Download Income Tax Calculator FY 2014-15 / AY 2015-16

This downloadable Income Tax Calculator, calculate Tax on your Income for for Financial Year  2014-15 / Assessment Year  AY 2015-16 Automatically without any hassle. 

Simple tax calculator for the use of salaried employees of govt and private sector, basis the latest budget changes.

Latest updates:

Increase of Basic exemption limit:

Major expectation of increase in basic exemption limit has been given in the budget; the limit has been increased from Rs.2 lakhs to Rs. 2.50 lakhs for individuals except senior citizens and for senior citizens between 60 to 80 years has been increased from Rs. 2.50 lakhs to Rs. 3 lakhs. The revised income tax slabs are given below the table

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 10% on Income tax those taxable income exceeds Rs. 10 crore will apply.

Education cess will apply 3% on the Income tax & Surcharge will apply for all.

Increase in limit under section 80C:

Section 80C gives deduction for various savings schemes till now Rs. 1 lakhs has been enhanced to Rs. 1.50 lakhs .

Increase in housing interest deduction:

Existing limit of Rs.1.50 lakhs for self occupied property interest deduction has been enhanced to Rs. 2 lakhs.

Download Income Tax Calculator FY 2014-15 / AY 2015-16

 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

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65 responses to “Income Tax Calculator FY 2014-15 / AY 2015-16”

  1. MV Singh says:

    sir, my friend is a salary person, his advance tax deduct monthly automatically from salary, he is a armed forces personal below officers rank no one file return in this rank, he file return ay 2014_15,after that he not file return ay17_18,IT Dept compressing for filling return AY15_16 an their after, pl suggest how much penalty will paid @ by ind till date. regards

  2. Vijay Makhija says:

    Trying to download income tax calculator FY 2014-2015 / AY 2015-2016. Please help me to download or mail me on vijaymakhi@rediffmail.com

  3. Mukesh Varde says:

    Hi,
    I worked for one employer from Apr 2014 to July 2014, where no tax was deducted.
    I worked for another employer there after where the tax deducted was for income from second employer only.
    Now how can I calculate the tax and how I can pay the outstanding tax.
    Pls guide

  4. S.Lakshminarayanan says:

    Is there any concept of apportioning of Salary Income while calculating personal Income Tax as per IT Act,1961. If so, how this need to be worked out. Say, my annual salary is Rs.5Lacs. Rs.2.3lacs is the Arrear salary which was actually due for the FY 2012-13, now only received. Please help me to arrive at the tax liability assuming there is no chapter VI A deduction

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