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, request you to post the same in the Tax Guru Web site.
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).
ALSO READ
No comments:
Post a Comment