Free excel Income Tax Calculator for FY 2022-23 (AY 2023-24) is available for free to download.
It calculates the Tax on income under below heads for individuals.
- Salary income
- Pension
- House Property
- Other Sources (Interest, Dividends etc.)
Click on below link / button to download the free excel income tax calculator for FY 2022-23.
Income Tax Slab for computation in Income Tax Calculator for FY 2022-23 is briefed below.
The new regime of taxation is introduced from FY 2020-21, which is optional to an Assessee.
In Option/alternative 1 (Old regime), the Tax on income arrives after all the eligible deductions.
Old Regime – Income Tax slabs for FY 2022-23 (AY 2023-24) |
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| General public (Age is less than 60 years) |
Senior Citizen (Age is between 60-80 years) |
Very Senior Citizen (Age is more than 80 years) |
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| 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 (in New regime), the Taxable income calculates without any deductions except for 80CCD (NPS) & rebate u/s 87A.
New Regime – Income Tax slabs for FY 2022-23 (AY 2023-24) |
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 allowed of ₹ 50,000 to Salaries person and also to Pensioners.
Rebate is maximum of ₹ 12,500/- for income up to ₹ 5,00,000 under section 87A.
Please click here to download the calculator FY 2021-22.
Please click here to go to the Income Tax site for all other information and filing of returns.
