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