A
circular issued by the CBDT that salaried employees can chose between the Old
and New income-tax regime at the time employers are deducting TDS. OR at the
time for filing of ITR.
These regimes proposals have left many Question
Mark? among the taxpayers.
Which is suitable regime?
Whether new regime or Old
(existing) regime?
Should I continue with deductions of existing savings,
Investments & expenses according to existing regime or not? etc
Now
It is very difficult to taxpayers to choose suitable regime without calculate
the actual tax according to both
regimes provisions
Do
not panic- this Auto Income tax calculator tool from Taxationseva will
help you to calculate and compare according to both regimes in very simple way
with less time and fewer efforts and suggest you that which tax regime would be
better option for financial year 2020-21 and plan accordingly.
Significant
features of Auto Income Tax calculator for F.Y.-2020-21
v A simple easy to use tax Calculator for resident
individual, especially for salaried persons to calculate income tax in both
regimes.
v Once enter the amount in blank cells
other cells calculate data & tax automatically
v Tax calculation with both regimes
simultaneously on same sheet based on your income.
v Calculation for difference of tax
benefit between regimes.
v Suggestion to choose suitable regime.
v Calculation of - Income Tax, Income from
house property, Exemption/Deduction of Allowances and relief of 87A, 80EE/80EEA, 80EEB etc.
v Calculation of taxable Income at normal
rate, Net tax, rebates, Cess, Surcharge, Marginal relief (where applicable) and
balance tax payable/refundable.
v Know every latest information and
applicable rule of tax rates, deduction and exemption with a hipper linked
ready reckoner.
2 types of
calculator are available for download. 1st is Filled for your reference and 2nd
is Blank for your use.
I hope you will
like and share this creation. If you find any inconsistency please write. I
will try to amend/rectify.
Download Auto Income Tax calculator 15.0 for F.Y. 2020-21
