Benny Thadathil
Salient features of the Simple tax calculator:-
Simple tax calculator for the use of salaried employees of govt and private sector.
Easy use of calculator– Key in the salary details and investment/tax saving details yellow colored cell to compute the tax.
All Sec 10 exemptions computes on updating the tax saving details based on the income tax criteria. Chapter VI deduction allowed for the salaried employee, which can be approved by employer included.
Sec 80EE– un-availed tax benefit of FY 2013-2014 can be carry forwarded to FY 2014-2015.
Employees who are not getting House rent allowance can claim deduction towards Rent payment u/s 80GG.
Full amount of Employer’s contribution to NPS is tax free, which will be added to income and deducted u/s 80CCD(2).
It allows the user to plan your net take home of every month, with very easy and simple steps, tax calculator is prepared in lines with major payroll vendors process.
This tax calculator can be used to calculate the approximate tax payable by salaried individuals. This should NOT be used to compute the actual taxes to be paid to the Government. The author is not responsible for any inaccuracies in the tax computed by this calculator. If you find any inconsistency, please let me know and I will try to fix it at the earliest.
Dear Sir, My gross salary is rs 507938. please explain my tax income for this finacial year
My pan no.AJXPA7488A my 2014-15 tds return has not sent by assessing officer. Please give more information
CALCULATOR IS WRONG. It is not taking the actual exemption value of Rs.3 lakhs for Senior citizens. Based on this even auditors are compelling us to pay the wrong additional income tax.
tax deducted on interest Rs. 3173/- deducted Rs 318/- by Karnataka bank, now where have to show this income? If i show in other income so i have to paid another Rs. 340/-
Could you please send me the current financial year 2015-16 (Apr’15 to Mar’16). its very useful to me plz…
Hi
The Income tax format is very good but i need the format FY 2015-16. Could you please send the current financial year format.
Dear Sir,
Request to please guide for income tax saving for FY-15-16.
I am salaries person and my CTC is 1200000.00 per year.
How i can save my max tax by using different tool.
Sir,
The total salary is 1800000 (18 Lakhs) what is tax calculation. If 2.5 Lakhs is exempted balance 15.5 Lakhs for tax calculation or pls calculate tax.
Thank you
Roshan Verma
Dear Sir,
My total annual income for the financial year ending on 31st March, 2015 is Rs. 667000/- and I have invested Rs. 136,000/- under 80 C. I appreciate to know My total taxe liability as on 31.03.2015. I have completed 60 Years on 10.02.2015.
I appreciate your response in this regard.
Thanks
Jayprakash
Please update the calculation sheet as per the assessment year 2015-16 as the savings is allowed upto to 150000 under 80 C
DEDUCTION FOR AY-2015-16 U/S.80C NOT UPDATED TO RS.150000/-
REBATE U/S 87 (FOR TAX LIABILITY UPTO RS.2000/- FOR HAVING GROSS INCOME NOT MORE THAN 5 LACS) IS REMOVED WEF AY-15-16
Sir ,
Please add my id for regular updates on taxation & other financial topics .
Regards ,
Sudhansu
This excel sheet is not updated with changes effected in Finanace Act through Interim budget
kindly update 80C Section under examption 1.5 lac for the F.Y.14-15
Respected Sir,
my gross salary rs. 20000(24000 x12) what would be my tax for the financial year 2014-15
Respected Sir,
my gross salary rs. 336000(28000 x12) and i have paid a premium in this current year rs. 14000/- what would be my tax for the financial year 2014-15
Respected Sir,
I would like to inform you that my gross salary Rs. 336000( 28000x 12)
and during this year I have paid LIC Premium Rs, 14000/- What would be my tax for the financial year 2014-15. Please suggest me immediately.
Pl update excel sheet as per new Tax slab and deduction. Now U/s 80C revised upto 1.5 lac.
The Excel Format is most elaborate & exhaustive.It would be very nice if explained with illustrations.(individuals only)
Sir,
Can you please update the Tax Calculater it still shows 1 lac limit under Sec 80c.
Sir,
Please provide the investment declaration form fy 2014-15 in excel.
If any body require any solution or suggestion regarding tax planing as per new Financial Budget introduced in July 2014, can contact on my Mob.9212433890 – See more at: https://taxguru.in/income-tax/income-tax-calculator-financial-year-201415-ay-201516.html#comment-1018673
If any body require any problems regarding tax planing as per new Financial Budget introduced in July 2014, can contact on my Mob.9212433890
sir please post me latest changes and ammendment in Act and Rules
How much new rebate 2.25lak or2.50lakh?
Sir,
will pay service tax for adsense earnings in india? In this budget any update about this. kindly reply or if you have any post about this give it.
regards
chandru
Good work here.
However, the worksheet is not accurate specially with respect to admissions under chapter VI. This needs to be corrected.
It would be better if notes can be attached to the calculated fields to have confidence on the calculated figures. The field itself can remain protected.
Let us know when the updated excel sheet is uploaded.
Please update this download file to reflect the latest budget i.e increased tax slabs, 80C, housing loan interest waiver etc.
Thanks
80C LIMIT WOULD BE150000 INSTEAD OF 100000
There is some correction required in post budget 2014-15 and this should anually basis and calculation formulla have to shown interms of tax slab
Very good format.
This calculator is nothing but edited version of Nithya income tax calculator. Nithyanand has been providing this calculation ( who is basically a tech person).