New financial year 2019-20 Tax and TDS calculation has begun and
we have to calculate the Tax liability,Tax savings & TDS liability according to new
scenario.
Auto tax calculator version 14.0 for FY
2019-20 is available to help you up to 31 July 2019 for calculation
according to provision of Interim Budget 2019. Complete budget is expecting in June/July 2019. After formation
of the new government, more changes are likely to come in effect after complete
budget. New Auto Tax calculator will be modify accordingly.
Tax rates are not changed and remain same till final budget.
There are only 2 major changes which
will impact the tax liability of a person.
1. Standard deduction to all
salaried people ( including Pensioners) has risen to Rs. 50,000/- from Rs
40,000/-
2. A rebate u/s 87A up to 12500/-has risen to tax payers, who have
their total taxable Income (after Exemption and all Deduction) up to Rs.
5,00,000/-.
If total Income Increases even by Rs 10/- One will not get the
rebate and will be taxed on total Income.
Please give me your feedback about the contents you would like to add or
delete.
Download New Auto Tax Calculator for FY 2019-20