Checkout Income tax calculator (in Excel) and easily calculate your taxes and pay them on time.
Being a common man,calculating your own taxes seems to be a tedious task.Nothing to worry,we are here to help you and simplify things for you .
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Click to download Your Income Tax Calculator in Excel form
Tax Calculator for FY 2015-16
Tax-Calculator for FY 2016-17
As per the Union Budget 2016 ,there has been no change in the Income tax slabs for FY 2016-17.They are the same as FY 2015-16.The two major changes that should be considered while computing the tax liability are :
| Particulars | Financial Year 2015-16 | Financial Year 2016-17 | ||
|---|---|---|---|---|
| Change in Surcharge | Surcharge @ 12% where taxable income>Rs.1 crore | (i) Surcharge @ 12% for Company,firm,co-operative society where taxable income>Rs.1 crore (ii) Surcharge @ 15% for Individuals,HUF,AOP,BOI,AJP if Taxable Income>Rs.1 crore | ||
| Tax Relief U/s 87 A | Maximum Rs.2000 | Maximum Rs.5000 | ||
To compute the tax liability go through the latest Income Tax slab rates also.
Also go through our popular blog posts : 10 Documents required for E-filing Income tax return !