Income Tax Calculator for the Financial Year 2019-20 for Salaried Individuals  in India in Excel.

Tax Planning in the beginning of the Financial Year is always better instead of doing that at the end of the year in hurry. This will help the Individual to plan their Investments in advance and submit necessary documents to their Employer in time.

I am a CA Inter Completed, Experience in Private Sector as a Head of Finance.

I have considered the Interim Budget 2019 Proposals in this Excel Tool for Tax Calculation.

Features :

1. Mainly useful for the salaried Employees having income includes:

a . Income from Salary

b.  Income from House Property (Self Occupied and Rented out)

c.  Income from Capital Gain on (eligible) Sale of Shares and Equity oriented Mutual Funds where STT is paid.

d.  Income from Interest (Other Sources). (Bifurcation w.r.t. Interest from Savings Bank Account, FD Interest etc.)

2. Separate sheet for each Source of Income

3. Calculate Taxable Income, Tax, Surcharge and Cess.

4. Salary Particulars can be given on monthly basis. Flexible Allowance and user defined heads of allowance are incorporated.

5. Calculation of Accrued Interest on NSC in neat tabular form.

6. Provision for Automatic calculation of deduction u/s 80 GG towards Rent Payment when HRA is not received.

7. Age is calculated (as per IT Act) automatically based on DOB.

8. Tax Provisions are considered where ever required w.r.t. Senior Citizen, Very Senior Citizen, Physically Handicapped, etc.

9. Section wise Tax Rules for Reference Purpose are provided;

a. Income Tax Slab

b. Tab Rebate

c. Exempted Income u/s 10 & Standard deduction u/s 16

d. Deductions under Chapter VI A (Sec 80 C, 80 CCC, 80 CCD, 80 D, 80 U, 80 TTA , TTB etc.)

10. This File may be useful to the Employers having limited no. of employees to Calculate Monthly TDS for each Employee, Gross Salary / Amount Paid to be shown in Quarterly  24Q eTDS Purpose etc.

11. The Tables are structured in such a way that it will be easier to fill information in the Income Tax Return.

12. Print Preview by clicking a Button for commonly required statements.

13. Number Format, changed to Indian Number format,  instead of  Thousands, except for Negative Numbers.

14. Data Import facility is provided to import from the previous release of this Tax Calculator ie. from v 19.01 and 19.02. So you don’t need to re enter all the data when the new version is released for Particular Financial Year Module.

15. Included Notes and FAQ for better understanding. Like Gift to Minor Child and Spouse, Topics on Capital Gain, etc

You may contact me for any clarification in this Excel Tax Calculator.

Also Read- Bulk Data Income Tax Calculator for Multiple Employees for Financial Year 2019-20 / Assessment Year 2020-21 and Bulk TDS Calculation (Salary) in Excel

Don’t forget to check income tax calculator for ay 2020.

(Republished with amendments)

Access Denied! Only Regstered Users Can Download The File "Income Tax Calculator for FY 2019-20 in Excel for Salaried Individual in India". Register Here or Login

Author Bio

More Under Income Tax

207 Comments

  1. SANDEEP KUMAR PANDIT says:

    the last date of filling itr for fy 2019-20 is 30 november 20 but when i file itr it calculates interest in 234/235 section why?

  2. harjeet singh sodhi says:

    Please send me income tax calculation excel sheet financial year 2019_20 assessment year 2020-21
    Harjeet singh sodhi user ID 91585
    24.6.2020

  3. SREEM SERBA TURBINES PVT. LTD says:

    Dear Sir,

    Pl. mail me the individual tax calculator for the year 20-21 AY 21-21.

    ACCOUNTANT
    SAROJ KUMAR
    SREEM SERBA TURBINES PVT. LTD.

  4. S.VENKATARAMANA says:

    sir, I am the 14000/-per month salary based employee i need income tax returns for the year 2019-20 for house loan please send the software

  5. Ashok MB says:

    Plz mail me IT calculation sheets in Excel. I am retired and have income from House Rent, pension and interest from Bank deposits. TIA

  6. Sonu gupta says:

    I m a salaried employee. I saved 1.5lac in ppf. Can I get additional tax benefit on the amount of 50000 under section 80ccd1(b) which was contributed in cpf from my side.

  7. Vikrant Raghuvanshi says:

    Dear sir ,
    Please email the TDS calcutor for f.y 2019-20 ( multiple employees).
    TDS calcutor for f.y 2020-21 ( multiple employees).
    Thanks
    Vikrant

  8. Bharat patel says:

    Please send excel format the income tax calculator for salaried person F.Y. 2019-20 & excel format for IT Computation for FY 2019-2020

  9. Rahul Mitra says:

    Please mail me the Income tax calculation excel sheet for FY 2019-20 based on the post budget slab. Expecting the excel to have all the formulaes to calculate TDS for salaried person.

  10. KRISHNAMOORTHY says:

    Is additional deduction of rs50000 allowed for an individual who are s not employed but having other sources of income like rent int on FD etc
    2 pl send your excel sheet

  11. VIPAN KUMAR VERMA says:

    kindly send me to excel sheet for filling itr-1 also TDS was deducted on lic single premium policy TDS deducted 1% purchased for rs one lac on May 2011 &
    repurchased on Oct 2018 with TDS rs 1935 total credited in 26AS Rs.193507/- for the income from lic 2018 & TDS Rs.1935/- net credited to my a/c.which income is exempted i.e. premium paid at the time of purchase price rs one lac & which ITR I shall file

  12. rajkumar gupta says:

    CAPITAL GAIN :: If equity share allotted by company against issue in 2000-01 and. No STT payable on company issued & allotment. And share sold through reco exchange in 2019-20 and paid STT. Can we avail Rs. 1 lac exemption of LTCG. We calculate purchase rate on 31.1.2018 and sold rate actual on sale date

  13. New version of this Tax Calculator is available now.
    Any one wants please mail me. I will send that Excel file to you.
    Revision Changes:

    No change in Tax Calculation. (Except for addition made for Transport allowance for Blind)
    No change in Input Data Ranges.
    Change in Font.
    Number Format changed to Indian Number format, Instead of Thousands, except in Negative Numbers..
    Minor changes in Sheet “Summary of IncomeFromSalary” . Added Two Rows
    Few Notes Added in “Instruction” Sheet

    Regards,
    Govind

  14. lourdes369 says:

    Could you please realign the columns H & I in “Summary of incomefromsalary” sheet & Column H in “Tax ” sheet? The width needs to be increased.

Leave a Comment

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

Search Posts by Date

May 2021
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31