Saturday, 7 April 2018

Auto Income Tax Calculator for FY 2018-19 (AY 2019-20)


Auto Income Tax Calculator for Financial Year- 2018-19 / Assessment Year 2019-20 in Excel Format after considering the amendment in Tax Rates, Deductions and Rebates vide Finance act 2018-19.
Thanks a lot to motivate me to do something new & subscribe my original version calculator earlier.

Financial Year 2018-19 has started and all have to calculate that how much tax is payable in financial year 2018-19. This tool of Auto Income Tax Calculator for FY 2018-19 from Taxationseva will help you to calculate the income tax in very simple way with less time and fewer efforts. After calculate your tax liability you will be able to plan your tax saving accordingly.
There are no major changes in income tax for financial year 2018-19. Tax rates for Individual assesses are same as previous financial year 2017-18.


  •     The government has allowed a standard deduction of Rs. 40,000/- to all salaried tax payers but transport allowance of Rs. 19200/- and reimbursement of medical allowances Rs.15,000/- has been abolished.
  • ·   Education Cess has been replaced with Health & Education Cess and rate has been increased from 3% to 4%.
  • ·   Senior Citizens taxpayers are allowed  to avail
  1.      Deduction up to Rs 50,000/- per annum for medical insurance u/s 80D.
  2.      Deduction of interest income for Rs. 50,000 on deposits with banks and post offices. (The exemption has been increased from Rs. 10,000 to Rs. 50,000 with a new section of 80TTB).
  3.   3. Deduction u/s 80 DDB up to Rs.1 lakh (Limit u/s 80DDB, has been raised to Rs 1Lakh for amount paid for medical treatment of specified diseases).
Auto Income tax calculator is very simple and user friendly, also know all current applicable rules.  You can use calculator hyperlinks to clear and understand all related rules, Information with aspects. This version 13.0 of Auto Tax Calculator is designed for salaried people with a standard deduction of Rupees 40,000/- also calculating the surcharge and marginal relief for income over and above of Rs 50 lakh & 1 Crore.

Download Auto Income Tax Calculator for FY 2018-19 from Calculator & Form section

Saturday, 4 February 2017

Auto Income Tax Calculator Version 12 for FY 2017-18

 After budget 2017, there are many doubts in respect of Key changes in individual taxation which affects the individual tax liability. In news & social media they are writing that there is no tax on annual income of ₹3Lakh. People are taking that tax slab has change from ₹3L to 5l etc.
Actually there are only three new major changes for an individual in this Budget and new slabs are as follows.

1. Tax slab remain same but rate for tax slab of 2,50,000 to 5,00,000 has reduced from 10% to 5% and rest rates are same.
    Now new slabs are     
       For Individual Male/Female with age <60 Yrs         
                                           Up to ₹2,50,000 -   Nil
                               ₹ 2,50,000 to 5,00,000 -    5%
                              ₹ 5,00,000 to 10,00,000 -  20%
                                   ₹10,00,000 & above -   30%
    For senior. Citizen of above 60 Yrs & less than 80 Yrs
                                         ₹ Up to 3,00,000 -    Nil
                                  ₹3,00,000 to 5,00,00 -    5%
                                ₹5,00,000 to 10,00,000 - 20%
                                    ₹10,00,000 & above -   30%
2.  Rebate under section-87A - has been reduced from ₹ 5,000 to 2,500 and eligibility for rebate of Sec 87A has reduced for individual of total income of ₹3,50,000,( instead of ₹ 5,00,000)

3.  Surcharge @ 10% will be charge from income above ₹50 Lakh, up to ₹1 cr  & @ 15% for income above ₹1 Cr. 

You all have to how much tax is payable in financial year 2017-18. This tool of Auto Tax Calculator from Taxationseva will help you to calculate the income tax in very simple way with less time and fewer efforts. After calculate your tax liability you will be able to plan your tax saving accordingly.
As a ready reconer related informations are also hyper linked in simple calculator. So calculate your tax, TDS , Exemptions, Deductions etc and know the related rules.