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रविवार, फ़रवरी 26, 2017

Excel Download Income Tax Calculator for FY 2016-17

Calculate your Income Tax liabilities for FY 2016-17 using Excel based Income Tax calculator for accurate tax calculation. Download the Excel Utility of Income Tax calculator for AY 2017-18 from the below mention link.

This Income Tax calculator is easy to use with automatic calculation of HRA exemption and other deduction u/s 87A, 10A, 80C etc.

The various deduction column for consideration under section 80C are :

Deductions u/s 80 C  Investments in PF, PPF, Ins, ELSS, NPS etc
Deductions u/s 80 CCG Investments in RGESS (50% of First time Invest)
Deductions u/s 80 CCD Investments in NPS (50 K Maximum)
Deductions u/s 80 D Medical Insurance Premium (Self, Parents)
Deductions u/s 80 G Eligible Donations upto specified percentage
Deductions u/s 80 E Interest Paid on Education Loan
Deductions u/s 80 TTA Interest Received on Savings Bank A/C
Tax Benefit u/s 24 Interest Paid On Home Loan (Max 2 L)

Deduction under Section 10

HRA Exemptions u/s 10 A

HRA Calculation below
Other Exemptions u/s 10 A Medical, Convenyance etc
Calculation of Tax under Slab

Income Tax Payee Type Male, Female, Sr. Citizen>60, Very Sr. Citizen>80 Input 
    2,50,000                                  2,50,000 0%
   5,00,000                                  2,14,102 10%
   10,00,000                                          -   20%
 10,00,000+                                           -   30%
Tax on Total Income    Output
Surcharge 15% on Tax if Income > Rs 1 Crore 15%
Tax with Surcharge  
Education Cess   3%
Tax with Cess  
Tax Credit Upto Rs. 5000 if Taxable Income < Rs. 5 lakhs

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