salary income tax calculator excel sheet free download

To set a personal budget and validate the best practices refer Personal Budget Calculator Refer tax saving options and the potential return on investments to know more.

Treatment of specified diseases (80DDB).

Deduction in respect of maintenance including medical treatment of a dependent disabled (80DD & 80U).

Interest paid on Electric Vehicle Loan (80EEB).

House Rent paid by Self-employed or Salary with no HRA (80GG).

Below are most common ways to save on taxes

It's staggering 70% of all the ITRs filed could save on tax if the taxpayer takes little time to analyse and invest. Recent statistics on the efiled ITRs show that there is a plenty of room to improve majority of the income tax profiles. Refer Difference between Old Tax Regime and New Tax RegimeĪlso refer Old vs New Tax Regime | Explained for Salaried & Business Tax Payers

New Budget 2023 announced on Feb 1st 2023 introduced new tax slabs for new IT Regime to make it attractive.

Once calculated, one can take a print of the result for further use.īudget for FY 2020-21 announced on Feb 1st 2020 introduced a new IT Regime where lower tax rates applicable for those who forego exemptions, deductions, & reliefs This Calculator considers financial year, age group such as Normal, Senior, Super Senior citizens, residential status such as Resident or NRI, Tax payer status such as Individual or HUF, and most important factor of net taxable income and the result will give you Net Tax, rebate, cess, and other information. Updated with latest tax rates from Budget 2022Ĭalculator provides comparison between Old and New Tax regimes / laws for FY 2022-23, useful to know income tax amount to be paid, to provide IT declaration to your employer. Use for Tax Computation, IT or Investment Declaration with your employer. Calculate income tax for an individual or HUF based on the given total income and deductions.

Salary income tax calculator excel sheet free download