Income tax calculator in excel AY 2015-16 free download
Before you go and download free excel for Income Tax calculation , there are few important points to be considered for considering income tax calculation. Frankly the estimation of income tax is very simple and straight forward. You have have to know some basic fundamentals or rules when calculating income tax online or using excel sheet
Fundamentals of Indian Income Tax Calculation with Examples
- First you need to calculate the over all taxable income. Taxable income can be calculated by removing all your tax exemptions.
- Some of tax exempted income tax components are HRA ( House Rent Allowances )
- Deductions under Section 80C . Examples are , Children School fees , Principal component of house loan
- House Loan interest component deduction.
Once you reach to Taxable income , you can easily calculate the income tax based on Current income tax slabs for the Financial Year 2014-2015 and Assessment Year 2015-16.
Download Income Tax Calculator FY 2014-15 / AY 2015-16
Below are the Income Tax Slabs for FY 2014-15 AY 2015-16
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| Income Tax Slabs for FY 2014-15 |
Please refer the example below to know the income tax calculation.
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| Indian income Tax Calculation Example |
Full income tax Calculation online with out using Excel Sheet can be online by visiting official website of Indian income tax. http://law.incometaxindia.gov.in/DIT/Xtras/income_taxcalc.aspx#
Some of the steps below by which you can easily calculate the income online.
Step 1 : Assessment Year : 2015-2016
Step 2 : Tax Payer :Individual
Step 3 : Male / Female / Senior Citizen : Male
Step 4 : Residential Status : Resident
Step 5 : Net Taxable Income - Please mention you net salary if you are a salaried employee , Applicable for both Central / private and state governament employees as well
Please Enter below options accordingly
- YOUR TAX COMPUTATION :
- Income Tax
- Surcharge
- Education
- Secondary and higher education
- Total Tax Liability
Please use income tax calculation online to calculate the income tax .
Some Common Set of Questions on Income Tax Calculator:
- How i am calculate my Salary income tax?
- How to Calculate Exempted HRA?
- Download Income Tax Calculator FY 2014-15 / AY 2015-16
- income tax calculator for salaried employees ay 2015-16 in excel
- Government Employees, Taxation of Salaried Employees
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