- grajan_k@yahoo.com
- | Income Tax - Downloads
- 18 Aug 2019
- 193,059 Views
- 96 comments

**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.

(We have updated calculator on 22.07.2019 )

Tags: Income Tax Calculator

- Suggest changes in Taxation- Govt to Industry/ Trade Associations
- Extension of Time For Annual General Meeting | Section 96 | Companies Act 2013
- Clarification on restriction in availment of input tax credit
- GSTR 3B is now a return under Section 39 of CGST Act w.e.f. 1st July, 2017- Retrospective Amendment
- AAR rejects application as same issue was already pending before another authority
- GST exempt on services of transportation of students and staff of college to and from college
- GST on Utility Vehicles, predominantly designed for transportation of goods
- No GST exemption on ‘Fitness Centre cum Gym’ items supplied to MPPGCL
- HC held incorporation of Company vitiated by fraud as Invalid
- Empanelment of officers for promotion to Principal CIT grade for Year 2019

- Workshop on GST Audit & Annual Return (Few Seats Left)
- Statutory and Tax Compliance Calendar for November 2019
- Book on ‘Complete GST Analysis– Nov 2019’- Buy Now
- Annual GST return made non-mandatory for small business…Should we file or not?
- GST – Another chance for claiming Transitional credit now
- Effective Remedy against Non Payment of Invoices by Customer
- CBIC clarifies on 20 Percent Restriction on ITC
- Reconciliation of GST Input Credit with 2A report- Is RCM a solution?
- Analysis of clarification on restriction on Input Tax Credit under GST
- ITC – mandatory reconciliation to Form GSTR-2A?

- Book on ‘Complete GST Analysis– Nov 2019’- Buy Now
- Workshop on GST Audit & Annual Return (Few Seats Left)
- Aadhaar allowed to be used instead of PAN in Income-tax Forms
- Statutory and Tax Compliance Calendar for November 2019
- Annual GST return made non-mandatory for small business…Should we file or not?
- Reconciliation of GST Input Credit with 2A report- Is RCM a solution?
- CBIC mandates quoting of DIN in all communications from 08.11.2019
- IGST exemption vis-à-vis pre-import condition
- Direct and Indirect Tax updates for October 2019
- GST Registration Cancellation & Revocation – Process

Please mail me Excel utility for TDS Calculation of bulk employees on my mail ID dktiwari1680@gmail.com

Pl. mail me the Income tax calculation excel sheet for 2019-20

pls share the Income tax calculation excel sheet for FY 2019-20 @ nazeersdr@gmail.com

Sir,

Please let us know the TDS calculation to pay for 2Q TDS of fy 2019-20.

Sarma

Sir,

Kindly send me TDS calculator for 2019-2020.

Thanks

Everybody is asking for xls file.

Please let us know how to get that?

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.

Dear sir

Please send me xls file

Thanks and regards

Jitendra Vichare

May You Please kindly share the Excel sheet for myself use?

Regards

Please forward the excel sheet

Please send the tax calculation excel sheet on kundannadkarni@gmail.com

Dear Sir ,

Kindly share the excel file to 1992uv@gmail.com

Sir, please mail me Income Tax calcultaion sheet for FY 2019-20 for office use

Hi, can you please send me income tax calculation sheet (wherein we put month on month figures) in excel format for FY 2019-20

Please send excel version of tax computation for FY 19-20 salaried person

Sir please send the Excel format for tax calculation for fy 19-20 thank you to sandeepsandy5196@gmail.com

Sir please send the Excel format for tax calculation for fy 19-20 thank you

Please send excel sheet

HI. Please share the excel forat of calculator to sravankumar.kumar2@gmail.com

Thank You

kindly send XL sheet for FY 2019-20

Please send me the calculator . Thanks.

pls send excel sheet

Please send excel version of tax computation for FY 19-20 salaried

Sent

Please send excel version of tax computation for FY 19-20 salaried

Kindly send me the sheet

Sir

Please mail me the excel utility.

project.jaci@gmail.com

Please send excel version of tax computation for FY 19-20 salaried person by email:

pappuranjeeta@gmail.com

Regards

Sir, Please send the Income tax calculation excel sheet for FY 2019-20

Pls share 19-20 tax calculation excel sheet for salaried to ajay.inr@gmail.com. Thanks.

Please send excel version of tax computation for 19-20 salaried person to ajay.inr@gmail.com

Thanks.

Please send excel version of tax computation for FY 19-20 salaried persons on my email.

Best regards

Require income tax calculator in excel format for FY 2019-20

Please send excel version of tax computation for 19-20 salaried person

Pl. mail me the Income tax calculation excel sheet for FY 2019-20

Sir, Please send the Income tax calculation excel sheet for FY 2019-20

Hi Please send Income tax calculation sheet for Fy 2019-20

Pl. mail me the Income tax calculation excel sheet for FY 2019-20

Hope you might have got it

Hello Mr. G Rajan

It would be great help if you can send me the excel sheet for FY 19-20.

Look forward to receive the sheet from you soon.

Regards

Rajeev

Dear Sir,

Please send excel version of tax computation for FY 19-20 salaried person

Regards

Sent. Pls confirm

You can download the latest version from this link also.

https://drive.google.com/drive/folders/1T-BfIgxNudtALodp8Xc-UbFTj-2XMyZc?usp=sharing

Regards,

Govind

hello

please share the excel sheet for FY2019-20

thanks in advance

Sir

Pls mail me the Income Tax Calculator for the FY 2019 – 20 in my mail id debasish.behera4678@gmail.com

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

Standard deduction is available only for Income from Salary.

If you are getting pension from your Ex Employer (Govt employees) then this is allowed.

No for any other sources of Income.

Your email id is not appearing here. email to send the excel tax calculator.

Please send me the tax calculator Excel file

pls. send the salaries TDS calculator for A.Y. 20-21 on my email id Raviteja.konda@gmail.com

pls. send the income tax calculator on for a.y. 20-21 on mail id gaurav@verto.in

pls. send the income tax calculator on fy 2019-20 to marines@aol.in

Dear Sir,

Please send email of income tax calculator excel sheet

Sent

Pl. mail me the Income tax calculation excel sheet for 2019-20

My email id is venkatesh@candeoinfotech.in

Sent

Pl. mail me the Income tax calculation excel sheet for 2019-20

Sent

Pl. mail me the Income tax calculation excel sheet for 2019-20

Sent

Please email me tax calculation sheet for F.Y. 19-20 to calculate TDS on Salary

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

I am not clear in reading your comment.

1. Income Amount ? and Date of Receipt ? = Is it Rs. 193507.00

2. Source of Income ? = Rs. 193507 is Commission from Insurance Company ie LIC ?

3. or Rs. 193507 receipt is the Maturity amount received from Insurance Company ? Is it a LIC Wealthplus policy / ULIP ?

4. TDS Amount as per 26AS ? = Rs. 1935.00 ?

5. New Policy (2018) Name ?, Premium Amount ? , Policy Amount ?

However,

– If 2 is Yes – You need to file ITR3 showing this under Income from Business. Since the Commission amount is more than Rs. 60000 , no adhoc deduction is available.

Presumptive taxation for businesses is covered under section 44AD is not applicable to Commission / LIC Agents. So You can’t choose ITR4

Please read this.

https://www.incometaxindia.gov.in/Communications/Circular/910110000000000549.htm

– If 3 is Yes –

These policy proceeds will be taxable in the hands of the insured in the following situations:

o As per section 10(10D) in case of a life insurance policy issued after 1.4.2003 but on or before 31.3.2012 if the premium payable in any year exceeds 20% of the actual sum assured, then the policy proceeds would be taxable in the hands of the insured. As per section 10(10D) read with explanation to Section 80C(3A), actual sum assured simply means the sum assured which is least in all the policy years and does not include any bonus amount which is to be received over and above the assured amount. This ‘actual sum assured’ shall also not include any premiums which are to be returned to the policyholder.

a) Any money received from a life insurance policy, where the premium is more than 10% of the sum assured is fully taxable under the head ‘income from other sources’

b) For Another Opinion : To treat as Long Term Capital Gain.Please refer

https://taxguru.in/income-tax/taxation-maturity-proceeds-lic-wealthplus-policy.html

However Please take opinion from a CA.

4. About TDS Amount:

As per Section 194DA, was inserted in the act on 1st October 2014 and is applicable on policy payments that are not exempted under the Sec 10 [10(D)]. As per the new section Insurance companies will deduct TDS while making the payments on such claims if the amount received is more than one lakh rupees.

1% TDS – If PAN is valid and available

20% TDS – If PAN is NOT valid and available

No TDS – If the Life Insurance Policy qualifies u/s 10 [10(D)]

https://www.incometaxindia.gov.in/Pages/faqs.aspx?k=FAQs%20on%20Salary%20Income

– Point 4 = You can deduct this TDS amount from your Tax payable amount.

– Point 5 = If Single Premium Policy ? =

As per the rule us u/s 80C, for a life insurance policy issued on or after April 1, 2012, if the premium paid exceeds 10 per cent of the sum assured, then the deduction (from the gross total income) will be available to the extent of 10 per cent of the sum assured and the premium paid in excess of this amount cannot be claimed as deduction u/s 80 C.

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

Purchase and sale should be through Recognised Stock Exchange.

Please read the notification in the link provided.

Your query :

1-Since it is an IPO Purchase – STT Payment is exempted

https://www.incometaxindia.gov.in/Lists/Press%20Releases/Attachments/608/PressRelease-Sec10-38-3-04-2017.pdf

2- Purchase during 2000 ie before 01.10.2004 :

Please read Page 2, Column 1, Para 2 = Extract of CBDT Notification given by pwc, which is very clear.

https://www.pwc.in/assets/pdfs/news-alert/2018/pwc_news_alert_12_october_2018_cbdt_issues_notifications_under_section_112a.pdf

and CBDT Notification No. 60 dt . 01.10.2018 which is very clear.

and notification is available

https://www.incometaxindia.gov.in/communications/notification/notification60_2018.pdf

3- LTCG exemption is available upto Rs. 1 lakhs. (However take experts opinion in this regard by showing them necessary documents)

4. Please show the exempted profit (Profit from 2001 to Jan 2018 and this Upto Rs. 1 lakhs) in ITR in Exempted Income for Reporting Purpose

You can save the CBDT Notifications for future reference.

Regards,

Govind

Sir,can you please share the tax calculator FY 19-20 and Tax declaration FY 19-20 excel for salaried.

Now the latest version v 19.02 is already uploded in this article.

You can download the same from this website itself.

Your email id is not appearing in your comment.

You can download the same from this website itself.

Your email id is not appearing in your comment.

I need your email id to send the Tax Calculator.

Please send excel version of tax computation for 19-20 salaried person on email caosmbi@gmail.com

Regards

Sent.

Kindly send me the Income tax calculator on kulwant_46@yahoo.com. Thanks.

–Kulwant Singh-

Sent

Hello sir Send excel sheet

Your email id ?

Dear Sir,

Please send excel version of tax computation for 19-20 salaried person.

with regards

Please download from this website

Now the latest version v 19.02 is already uploded in this article.

You can download the same from this website itself.

Dear Sir,

Please send excel version of tax computation for 19-20 salaried person.

ssprabhu.engg@gmail.com

Regards

Email Sent

KINDLY SEND ME EXCEL SHEET FOR TDS CALCULATION

Please send me the income tax calculator for salaried person.my email id niteshkumar.patel@gmail.com

Sent

mail me FY2019-20 tax calculator please

Dear Mr Govind,

Please send excel version of tax computation for 19-20 salaried person

Regards

Your email id is not appearing in this comment.

Please email to my email id.

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

pls. send the income tax calculator on

avinash@bla.co.in

Sent

please share income tax calculation FY 2019-20.

Please share IT calculator for FY 2019-20

Pl. mail me the Income tax calculation excel sheet for 2019-20

Please share the excel format for IT Computation for FY 201-2020

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

Thanks for your comment.

In Tax Sheet Col H – The width Can accommodate values more than Crore.

In Summary Sheet – The width can accommodate 99 lacs . Even that cell is for checking purpose only. It can be ignored. You can check the Diff amnt if any in Cell H63.

Pl. mail me the Income tax calculation excel sheet for FY 2019-20