Tax Calculator Excel Formula India

It is simple excel based calculator specially made for salaried people. This calculator is for people with a single home. The rate of tax of gst in india is yet to be finalized.

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Just copy and paste the below code to your webpage where you want to display this calculator.

Tax calculator excel formula india. Using this calculator you can calculate your income tax liability for fy 2018 19 ay 2019 20. Also read income tax return filing 20 common mistakes you should avoid. Disclaimer the above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. As for now the tax rate is predicted to be from 5 to 28.

You will not able to calculate hra from this calculator. To simplify this task here is income tax calculator for the financial year 2018 19. You will not able to calculate long term capital gain tax from this calculator. To make your tax calculations easier we have designed and provided an exclusive financial tool called income tax calculator india 2020 2021.

To calculate the income tax with the help of if function you have to prepare following sheet in excel. Select the cell you will place the calculated result at enter the formula vlookup c1 a5 d12 4 true c1 vlookup c1 a5 d12 1 true vlookup c1 a5 d12 3 true into it and press the enter key. Income tax calculator pankaj batra in finance government income tax india investment february 4 2019. Tax planning in the beginning of the financial year is always better instead of doing that at the end of the year in hurry.

Income tax calculation formula with if statement in excel. Download excel based income tax calculator tool which can be used for computing tax for income from salary pension house rent and capital gains. It is excel based calculator. You need microsoft excel to use this calculator.

Code to add this calci to your website. Standard deduction enhanced for salaried persons from 40 000 to 50 000 in fy 2019 20. Income tax calculator for the financial year 2019 20 for salaried individuals in india in excel. Calculate income tax for ay fy 2020 2021.

Information relates to the law prevailing in the year of publication as indicated viewers are advised to ascertain the correct position prevailing law before relying upon any document. This excel based income tax calculator can be used for computing income tax on income from salary pension gifts fixed deposit and bank interest house rent and capital gains short and long term gains. You can use this finance calculator to get reliable results on the financial year 2020 2021 calculations within the fractions of seconds. This will help the individual to plan their investments in advance and submit necessary documents to their employer in time.

Income tax calculation is one of the most complex tasks for the common man. In this condition you can apply the vlookup function to calculate the income tax for a certain income in excel.