Follow Us :

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

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Post by Date
March 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031