tax
@Manoj
There is no such rule of getting refund of additional TDS deposited.
However, as per income tax online deposit website, "You should approach your Assessing Officer with an application containing the details of your PAN and the CIN and request him to carry out the necessary corrections."
See 3rd question on this page: http://www.tin-nsdl.com/faqOLTASdeposit.asp
pankajbhai i am a govt. medical officer (ayurved) how i paid my IT means by pan or by tan under of TDO. and HRA IS refundable to me. i paid my tax in 10-11 by my pan no.
@Jigar
Sorry, I am not able to understand your query. You can also explain in Hindi if you want.
The income tax calculator for FY 11-12 (AY 12-13) has a minor glitch. Upon entering the basic salary, it does not compute the employee contribution to income tax. It does not allow the manual entry of that amount. Please correct this formula, otherwise the calculator won't be much helpful
@Mohit
I am not able to understand your problem. Can you please explain in details.
And what is Employee contribution to income tax.
I an SBI employee. I recently bought a second house. I have housing loan for my first house for which I claim IT rebate. First house is given on rent. I add rental income in my return. I may give the second house also on rent as I am posted away from my residence. Please advise on the following
1. can I use my second house loan repayment along with first one in my IT calculation
2. I heard that the stamp duty paid for registering my second house can be used for my IT calculation
@Praveen
1. Yes, you can use home loan repayment for both the houses. As both of houses are on rent and you show rental income, there is no upper limit of home loan interest deduction.
2. Amount paid towards stamp duty/registration can be deducted from income under section 80-C (but combined 80-C limit is 1 lakh only).
Hi Pankaj,
My company has given the FORM -16 to me. I want to show the amount paid towards stamp duty/registration under section 80-C which is not there in FORM-16. Is there any provision in ITR -I to show this amout (since this is not mentioned in FORM-16). If yes where in ITR - I and how should i submit the proof of stamp duty?
Thanks,
Hari
@Hari
You can add registration amount to field provided in ITR for 80-C deduction. No proof/document needs to be submitted with ITR.
Hello,
I have lost my PAN card about 7 months ago and have still applied for a new one. When can I apply for the same and how soon I can get the same. Would the new PAN card will have a different number? I am asking this because, I still write my old number at any place that requires a PAN. Please advise.
Thanks,
@J Singh
You can apply for a duplicate/reprint of PAN card and you will get a new card with same number.
You can also apply online on this link: https://tin.tin.nsdl.com/pan/index.html
Only one PAN is issued to one person. Having more than one PAN is illegal.
Hi Pankaj,
My employe has rounded of the total taxable income to nearest mutiple of 10 as per 288A.
I cannot supply this rounded off figure while filing ITR-1 online (excel utility) as the total taxable income field in ITR-1 utility is non editable as it would be computed automatically once I will supply all my income and deductions details.
Kindly suggest !
Thanks !
@Ankur
Can you please let us know which ITR form and cell/sheet you are referring to.
Pankaj,
I was referring to ITR-1 excel utility, sheet - Income Details, row # 60, for field - 7.Total Income
@Ankur
Don't worry about this thing.
Total income in field 7 is computed by Field 4 - Field 6.
Salary should be entered in field 1, and after deduction, remaining value comes in total income.
You will have to provide Form-16 value on field 6 (Income Chargeable under the head 'salaries'(3-5)) in ITR1 form in field 1 (Income from Salary / Pension).
Fill 9A total from Form-16 to 5a in ITR and 9.B.2,10 to 5e and 5d respectively.
Pankaj,
So overall, difference of a little amount (Rs.5 in my case) due to rounding off the amount to nearest multiple of 10, as per 288A of IT dept, derived from field 7(Total Income (4-6))of ITR-1 and field 11(Total Income(8-10)) is acceptable?
Also, field 1 of ITR-1, (Income from salary/pension) is salary after deductions u/s 10 of Income tax dept ?
Thanks in advance !
Also, should I go along with the auto-calculation of ITR-1, not with the form 16 calculation?
@Ankur
Field 1 in ITR1 is figure in form-16 under mention "(Income Chargeable under the head ‘salaries’(3-5)"
If ITR form is not rounding off figures, that's acceptable, it won't change income tax much (max 1 Rs).
Also if you want tax as it is as in form-16, you can overwrite auto-calculated figure in form.
sir where or in which sheet to show the consultancy income from income from other sources, in ITR-4 along with business income. I got confused by seeing so many sheets. And i dint get the particular cell to mention the consultancy income. There is only one cell that is income other than income from horse race. should i mention the income there itself... please guide me. thank you.
@Raj
If you have substantial part of your income from salary only, then you can even file ITR1 and put income from consultancy in income from other income section.
But if majority of your income is from profession/business/consultancy, you will have to file ITR4.
IT4 is a bit complex one and requires profit/loss account maintenance and balance sheet creation.
All expenses incurred for running business has to be shown and income will be computed accordingly.
We would advise you to take help of a CA or tax professional in this case.
In case you need paid consulting from us, email us at services@pankajbatra.com
Is Bank Interest paid by bank to my saving account taxable, if there is any minimum interest that is exempted from paying the tax please do imform me.
@Anantanand
Bank interest will be added to your taxable income and will be taxed as per slab rates.
There is no minimum interest above which its taxable. Any amount earned from bank interest has to be added to income.
Thank
The Information is very information to me.