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,
This is vijay, my CTC is 6lakhs, but i see a lot of issues with the tax deductions, As far as i know i will come under the 10% tax bracket so out of 6Lakhs, 180000 is non - taxable, and if we add HRA and 80C components which my company say they are tax excempt, it will 99600 for HRA and 100000 for 80C, so the total excempt should be 379600. but i see that my company is not considering the 180000 non excempt bracket for males.. is that legal, please suggest
@Vijay
Please try to understand tax slab rates.
There is 0% income tax on initial 1,80,000 of taxable income, it does not mean that income is exempt from income tax.
If your CTC is 6 lakhs and 99600 is HRA exemption and you have saved 1 lakh towards 80-C then your total taxable income will be 400400 (600000-99600-100000).
Income tax on this taxable income will be as per below calculation:
(180000*0%)+(220400*10%) = Rs 22040
Thanks Pankaj, in that case can you please suggest me with any options for the tax, can i go ahead with 80G/80E and if i do will that be added to as an tax excempt?
@Vijay
You can read about other tax saving methods on below mentioned links:
http://www.socialfinance.in/questions/7/tax-saving
http://www.socialfinance.in/questions/45/investment-advise
tax calculator is not showing any effect of deduction towards leave availed?
@Tejas
Thanks for pointing out the issue.
File has been corrected now, Please download and verify the same.
Respected Mr. Pankaj,
Thanks a lot for sharing the IT Calculator for 2011-12. It has been very handy and helpful.
I had a few queries regarding a few components in my salary, for which I need some guidance.
My CTC PM comes to around 42K, and a few heads in the salary which are not reflected in your excel sheet while calculating the Tax, so where do I incorporate these overheads?
1. Reimbursements for Vehicle Expense (This is given to me apart from the regular Conveyance Allowances every month).
2. Outstation Allowance
3. Special Allowance
4. PF (The company shows a lump sum amount in the CTC, does not give the break up of employee and employer contribution separetely, so I have assumed to take it 50:50).
5. The company says I am eligible for Gratuity as per policy norms of the firm, but the amount is not reflected in the CTC.
I have a declared deductions against Education Loan Interest @60000/- p.a
and I have a PH disability of 40%, so how do I claim for deductions for Section 80U?
I would request you to please guide me regarding the above points.
Thanks.
@Dr. Shiraj
1. Vehicle expense reimbursement can be put under Row 26
2. As of now there is no head for outstation allowance. For now you can put same under Grade/Special/Management/Supplemementary Allowance, City Compensatory Allowance (CCA), Performance Incentive/Bonus, Periodical Journals, Uniform/Dress Allowance, Or Car Reimbursement.
3. Use Row 14 for Special allowance
4. Use row 103 and 111 for PF contribution
5. Gratuity is paid after 5 years of service.
For Education loan interest deduction (u/s 80E), use row 84.
For disability deduction (section 80U) use row 85.
Dear Pankaj,
I have sold my shares in last Financial year ( Feb'11). I am planning to pay the tax this year. Shall I have to pay tax @ 15% (STCG) with 3% cess or I have to pay any penalty.
HI Mr. Pankaj,
I am joining a new co. on a CTC of 18 Lac. This will include my Ph/ net Bills, Actual petrol bills. I dont have any home loan. as you have mentioned in calculator, Driver salary, allowance, car reimbursement and other parts are taxable or not ? and second how much one can claim from it.
Confused, tried a lot to find on net but but failed, pls help.
@Abhigyan
There is no as such limit on phone/internet bills. But your CTC will have fixed component for same. On producing these bills, this component will become non-taxable.
Driver salary is non-taxable upto Rs 900 per month for employee owned car.
Car reimbursement is non taxable for Rs 1800 per month (2400 for a car > 1.6 cc) for employee owned car.
but when i am putting 10000 per month in driver salary & 10000 per month for car reimbursment, calculator is taking total amount.
@Abhigyan
There are different rules for driver salary and car reimbursements.
In case its a company provided car, there is no limit for exemption.
That's why this has been kept free in the hands of calculator user. You can override exempted amount in C50 and C52.
Hi Pankaj,
I got a notice from income tax department that I'm liable for some more tax,
"e-Return has been processed at CPC - demand determined (tax is payable)".
I have only salary as only one source of income. I'm unable to determine how the more tax is liable on me. As per the document they had sent it has only difference between the total tax amount. I'm not sure about how they calcuated this.
How can I get this rectified? When I conctacted the help line number they say there was a mistake due to which may people got this kind of letter.
Thanks & Regards,
Kishan
@Kishan
You can calculate income tax yourself and check why there is a mismatch.
If you think calculation in income tax department sheet is incorrect, you should write them back with clarification.
I had bought the shares of Coal India Ltd during IPO through SBI ASBA in Nov'10 and sold it in Feb'11. Does this income comes under STCG? The value of profit is abt 7000 INR.
@Sudip
You had sold shares within a period of one year therefore your income from shares is taxable in the head short term capital gain. The rate of tax is 15% on profit.
@Sudip
Also as the income tax has not been paid before 31st March. There will also be penalty of 1% per month u/s 234 B.
Dear Pankaj,
My source of income are from salary & share trading. During my IT return form fill up (ITR-2), it is not showing any penalty ( u/s 234 B) on STCG tax ( tax value abt Rs 1100 from STCG). Pls suggest if I have to separately calculate the penaly @1% / month and pay the tax or I will pay only STCG Tax @15% wirh cess 3%. For Salary Income, my employer has already deducted the TDS.
@Sudip
You will have to compute penalty @ 1% per month and put it into PartB -TI-TTI under section 6.
Dear Pankaj,
As I have mentioned earlier the value of STCG is abt Rs 7000 for that Income Tax @15% is Rs 1050 & 3% cess is Rs 31.5 and the total Tax payable is Rs 1081.5 and u/s 208 of IT Act, advance tax shall be payable during a financial year if the tax value is more than Ten Thousand rupees. So , Shall my income from this STCG will qualify to pay the advance tax?
@Sudip
You are not liable to pay advance tax but are liable to pay self-assessment tax on the short term gains.
Hi Pankaj,
I purchased a flat in April '10, however i got the possession in April '11. My EMI deduction starter from May '10 and i was staying in a rental apartment until end March '11. Am I eligible for exemption on interest on housing loan May '10 until March '11 and house rent as well?
@Rajesh
Exemption for home loan interest and principal cannot be availed before possession of flat.
So for FY 2010-11, you can only get benefit for HRA.
Having said that, interest paid in the years before possession year can be claimed in five equal portions starting from possession year.
So lets say if your interest paid in year 2010-11 is 1 lac, you can add this (20,000) to claim in 5 years starting from 2011-12. But total limit will remain 1.5 lac for self-occupied house.
Hi Pankaj,
I work for a private company in chennai, My CTC is 3,24,000. My employer deducts 10.3% flat from my monthly salary as TDS. I am not sure of this calculation, can you please explain me how to calculate TDS.
@Neresh
In case you are not a regular employee or working as a consultant then in that case company can deduct flat 10.3% tax on all payments.
You can compute your tax liability using income tax calculator which can be downloaded from http://www.pankajbatra.com/india/income-tax-calculator-india-2008-2009-2010/