Income tax Calculator for Financial Year 2015-16 Assessment Year 2016-17 in Excel Format

Attached is the Income tax calculator with flexi allocation kit for the FY 2015-2016.

Simple income tax calculator cum flexi allocation kit, for the use of salaried employees of govt and private sector, basis the latest budget proposals.

Tax slabs;

Rates for Individuals below 60 years

Income slabsIncome tax rate
Income up to Rs. 2.50 lakhsNil
Rs. 2.50 to Rs. 5 lakhs10%
Rs.5 Lakhs to Rs. 10 Lakhs20%
Rs. 10 lakhs above30%

Rates for Individuals below 60 years below 80 Years

Income slabsIncome tax rate
Income up to Rs. 3 lakhsNil
Rs. 3 to Rs. 5 lakhs10%
Rs.5 Lakhs to Rs. 10 Lakhs20%
Rs. 10 lakhs above30%

Rates for Individuals 80 years & above

Income slabsIncome tax rate
Income up to Rs. 3 lakhsNil
Rs. 3 to Rs. 5 lakhsNil
Rs.5 Lakhs to Rs. 10 Lakhs20%
Rs. 10 lakhs above30%

Surcharge of 12% on Income tax those taxable income exceeds Rs.1.00 crore will apply.

Education cess will apply 3% on the Income tax & Surcharge will apply for all.

Section 80C gives deduction for various savings schemes upto Rs. 1.50 lakhs  and additional deduction of Rs.50,000 towards investment in NPS under 80CCD (1b).

Click here to Download Income tax Calculator for F.Y. 2015-16 A.Y. 2016-17

 ALSO READ
S.NO.INCOME TAX SLAB
INCOME TAX CALCULATORS
1.Income Tax Slabs for FY 2016-17 / AY 2017-18
2.Income Tax Slab for FY 2015-16 AY 2016-17
3.Income Tax Slab for FY 2014-15 AY 2015-16
4.
5. Income tax Slab for FY 2012-13 / AY 2013-14Income Tax Calculator FY 2012-13 / AY 2013-14
6.Income tax calculator for FY 2006-07 to FY 2016-17
7.Income Tax Slab Rates from AY 1992-93 to AY 2015-16

(Republished with amendments)

Posted Under

Category : Income Tax (20858)
Type : Articles (10773) Featured (3626)
  • charu

    Hi, I am getting 4,80,000 in hand as my annual salary and i am investing 25000 per year towards my life insurance and depositing 1,00,000 in ppf and 12,000 in post office . do i need to invest any more for saving taxes

  • raju

    Which have to be rounded for tax calculation is it Taxable income or Tax Amt

  • raju

    Which have tobe rounded for tax calculation is it, taxable income or tax amount

    • Rahul kadam

      both have to be rounded of to nearest ten. as per sec 288A total taxable income must be rounded off to nearest ten and as per sec 288B tax liability must be rounded of to nearest ten.

  • Amulya kymar sardar

    is it true Rs.10000/-intt on SB a/c will be out right deductable from total interest on deposits?

    • Vijay Patil

      yes, u/s 80TTA

  • shantanu

    Sir my company has given HRA for 3 months only whereas i paid rent for 10 months.Form 16 says HRA 3 months.Can i claim HRA for remaining amount while submitting tax

  • pankaj gaikwad

    on which amount the tax is getting calculated net take home or CTC

  • Sudip

    What is the password to open this xls file? Please help me out.

  • Sudip

    This xls file requires a password to open. Please send the password.

  • Tarun

    i agree this income tax for fainancial year..income taxI hope it reaches your targetted audience. all the best thank you.

  • SRINIVASARAO PANGULURI

    Sir dhanunjay where are you working. Mine is also same case. Covered under NPS, working as ddo. I too have same doubt.

  • Surendra Kumar S

    You need to change the wording of 2nd Slab, It should be as Under:
    Rates for Individuals above 60 years below 80 years