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, 2,936 hits)
Income Tax Calculator for financial year 2025-26 (151.5 KiB, 32,001 hits)
Income Tax Calculator for financial year 2024-25 (150.5 KiB, 31,045 hits)
Income Tax Calculator for financial year 2023-24 (149.5 KiB, 26,876 hits)
Income Tax Calculator for financial year 2022-23 (148.5 KiB, 14,199 hits)
Income Tax Calculator for financial year 2021-22 (147.5 KiB, 10,850 hits)
Income Tax Calculator for financial year 2020-21 (141.5 KiB, 24,655 hits)
Income Tax Calculator for financial year 2019-20 (125.0 KiB, 57,972 hits)
Income Tax Calculator for financial year 2018-19 (125.0 KiB, 75,051 hits)
Income Tax Calculator for financial year 2017-18 (117.5 KiB, 47,212 hits)
Income Tax Calculator for financial year 2016-17 (136.5 KiB, 41,360 hits)
Income Tax Calculator for financial year 2015-16 (263.0 KiB, 55,308 hits)
Income Tax Calculator for financial year 2014-15 (136.0 KiB, 85,358 hits)
Income Tax Calculator for financial year 2013-14 (130.5 KiB, 60,089 hits)
Income Tax Calculator for financial year 2012-13 (119.0 KiB, 95,068 hits)
Income Tax Calculator for financial year 2011-12 (116.0 KiB, 198,888 hits)
Income Tax Calculator for Financial Year 2010-2011 (97.5 KiB, 162,714 hits)
Income Tax Calculator for Financial Year 2009-2010 (72.0 KiB, 71,420 hits)
Income Tax Calculator for Financial Year 2008-2009 (71.5 KiB, 28,702 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
The ITR software I downloaded seems to be considering the first slab up to 1.6 lac instead of 1.8 lac. How can I ensure this is not the case. After doing the calculation, I have this suspicion.
@Manoj
Can you please make sure that you are using file for 2011-12 and not for 2010-11.
Dear Mr Batra,
One of my friend, did not file return for the last 3 years since he did not have any taxable income. He recently found out that on his bank deposit, bank has been deducting TDS, despite furnishing form 15h, for the last 3 years. I want to know, if it is possible to file return for FY08-09, 09-10, 10-11 now? I know 10-11 can be done now. But for earlier years, please advice
regards
@Praveen
Unfortunately its too late now for FY 08-09 and 09-10, and even if your friend files return, he most probably won't get refund for same.
They may even issue a penalty demand for late filing of return.
Dear Pankaj,
i am planning to sell a residential property in mumbai that i own since 1976... i want to buy another property and the have some profit from the sale to be invested too... how do i pay minimum amount of tax? after buying the new property the balance of capital gains is taxable... can i invest that in govt. bonds to avoid any capital gains tax?? please advise as to how can i maximize my gains and pay minimum tax and secure my future.
Regards
@Pramod
First you need to compute long term capital gains with below method:
Purchase Year = A , Purchase Cost = P , Cost Inflation Index (CII) for purchase year = X
Sale Year = B, Selling price = Q, CII for sale year = Y
Indexed Purchase price = P x (Y/X) = R
Long term capital gain = Q - R = S
You can use section 54 and 54EC to save tax on this gain. Under section 54, you can buy a residential house property. No income tax is applicable if cost of new house is more than capital gain amount. If its less, income tax is payable on remaining unused gains amount.
Under section 54EC, gains can be invested into capital gain bonds to save tax. Max investment limit in these bonds is 50 lacs per financial year.
Income tax law is silent on whether both 54 and 54EC can be applied simultaneously, So I would advise to use both with caution. You may also consult a tax professional/CA who has good experience in property matters.
Hi Pankaj,
I miscalculated my Taxable income. (e.g. it was like ****05, so it should have been treated as ****10.But coz I'm not aware if this fact I assumed it to be ****05 )
Now as per, "Intimation U/S 143(1)" that CPC have sent to me via e-mail (I used e-filling), my total taxable income is Rs 4943 whereas I have paid Rs 4842.
What should I do now?
Do I need to pay Re 1, if yes, How?
Is this e-mail, "Intimation U/S 143(1)" is a notice?
Please guide.
Hi Pankaj,
One more query..regarding this financial year.
I have took a loan of 15Lac & also possession have been taken.
Property is in the of me & my mother.
So , bank insisted loan should also be in the name of both.
But, the whole loan is paid me.
So, can I take 100% rebate on tax or only 50% as its in the name of me & my mother.
Please suggest.
@Praveen
If whole interest payment is done by you, you can claim full 100% interest claim subject to 1.5 lac annual limit.
Same with principal payment, you can claim full 100% principal payment under 80C, subject to total 1 lac limit in 80C.
@Praveen
It should not be an issue and you need not to worry for same. This small amount is not really an issue.
But if you really want to pay it, it can be paid online on this link: Pay Tax Online (Use only Internet explorer for this).
Select challan type as CHALLAN NO. /ITNS 280 and continue. Select (0021) INCOME-TAX (OTHER THAN COMPANIES) in tax applicable field and Select (300) SELF ASSESSMENT TAX in type of payment.
Select bank through which you want to pay.
Intimation U/S 143(1) is not a demand notice but a assessment report.
If Purchase are more than rs. 90 Lakhs, and sales are Rs. 10 Lakhs, will tax audit be applicable?
@Shakir
I think audit won't be applicable as sales are less than 60 lacs.
my itr 4 excel file is not loading on site http://www.incometax india e filing .how to enable macro. any other site where we can file it return online or send me solution
@Dr M L Jain
You can read here: http://office.microsoft.com/en-us/excel-help/enable-or-disable-macros-in-office-documents-HA010031071.aspx about how to enable macro in excel.
Dear Pankaj ji
I am working in Gulf from last 4 years but i hv not file any returns, how can i regularise the filing of retuns. and are there any issues.?
@A K Joshi
If your Indian income was below taxable range, it was not mandatory to file income tax return.
There won't be an issue if you have not filed income tax return for these years.
sir, i am working in PSU bank and NPS is been deducted from my salary but there is no such field in your calculator. kindly guide where should i show this deduction. Also can u highlight the benefit of NPS.
@Stalin
Thanks for reporting this issue.
NPS contribution fields have been now added to income tax calculator excel. Please download the new version from website.
Regarding NPS benefits and details, you may read on this page: New Pension Scheme/System
sir, my monthly in hand is 25000 and ctc is 317280 (female), am i liable to pay tax? if yes then i havnt done so, and ned to show a tax form to my new company. what shall i do in this case? can a CA retrieve my tax statement through my PAN number? plz assist!!!!
@Divya
Please download income tax calculator and compute your income tax liability yourself.
CA cannot retrieve your tax statement just by knowing your PAN information.
@ pankaj sir, thx for adding the NPS option in the calculator , also the details of NPS was informative