Excel Income tax Calculator for FY 20

Fill only the Red-Highlighted field

(i) Gross Salary of Employee (ia + ib + ic)
(a) Salary as per section 17(1)

B1 (b) Value of perquisites as per section 17(2)

Salary /
Pension (c) Profits in lieu of salary as per section 17(3)
LESS :- Allowance to extent exempt u/s 10 like Travelling allowance, washing
allowance, Child education allowance etc.
Less: Standard deduction u/s 16(iv) - Flat Rs. 50,000 to all
Income Under the Head Salaries
Type of House Property Self Occupied / Let out
Rent Recived Total in FY, if 'Let Out'
B2 (After deducting 30%)
Less (Interest on Home Loan)
Income chargeable under the head ‘House Property’
B3 Income from other sources Like FD, Bond etc.
B4 Gross Total Income B1+B2+B3
Part C - Deductions and Taxable Total Incom
Deductions Description / Remarks

Less: Deductions U/s 80C (PF, LIC, SSY,

SCSS, NSC, KVP etc.)
Less: NPS / Atal PY Contribution U/s Maximum 150,000 can be claimed by
80CCD(1) - by Employee only combining both 80C + 80CCD(1)
Less: NPS Contribution U/s 80CCD(1B) - Maximum 50,000 can be claimed in addition
by Employee only to 150,000 above.
Less: NPS Contribution U/s 80CCD(2) - Maximum 10 % of 'Basic+DA' can be claimed
by Employer only annualy
Health premium - 25,000 for Individual and
Less: Deduction u/s 80D 50,000 including parents above 60
Total Deductions (C1)
Total Income B4 - C1
Part D - Computation of Tax Payable

INCOME TAX SALBS

Up to 2.5 Lakh
D1
D1 2.5 Lakh - 5 Lakh
5 Lakh - 7.5 Lakh
7.5 Lakh - 10 Lakh
10 Lakh - 12.5 Lakh
12.5 Lakh - 15 Lakh
more than 15 Lakh

Net Tax Payable

Education Cess 4%
Total Tax Payable

FINAL TAX Difference

tor for FY 20-21, AY 21-22
-Highlighted field
1,400,000 1,400,000
1,350,000 1,350,000

50000 50,000

0 0

CEA-I-IDA 10000 0
50,000 0
1,340,000 1,400,000

0
200,000
-200,000 1,400,000
0
1,140,000
axable Total Income
Invested /
Claimed
Expenditure

130,000
150,000

45,000

50000 50,000

75000 75,000 75,000

60000 50,000
325,000
815,000 1,325,000
of Tax Payable

Old Tax Rate Old Tax New Tax New Tax

(%) Amount (Rs.) Amount (Rs.) Rate (%)
0 0 0
 5 12,500 12,500 5
20 50,000 25,000 10
20 13,000 37,500 15
30 0 50,000 20
30 0 18,750 25
30 0 0 30

75,500 143,750
3,020 5,750
78,520 149,500

70,980