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 slabs Income tax rate
Income up to Rs. 2.50 lakhs Nil
Rs. 2.50 to Rs. 5 lakhs 10%
Rs.5 Lakhs to Rs. 10 Lakhs 20%
Rs. 10 lakhs above 30%

Rates for Individuals below 60 years below 80 Years

Income slabs Income tax rate
Income up to Rs. 3 lakhs Nil
Rs. 3 to Rs. 5 lakhs 10%
Rs.5 Lakhs to Rs. 10 Lakhs 20%
Rs. 10 lakhs above 30%

Rates for Individuals 80 years & above

Income slabs Income tax rate
Income up to Rs. 3 lakhs Nil
Rs. 3 to Rs. 5 lakhs Nil
Rs.5 Lakhs to Rs. 10 Lakhs 20%
Rs. 10 lakhs above 30%

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 2013-14 Income 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)

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13 responses to “Income tax Calculator for F.Y. 2015-16 A.Y. 2016-17”

  1. Surendra Kumar S says:

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

  2. SRINIVASARAO PANGULURI says:

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

  3. Tarun says:

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

  4. Sudip says:

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

  5. Sudip says:

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

  6. pankaj gaikwad says:

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

  7. shantanu says:

    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

  8. Amulya kymar sardar says:

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

  9. raju says:

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

    • Rahul kadam says:

      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.

  10. raju says:

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

  11. charu says:

    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

  12. Kanna says:

    Kindly Change the Income Tax Slab as Rates for Individuals (mention you) B/w 60 Years & Below 80 Years instead of below 60 years below 80 Years ( F.Y – 2015 -2016)- Income Tax Calculator

  13. Dhananjay says:

    Please check the cell no:N”75″.As per U/S 80CCD(2)the employers contribution toward NPS( upto 10% of basic+grade Pay+DA)would be allowed as deduction.
    In my case:
    My own contribution in NPS is:77527/ – (10% of salary)
    Employers contribution is also:77527/- (10% of salary)
    My other savings are :145914/-

    Your calculator gives me deductions under chapter-VI as below:
    U/S:80C ——->150000/
    U/S:80CCD 1(b)—–>50000/
    U/S:80CCD(2)——->35400/(Whereas in this section an amount of Rs77527/-is deductible)

    Please clarify my doubt.I’m also DDO of a govt department and responsible to deduct the tax of my colleges.

  14. CHANNABASAPPA G B says:

    How much deduction for physically disabled persons

  15. manmohan singh says:

    income tax Calculator for F.Y. 2015-16 required for govt employee in NPS system and GPF system.

  16. manmohan singh says:

    required incometax calculator in excel format for govt employee of NPS system and gpf system

  17. Binod Dwivedi says:

    computation of income on salary software required in excel format.

  18. Manoj Pal says:

    Please share the declaration sheet passward

  19. LAXMIKANTH R says:

    please correct in tax structure for individuals – rates for individuals above 60 years and below 80 years

  20. Banamali Das says:

    Salary Computation F Y 2015-16 A Y 2016-17

  21. punidhavelu says:

    Please send me income tax calculator in excel please for individuals govt employees

  22. Benny Thadathil says:

    Dear All,

    I hope the revised version is helpful, with the feedbacks shared so far. DO let me know if still any observations.- bennythadathil@gmail.com

  23. rao abdul kadir says:

    hiiii my mnthly salery is rs 25000/month nd i have also recieve many allowances soo plz tell me that how i calculate tds on my salery

  24. vijay says:

    dear sir
    mene apni return upload krni hai to muje kon sa form submitted krna hoga? company me job krta hu to salary milti hai.

  25. Sourindranath Mondal says:

    Sir,
    I have retired from my service at the age of 60 on 31st.January 2015. Am I entitled to avail Senior citizen benefit for the financial year 2014-15.

  26. SANDEEP JANWALKAR says:

    SIR,
    WHAT ABOUT REBATE U/S 87A FOR FY. 2015-2016

  27. SANDEEP JANWALKAR says:

    WHAT ABOUT REBATE U/S 87A FOR TAXABLE INCOME LESS THAN RS. 500000/- FOR F.Y 2015-16 (A.Y. 2016-17). WHETHER IT IS THERE OR NOT.
    PLEASE REPLY

  28. SANDEEP JANWALKAR says:

    what about rebate u/s 87a for taxable income less than rs. 500000/- for f.y. 2015-16 (a.y.2016-17)
    sandeep janwalkar

  29. computation chart 16-17 says:

    I need computation chart for 2015-16 to deduct TDS for our employees hence help how to down load.

  30. SHYAM says:

    What is the minimum salary which TDS applicable.

  31. Pradeep says:

    The Special allowance field is ËRROR – please correct the same.

  32. POLLY PAKRASHI says:

    IF SALARIED PERSON 220000 X 12 = 2640000/-

    WHAT WILL BE THE MONTHLY TDS DEDUCTED

  33. pankaj says:

    This sheet doesn’t have option of DOJ, if you could add the same for calculation will make it full proof.

    since, current version doesn’t help to calculate salary for current FY in the absence of this field.

    Also adding dept. name as drop down window (open for change), will help most of the HR professionals.

  34. swathi says:

    i am from accounts background, now i need to look after in HR also. please help me one of Employee Gross salary is 75000/- Per Month April i paid full salary Without deductions but my boss told me to deducted tds from this month. as per above 2.5 lacs exemption is their. After paying April salary still 175000/- exemption is their.

  35. Sachin Acharya says:

    In Income Tax Calculator for FY 2015-16 sheet there is some problem in Row No.10, It is Showing Salary from April 2014 to March 2015 and we cannnot edit the same as the same is protected cell , hence requesting for Modification

    As the file is actually for Financia Year 2015-2016

  36. Subrahmanyam says:

    Basic exemption in case of Super Senior citizens is 5 Lacs it is mentioned here as 3 lacs only..

  37. TAHERA BEGUM says:

    My salary per month 60000, 12 months 720000 which deduction tds amount every month please give me details ( no pf no esi)

  38. Sanju says:

    Thanks taxguru team provides us information

  39. A S Bisht says:

    In income tax Calculator for F.Y. 2015-16 there still mention SALARY FROM APRIL 2014 TO MARCH 2015 instead of April 2015 to March 2016 please correct

  40. A S Bisht says:

    In income tax Calculator for F.Y. 2015-16 there still mention SALARY FROM APRIL 2014 TO MARCH 2015 instead of April 2015 to March 2016

  41. Mervin says:

    Hi,

    I have downloaded the Excel income tax calculator for the Financial Year 2015-2016. In that, where can I input ULIP investment? am not able to find it. Please help.

  42. Kanna says:

    Thanks to Taxguru team… I was wrongly inserted that msg, its a very prefect file and its working perfectly. thanks once again

  43. Kanna says:

    Thanks to Taxguru team, its really a good one, but i’m also facing the same problem which Vasantha having, So please let us know once the problem got rectified. Thanks once again.

  44. raj chawla says:

    I above attached sheet, Pension scheme fund should be deducted from taxable income where as it is given a same calculation as 2014-15.

  45. SHAILESH says:

    In income tax Calculator for F.Y. 2015-16 there still mention SALARY FROM APRIL 2014 TO MARCH 2015 instead of April 2015 to March 2016

  46. VASANTHA SUVARNA says:

    In Income Tax Calculator for FY 2015-16 sheet there is some problem in cell no.E49 i.e LTA/LTC. Its not giving to enter amount more than 15000 rupees. Please let me know if rectified.

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