Income tax Calculator for Financial Year 2015-16 Assessment Year 2016-17 in Excel Format
Attached is the Income tax calculator with flexi allocation kit for the FY 2015-2016.
Simple income tax calculator cum flexi allocation kit, for the use of salaried employees of govt and private sector, basis the latest budget proposals.
Tax slabs;
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 12% on Income tax those taxable income exceeds Rs.1.00 crore will apply.
Education cess will apply 3% on the Income tax & Surcharge will apply for all.
Section 80C gives deduction for various savings schemes upto Rs. 1.50 lakhs and additional deduction of Rs.50,000 towards investment in NPS under 80CCD (1b).
Click here to Download Income tax Calculator for F.Y. 2015-16 A.Y. 2016-17
Prepared by Benny Thadathil
(Republished with amendments)
Author Bio
You need to change the wording of 2nd Slab, It should be as Under:
Rates for Individuals above 60 years below 80 years
Sir dhanunjay where are you working. Mine is also same case. Covered under NPS, working as ddo. I too have same doubt.
i agree this income tax for fainancial year..income taxI hope it reaches your targetted audience. all the best thank you.
This xls file requires a password to open. Please send the password.
What is the password to open this xls file? Please help me out.
on which amount the tax is getting calculated net take home or CTC
Sir my company has given HRA for 3 months only whereas i paid rent for 10 months.Form 16 says HRA 3 months.Can i claim HRA for remaining amount while submitting tax
is it true Rs.10000/-intt on SB a/c will be out right deductable from total interest on deposits?
Which have tobe rounded for tax calculation is it, taxable income or tax amount
Which have to be rounded for tax calculation is it Taxable income or Tax Amt
Hi, I am getting 4,80,000 in hand as my annual salary and i am investing 25000 per year towards my life insurance and depositing 1,00,000 in ppf and 12,000 in post office . do i need to invest any more for saving taxes
Kindly Change the Income Tax Slab as Rates for Individuals (mention you) B/w 60 Years & Below 80 Years instead of below 60 years below 80 Years ( F.Y – 2015 -2016)- Income Tax Calculator
Please check the cell no:N”75″.As per U/S 80CCD(2)the employers contribution toward NPS( upto 10% of basic+grade Pay+DA)would be allowed as deduction.
In my case:
My own contribution in NPS is:77527/ – (10% of salary)
Employers contribution is also:77527/- (10% of salary)
My other savings are :145914/-
Your calculator gives me deductions under chapter-VI as below:
U/S:80C ——->150000/
U/S:80CCD 1(b)—–>50000/
U/S:80CCD(2)——->35400/(Whereas in this section an amount of Rs77527/-is deductible)
Please clarify my doubt.I’m also DDO of a govt department and responsible to deduct the tax of my colleges.
How much deduction for physically disabled persons
income tax Calculator for F.Y. 2015-16 required for govt employee in NPS system and GPF system.
required incometax calculator in excel format for govt employee of NPS system and gpf system
computation of income on salary software required in excel format.
Please share the declaration sheet passward
please correct in tax structure for individuals – rates for individuals above 60 years and below 80 years
Salary Computation F Y 2015-16 A Y 2016-17
Please send me income tax calculator in excel please for individuals govt employees
Dear All,
I hope the revised version is helpful, with the feedbacks shared so far. DO let me know if still any observations.- [email protected]
hiiii my mnthly salery is rs 25000/month nd i have also recieve many allowances soo plz tell me that how i calculate tds on my salery
dear sir
mene apni return upload krni hai to muje kon sa form submitted krna hoga? company me job krta hu to salary milti hai.
Sir,
I have retired from my service at the age of 60 on 31st.January 2015. Am I entitled to avail Senior citizen benefit for the financial year 2014-15.
SIR,
WHAT ABOUT REBATE U/S 87A FOR FY. 2015-2016
WHAT ABOUT REBATE U/S 87A FOR TAXABLE INCOME LESS THAN RS. 500000/- FOR F.Y 2015-16 (A.Y. 2016-17). WHETHER IT IS THERE OR NOT.
PLEASE REPLY
what about rebate u/s 87a for taxable income less than rs. 500000/- for f.y. 2015-16 (a.y.2016-17)
sandeep janwalkar
I need computation chart for 2015-16 to deduct TDS for our employees hence help how to down load.
What is the minimum salary which TDS applicable.
The Special allowance field is ËRROR – please correct the same.
IF SALARIED PERSON 220000 X 12 = 2640000/-
WHAT WILL BE THE MONTHLY TDS DEDUCTED
This sheet doesn’t have option of DOJ, if you could add the same for calculation will make it full proof.
since, current version doesn’t help to calculate salary for current FY in the absence of this field.
Also adding dept. name as drop down window (open for change), will help most of the HR professionals.
i am from accounts background, now i need to look after in HR also. please help me one of Employee Gross salary is 75000/- Per Month April i paid full salary Without deductions but my boss told me to deducted tds from this month. as per above 2.5 lacs exemption is their. After paying April salary still 175000/- exemption is their.
In Income Tax Calculator for FY 2015-16 sheet there is some problem in Row No.10, It is Showing Salary from April 2014 to March 2015 and we cannnot edit the same as the same is protected cell , hence requesting for Modification
As the file is actually for Financia Year 2015-2016
Basic exemption in case of Super Senior citizens is 5 Lacs it is mentioned here as 3 lacs only..
My salary per month 60000, 12 months 720000 which deduction tds amount every month please give me details ( no pf no esi)
Thanks taxguru team provides us information
In income tax Calculator for F.Y. 2015-16 there still mention SALARY FROM APRIL 2014 TO MARCH 2015 instead of April 2015 to March 2016 please correct
In income tax Calculator for F.Y. 2015-16 there still mention SALARY FROM APRIL 2014 TO MARCH 2015 instead of April 2015 to March 2016
Hi,
I have downloaded the Excel income tax calculator for the Financial Year 2015-2016. In that, where can I input ULIP investment? am not able to find it. Please help.
Thanks to Taxguru team… I was wrongly inserted that msg, its a very prefect file and its working perfectly. thanks once again
Thanks to Taxguru team, its really a good one, but i’m also facing the same problem which Vasantha having, So please let us know once the problem got rectified. Thanks once again.
I above attached sheet, Pension scheme fund should be deducted from taxable income where as it is given a same calculation as 2014-15.
In income tax Calculator for F.Y. 2015-16 there still mention SALARY FROM APRIL 2014 TO MARCH 2015 instead of April 2015 to March 2016
In Income Tax Calculator for FY 2015-16 sheet there is some problem in cell no.E49 i.e LTA/LTC. Its not giving to enter amount more than 15000 rupees. Please let me know if rectified.