2 in 1 Auto Income Tax Calculator with Salary Statement for Financial Year (FY) 2020-21/ Assessment Year (AY) 2021-22 in Excel
Govt. has introduced a new tax regime 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. A circular issued by the CBDT that salaried employees to choose the regime at the time employers are deducting TDS. OR at the time for filing of ITR.
For your help an Auto tax Calculator for F.Y. -2020-21 is already available for download at taxguru.in. Which will help you to calculate and compare according to both regimes in very simple way with less time and fewer efforts and suggest you that which tax regime would be better option for financial year 2020-21 and plan accordingly.
In continuation of my Auto tax Calculator version 15.0 for F.Y.-2020-21. another tool of Auto Income tax calculator 2 in 1 Income Tax Calculator with Salary statement. In auto Tax calculator you had to input data directly in Calculator on annual basis. But in this 2 in 1 calculator you can calculate on actual received & accrual basis also you can prepare the salary statement. You will be able to customise the salary statement according to your institution salary structure. You can select allowances heads & deduction heads etc from drop down.
Now on the basis of your suitability & requirement. You can work on anyone calculator.
I hope you will like and share this creation. If you find any inconsistency please write. I will try to amend/rectify.
Download 2 in 1 Auto Income Tax calculator with Salary Statement for F.Y.-2020-21(A.Y.2020-21) in Excel