Wednesday, 30 March 2016

Income tax Calculator for F.Y. 2015-16 A.Y. 2016-17

Income tax Calculator for Financial Year 2015-16 Assessment Year 2016-17 in Excel Format

S.NO.INCOME TAX SLABINCOME TAX CALCULATORS
1.Income Tax Slabs for FY 2016-17 / AY 2017-18
2.Income Tax Slab for FY 2015-16 AY 2016-17
3.Income Tax Slab for FY 2014-15 AY 2015-16
4.
5. Income tax Slab for FY 2012-13 / AY 2013-14Income Tax Calculator FY 2012-13 / AY 2013-14
6.Income tax calculator for FY 2006-07 to FY 2016-17
7.Income Tax Slab Rates from AY 1992-93 to AY 2015-16

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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 slabsIncome tax rate
Income up to Rs. 2.50 lakhsNil
Rs. 2.50 to Rs. 5 lakhs10%
Rs.5 Lakhs to Rs. 10 Lakhs20%
Rs. 10 lakhs above30%
Rates for Individuals below 60 years below 80 Years
Income slabsIncome tax rate
Income up to Rs. 3 lakhsNil
Rs. 3 to Rs. 5 lakhs10%
Rs.5 Lakhs to Rs. 10 Lakhs20%
Rs. 10 lakhs above30%
Rates for Individuals 80 years & above
Income slabsIncome tax rate
Income up to Rs. 3 lakhsNil
Rs. 3 to Rs. 5 lakhsNil
Rs.5 Lakhs to Rs. 10 Lakhs20%
Rs. 10 lakhs above30%
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).

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