The Income Tax Calculator for FY 2020-21 (AY 2021-22) is in Excel and is available Free for download.
It calculates Income from,
-
Salary
-
Pension
-
House Property
-
Other sources (Interest, Dividend, etc.)
Click below to download the Income tax calculator FY 2020-21 in excel free.
Income Tax Slab FY 2020-21 for Income Tax computation are briefed below.
The new regime of taxation is introduced which is optional to an Assessee.
In Option / alternative 1 (Old regime), the rates remain the same as of last year as below. And all the calculations are also the same as last year.
Old Regime – Income Tax slabs for FY 2020-21 (AY 2021-22) |
|||||||
| General public less than 60 years of Age |
Senior Citizen (60-80 years of Age) |
Very Senior Citizen more than 80 Years of Age |
|||||
| Income Slab | Rate | Income Slab | Rate | Income Slab | Rate | ||
| Up to ₹ 2.5 lakhs | Nil | Up to ₹ 3 lakhs | Nil | Up to ₹ 5 lakhs | Nil | ||
| ₹ 2.5 to 5 Lakhs | 5% | ₹ 3 to 5 Lakhs | 5% | – | – | ||
| ₹ 5 to 10 Lakhs | 20% | ₹ 5 to 10 Lakhs | 20% | ₹ 5 to 10 Lakhs | 20% | ||
| Above ₹ 10 lakhs | 30% | Above ₹ 10 lakhs | 30% | Above ₹ 10 lakhs | 30% | ||
In Option / alternative 2 (New regime), the rates are as below, but the calculations are without deductions except for 80CCD (New Pension Scheme) & rebate under section 87A.
New Regime – Income Tax slabs for FY 2020-21 (AY 2021-22) |
Rate |
| Up to ₹ 2,50,000 | Nil |
| ₹ 2,50,001 to 5,00,000 | 5% |
| ₹ 5,00,001 to 7,50,000 | 10% |
| ₹ 7,50,001 to 10,00,000 | 15% |
| ₹ 10,00,001 to 12,50,000 | 20% |
| ₹ 12,50,001 to 15,00,000 | 25% |
| Above ₹ 15,00,000 | 30% |
The Surcharge is as below.
| Total Income | Rate |
| Income is less than ₹ 50 Lakhs | Nil |
| ₹ 50 Lakhs to ₹ 1 Crore | 10% |
| ₹ 1 Crore to ₹ 2 Crores | 15% |
| ₹ 2 Crores to ₹ 5 Crores | 25% |
| ₹ 5 crores to ₹ 10 Crores | 37% |
| Income is exceeding ₹ 10 Crores | 37% |
Health and Education cess @ 4%
Standard Deduction of ₹ 50,000 to Salaries person as well as to Pensioners.
Rebate up to ₹ 12,500/- for income up to ₹ 5,00,000 under section 87A.
Income Tax slabs for both Male & females are the same.
For Income Tax Calculator for FY 2019-20 (AY 2020-21) click here to download in Excel for free.
For Interest calculation, FY 2019-20 (AY 2020-21) click here to download Excel for free.
Dear Sir,
Please Add a Column of Section 80EE Interest on Home Loan in Income Tax Calculator FY 20-21
It is updated.
THE REBATE ON ITR FOR 80DD – Medical Treatment of handicapped Dependent SHOWING IN CELL D116 IS NOT FUNCTIONING PLEASE LOOK INTO THE MATTER
It is rectified. Please download the current version.
Thanks
Cant able to select disability percent
Rectified. You can download it now.
Thanks
sir please send 10E table total calucation 2001 to 2021 in excal sheet. sir your ppst 2010 to 2018,but my calucation is 2012 to2021.please co-operative me send my e mail .table or 10e or calucation sheet.
It is updated. Please use the below link.
https://www.commerceangadi.com/relief-under-section-891-on-arrears-of-salary-fy-2020-21-excel-download/
Hi,
Thanks for making this sheet available for everyone. However, I wanted to add more rows to the “Other taxable allowances” since I’m a freelancer with multiple sources of income and don’t have a fixed salary as such. Currently, it doesn’t allow me to add rows on my own as the option to do that is greyed out. How can I do this?
Hi,
It is updated with additional rows.
Sir when we get Income Tax Calculator for F.Y. 2021/22 (A.Y. 2022/23) ?
I will be uploading it soon.
Thanks
It is published.
You can use it now.
Hello Admin,
When we will get the Income Tax Calculator sheet for the F.Y 2022-23 (A.Y-2023-24)?
Thanks
Very Soon.
Admin its already took so much time. Kindly upload it ASAP.
Thanks
It is updated now and below is the link.
https://www.commerceangadi.com/income-tax-calculator-for-fy-2022-23-ay-2023-24-free-excel-download/