Auto Income Tax Calculator -All in 1

Tax calculator, Salary statement, Computation sheet with Form-16 for F.Y. – 2020-21 (A.Y.-2021-22) in old & New Regime

Govt. has introduced a New tax regime (system) from F.Y.-2020-21 with a lower tax rate without any exemption/deduction. Also left an option for assesses to choose any one suitable regime between Old (existing) and New income-tax regime. TDS has been deducted in any one of the regimes. But now assesses has to choose the right regime at the time for filing of ITR.

For your help Auto tax Calculators for F.Y. -2020-21 is already available for download at which will help to calculate and compare according to both regimes in very simple way with less time and fewer efforts and suggest that which tax regime would be better option for financial year 2020-21. If more TDS has deducted due to wrong selection of tax regime. You will choose the right tax regime to claim the refund at the time to filing of ITR for AY-2021-22.

In continuation of My Auto tax Calculator version 15.0 & 15.1 for F.Y.-2020-21 another tool Auto Income tax calculator All in 1 Income Tax Calculator with Salary statement, form-16 and Tax computation is here. In this calculator you can customise and print the Salary statement & Form-16 according to your selected tax regime, you can see the calculation & computation of your Income Tax.

I hope you will like and share this creation. If you find any inconsistency please write at I will try to amend/rectify.

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  1. Kulwant Singh says:

    Sir, I am a Sr. Citizen. My pension after adding interest income etc is Rs. 480000/- and total LTCG is 80,000/-. As the LTCG is less than Rs. 1 Lakh, my understanding is that I have to calculate my Income Tax on Rs. 4,80,000/-. It will come to about 9360/-. Then taking 87A rebate, it will come to Nil. But an income tax practitioner friend says I cannot take 87A rebate as my total income will be inclusive of my LTCG, even if non-taxable i. e. it will be more than threshold of Rs. 5,00,000/-. Please advise.

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March 2024