blindopk.blogg.se

The first sheet contains a calculator as per the old tax regime, where deductions & exemptions are allowed. This calculator is divided into two parts. You can download the latest income tax calculator FY 2020-21 from the link given below. The option of switching from old to next tax slab and vice versa is not available if an individual or HUF have business income.Īlso Read – Income Tax Slab FY 2020-21 – Budget 2020-21 Review Download – Income Tax Calculator – FY 2019-20 Salaried people can exercise this option every year before filing the return of income.Īn employer should seek confirmation from the employee whether he/she is opting for new tax rate or continuing under old tax rates. In case an individual or HUF opts for the new tax rate, certain exemptions, deductions and set-off of losses will not be available. New tax rates u/s 115BAC are as below: Income Tax Slab An option is provided to individuals and HUF taxpayers to opt for reducing tax rates as per new tax regime. The current slab rates, surcharge, and health, and education cess remains unchanged. This tax slab is applicable with effect from AY 2021-22. Income Tax Slabs for FY 2020-21 (AY 2021-22)Ī new Income Tax Slab Section 115BAC is announced in the budget 2020.

You can use this calculator for calculating your tax liability for FY 2020-21 (AY 2021-22).īefore downloading excel based income tax calculator let’s get acquainted with Latest Income Tax Slab for FY 2020-21 and Income Tax changes made in the Budget 2020. The calculator is made using simple excel formulas and functions.

To help taxpayers here is a simple excel based Income Tax Calculator for the financial year 2020-21 (AY 2021-22). Income Tax calculation is one of the complex tasks for the taxpayer. It will help you to make an informed decision to opt for a suitable tax structure.

You can calculate your tax liabilities as per old and new tax slab. This calculator is designed to work with both old and new tax slab rates released in the budget 2020. Download Income Tax Calculator FY 2020-21 (AY 2021-22) in Excel Format.