Republished with revised Simple Version
Simple Income Tax Calculator for the Financial Year 2020-21 in Excel for Salaried Individuals.
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 Budget 2020 in this Excel Tool for Tax Calculation.
Features :
1. Mainly useful for the salaried Employees having income includes:
a . Income from Salary / Pension
b. Income from Interest (Other Sources). (Bifurcation w.r.t. Interest from Savings Bank Account, FD Interest etc.)
c. You can input Capital Gain on Shares, Dividend Income, TDS deducted by others etc
2. Separate sheet for each Source of Income
3. Calculate Taxable Income, Tax, etc for Old Regime.
4. Provision for Automatic calculation of deduction u/s 80 GG towards Rent Payment when HRA is not received.
5. Age is calculated (as per IT Act) automatically based on DOB.
6. Tax Provisions are considered where ever required w.r.t. Senior Citizen, Very Senior Citizen, Physically Handicapped, etc.
7. Detailed statements are provided for :
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.)
8. This File may be useful to the Employers having limited no. of employees to Calculate Monthly TDS for each Employee.
9. The Tables are structured in such a way that it will be easier to fill information in the Income Tax Return.
10. Print Preview by clicking a Button for commonly required statements.
11. Number Format, changed to Indian Number format, instead of Thousands, except for Negative Numbers.
12. Data Import facility is provided to import from the previous release of this Tax Calculator ie. So you don’t need to re enter all the data when the new version is released for Particular Financial Year Module.
You may contact me for any clarification in this Excel Tax Calculator at [email protected].
(Article was Originally Published on 29.05.2020 and republished with changes on 09th August 2021)
Author Bio
Please suggest how to print after feeding all the data because I clicked on the PRINTALL button, which shows some error in VBA Projects. Kindly guide me and can u share the computation of Income for ITR-1, ITR-2, and ITR-3 format in Excel?
please do mail [email protected]
Can you please send income tax calculator for salaried / commision ITR-1 to [email protected]
Please send me Income Tax Calculator with Form 16 .
Thanks
Hi,
Can you sent It calculation in excel to my mail [email protected]
Sir, please send 24q excel sheet for income tax calculation for salaried employees for the financial year 2021-22.
e-mail: [email protected]
can you send me income tax calculation excel sheet for sr. citizen who earns via pention ,dividentand intrest on FD.
can you send me income tax calculation excel sheet for sr. citizen who earns via pention ,dividentand intrest on FD.
Is income tax levied on military pensions,
Are there any rules for tax on military pension
100% pension of military personnel is taxable
Please clarify under which section[10(11) or 10(12)], the amount received from Public Provident Fund (PPF) on maturity can be shown as exempted income while filing ITR1.
Please send me income tax calculator for super senior citizen individual for FY 2020-2021 having interest income, dividend income based old tax regime.
I am receipt of House Rent Rs.22000=00 P.M. Whether it is liable for TDS deduction.
The person (not being an Individual or HUF) who is responsible for paying of rent is liable to deduct tax at source.
individuals and/or HUFs who are subject to tax audit are also under an obligation to deduct the tax at source.
TDS threshold for deduction of tax on rent is Rs 2,40,000 for the FY 2020-21.
Rate of TDS is 10%
As per Budget 2017, individual /HUF (not covered under tax audit) paying rent to a resident exceeding Rs.50,000 per month are also liable to deduct TDS @ 5%.
In your case
Any non individual is paying you rent then they need to deduct TDS @ 10% on rent.
Or individual who is not covered under tax audit, paying rent to you, then no TDS to be deducted by him.
HI,
Can you please share excel utility of IT calculator on my mail ID as given below for AY 2020-21 & AY 2021-22.
Mail ID – [email protected]
Thanks in advance
Md Khizer Alam
Plz share the excel to [email protected]
Dear sir,
I am a pensioner aged 62 yrs. Please send me Excel Sheet for the FY 2020-21. I have pension income, interest income, divided income, capital gain/loss in share trading.
Kindly arrange to send the salary income tax excel sheet calculator FY 20-21 please
[email protected]
SIR ,
I NEED INCOME TAX CALCULATER EXCEL SHEET PLZ HELP ME
Dear Sir
Kindly arrange to send the salary income tax excel sheet calculator FY 20-21 please
[email protected]
Pl. Send me the spreadsheet,
My (Senior Citizen) income essentially Bank interest, house rent, share trading..
Appreciate,
DVDs,
You can contact me.
Govind 9845770394
TAHNKS..VERY GOOD WORK..
Sir,
please send me the I.Tax calculator for FY 2020-21. I am aged 70, pensioner, with Bank interest and some amount by sale of ancestral agriculture property,
I have already sent an eMail to you.
You can download my latest Excel Tool for IT calculation from my Google Drive link which is available in my Excel file in “Instruction Sheet” to calculate Tax for your income except Capital Gain on sale of Agricultural land. For that you can consult any CA or Tax Consultant. You can contact me also.
Govind
9845770394
Hello Sir,
Please send income tax calculator financial year 2019-20 & 2020-21 excel for salaried
email id : [email protected]
You can contact me.
Govind
9845770394
Dear sir
Kindly arrange to send the salary income tax excel sheet calculator FY 20-21 please
am unable unprotect the worksheet, it is asking for password
ITD has published ITR 1 for AY 2021-22. But, for filing the tax return, it has not enabled the program. When we can expect enabling the software. Can you up date the same for my guidance.
sir,
income tax calculator financial year 2019-20 & 2020-21 excel for all heads
My income is from other sources & taxable income is within IT limits. Which ITR should be chosen to file the return
I have already sent an eMail to you.
Pls share the TDS excel sheet
Plz share the Excel sheet
Please share your excel sheet
Please share the excel sheet for income tax calculation for salaried employees for the financial year 2020-21.
Thanks
Hello Sir,
income tax calculator financial year 2019-20 & 2020-21 excel for salaried email [email protected]
VERY USEFUL TAX CALCULATION SHEET IN EXCEL FOR FY 202 – 21 BUT ONE COLUMN THAT IS I CANT ABLE TO UNDERSTAND WHERE TO FILL THE PROFESSIONAL TAX COLUMN THAT ONLY I CANT ABLE TO FILL BUT EVERYTHING IS VERY USEFUL TAX WORKING CREATION TO COMPARE NEW AND OLD REGIME THANK YOU FOR YOUR PRESENTATION
plz forward excel sheet of income tax calculation for fy 2020-2021
How can we download the tax calculator. You have already downloaded it seems. Guide me. I am trying, but it is not getting downloaded.
Hi sir, please send Income Tax Calculator for Financial Year 2020-21 for Individuals to email id [email protected].
Can you please share the excel sheet for income tax calculation for salaried employees for the financial year 2020-21.
[email protected]
Can you please share the excel sheet for income tax calculation for salaried employees for the financial year 2020-21.
Got a message that it is protected with a password and cannot open
Unable to open the excel sheet link. Pl send correct link.
Can you please share the excel sheet for income tax calculation for salaried employees for the financial year 2020-21.
Thank you
Dear sir, Please send income tax calculation excel sheet for the below mail id
[email protected]
Thanking you sir