B.P. Choudhary

B.P. Choudhary

Auto Income Tax Calculator for Financial Year (FY) 2017-18 / Assessment Year (AY) 2018-19 in Excel Format after considering the proposed amendment in Tax Rates, Deductions and Rebates vide Union Budget 2017-18.

After budget 2017, there are many doubts in respect of changes in individual taxation which affects the individual tax liability. In news & social media they are writing that there is no tax on annual income of Rs. 3 Lakh. People are taking that tax slab has change from Rs. 3L to 5L etc.

Actually there are only three new key changes for an individual in this Budget and new slabs are as follows.

1. Tax slab remain same but rate for tax slab of 2,50,000 to 5,00,000 has reduced from 10% to 5% and rest rates are same.

Now new slabs are

For Individual Male/Female with age <60 Yrs         

Up to Rs. 2,50,000 –   Nil

Rs. 2,50,000 to 5,00,000 –    5%

Rs.  5,00,000 to 10,00,000 –  20%

Rs. 10,00,000 & above –   30%

 For senior. Citizen of above 60 Yrs & less than 80 Yrs

Rs.  Up to 3,00,000 –    Nil

Rs. 3,00,000 to 5,00,00 –    5%

Rs. 5,00,000 to 10,00,000 – 20%

Rs. 10,00,000 & above –   30%

2. Rebate under section-87A – has been reduced from Rs.  5,000 to 2,500 and eligibility for rebate of Sec 87A has reduced for individual of total income of Rs.3,50,000,( instead of Rs. 5,00,000)

3. Surcharge @ 10% will be charge from income above ₹50 Lakh, up to Rs. 1 cr  & @ 15% for income above Rs. 1 Cr.

You all have to how much tax is payable in financial year 2017-18. This tool of Income Tax Calculator for FY 2017-18 from Taxationseva will help you to calculate the income tax in very simple way with less time and fewer efforts. After calculate your tax liability you will be able to plan your tax saving accordingly.

This is an easy to use dual type of calculator “Software Calculator and Simple Excel Calculator” in same work book. Specially design for common people. User can use anyone or both as per their suitability. Simple calculator is hyperlinked with ready reckoner  consist information and Rules to clear and understand all related aspects.

Download Auto Income Tax Calculator for FY 2017-18 by B.P. Choudhary in Excel Format (Removed as it was Trial Version)

Download Income Tax Calculator for Financial Year 2017-18 by Benny Thadathil

Disclaimer-  We have made all efforts to make sure that it gives correct result to our readers but still they are requested to Confirm with respective Provisions of Income Tax Act, 1961 and we do not take any responsibility for any error in calculation due to reliance on the same.

Checkout the Computation of Income Tax Format in Excel for Individuals

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32 Comments

  1. SGH CHANDRA RAO says:

    SIR
    IN ITR-2
    AFTER FILLING SALARY ,HOUSE PROPERTY AND OTHER INCOME ,TAX TO BE SHOWN IN PART B TTI.BUT IT IS SHOWING ZERO.
    INTURN IT IS SHOWING PAID TAX AS REFUND AND SOME TIMES TOTALLING IS ALSO SHOWING WRONG.SINCE IT IS IN PROTECTED MODE WE ARE UNABLE TO DO ANY THING IN EXCEL UTILITY.EVEN SAME PROBLEM IN JAVA UTILIY ALSO.

  2. Snehi says:

    Even after creating an account , downloading access is denied , guess you are only gathering data creating ITR filing base, disappointing really.

    1. TG Team says:

      There was no file in this article which require login or registration. Please use caution while commenting. Comment without any basis are not appreciated and demotivates us.

  3. SK says:

    The cells in Excel sheet are very small. Please provide suitable tool to increase size of cells. It is very difficult to read or input in the cells.

  4. D SARATH KUMAR says:

    This excel utility suits me the most. I filed my IT with the help of this excel.
    This is so good that i can use it in my office for TDS deduction for the employees.

  5. Kanwaljit says:

    Hello Sir,

    I have one query. If someone
    –Receives Arrears of Salary for last 3 years
    –NPS on all arrears is deducted in the present year
    –NPS Employer contribution on all arrears is made in the present year.

    Now whether the NPS Employer contribution relating to previous years
    –will be added to the previous years income on accrual basis
    –will be claimed as exemption U/Sec 80CCD(2) in the previous years on accrual basis

    OR
    –will be added to the current years income only.
    –will be claimed as exemption U/Sec 80CCD(2) in the current years income only.

    Thanks

  6. KAILASH CHANDRA PANIGRAHI says:

    please send me income tax deduction rule 2017-18 in excel formate AND PLEASE PROVIDE AUTOMATIC TAX CALCULATOR FOR F.Y. 2016-17 ( A.Y. 2017-18)

  7. aslam khan says:

    pl send me tax deduction formulla as in most of the cases i feel people are commiting mistakes. suppose i have total income Rs 7 lakh, after deductions itvremains Rs 5 lakh 25 thousand. some people calculate tax by minus 250000 and rest 250000 are calculated tax @ 5% and on rest of amount of 25 thousand @ 20%. pl guide us whether the procedure it right or wrong, if wr
    ong give solution.

  8. Deepak Singh says:

    Dear Team Taxguru,

    when you upload incometax calculator for a.y. 2018-19, in excel format, as your previous format, Having monthly brearup .

    Regards
    Deepak Singh

  9. vasant sheth says:

    The same article has been posted by Tejas K Andhaaria
    on 13 th Feb.2017, which is as under:
    Income Tax Computation Utility for A. Y. 2018-19 (FY 2017-18)
    admin| Income Tax 13 Feb 2017 38,463 Views 12 comments Print Friendly and PDF

    CA. Tejas K. Andharia

    1. It Is An Easy To Use Tax Computing Program Designed By Ca. Tejas K. Andharia (Bhavnagar, Gujarat). Which Is Specifically Designed For Computing Tax On The Income Of Individuals And HUFs Only.(Excluding NRIs.)

    2. It Is Almost First Program With The Latest Provisions Of Budget-2017.

    3. Old Versions Of This Program Are Available, Beginning From Year 2006. If You Want Any Of The Old Versions, Then Contact On Below Mentioned E-Mail Id With Your Name, Address And Telephone No.

    4.First Of All, What You Have To Do Is To Enter The Command Ctrl+T And Select The “Options” From The Drop Down Menus One By One.

    5.Thereafter, Choosing The Appropriate Sheet Related With Your Source Of Income, Give Inputs To The Yellow Coloured Cells Only.

    6.Then, By Applying The Command Ctrl+K, You Can Directly Switch To The Final Sheet Of Tax Computation With Your Tax Liability.

    7.You Can See The Print Preview Of Any Sheet By Command Ctrl+P.

    8.At Any Time, While Using This Program, You Can Come Back To This Sheet With Applying The Command Ctrl+H.

    9. I Don’t Bear Any Responsibility Regarding Anything Contained In This Program. This Is Only The Preliminary Tax Calculator.

    Download Income Tax Computation Utility for A. Y. 2018-19 (FY 2017-18)

    (CA. Tejas K. Andharia -B. COM, F.C.A., D.I.S.A.(ICAI), D.I.R.M.(ICAI), Bhavnagar, Gujarat, tejasinvites@gmail.com)

    – See more at: https://taxguru.in/income-tax/income-tax-computation-utility-201819-fy-201718.html#sthash.Fbv7neZf.dpuf
    N.B : I am already a subscriber.But when I click U put abox for subscription, which is annoying.

  10. BIBECHITA SARANGI says:

    PLEASE MAKE ME CONFIRM IS MEDICAL ALLOWANCE ( PAID WITH MONTHLY SALARY ) , NOT MEDICAL REIMBURSEMENTALLOWANCE EXEMPTED FROM INCOME LIKE HRA & CONVEYANCE ALLOWANCEWHILE TAX CALCULATION ?? PLEASE PROVIDE AUTOMATIC TAX CALCULATOR FOR F.Y. 2016-17 ( A.Y. 2017-18)

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