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Income Tax Calculator

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The 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).

New Scheme – Income Tax rates for the financial year 2020-21 (Assessment Year: 2021-22) – Without exemptions/deductions

  • For Men/Women
  • Upto Rs. 2,50,000 Nil
  • Rs. 2,50,001 to Rs. 5,00,000 5 per cent
  • Rs. 5,00,001 to Rs. 7,50,000 10 per cent
  • Rs. 7,50,001 to Rs. 10,00,000 15 per cent
  • Rs. 10,00,001 to Rs. 12,50,000 20 per cent
  • Rs. 12,50,001 to Rs. 15,00,000 25 per cent
  • For resident individual of 60 years or above (Senior Citizens)
  • Upto Rs. 3,00,000 Nil
  • Rs. 3,00,001 to Rs. 5,00,000 5 per cent
  • Rs. 5,00,001 to Rs. 7,50,000 10 per cent
  • Rs. 7,50,001 to Rs. 10,00,000 15 per cent
  • Rs. 10,00,001 to Rs. 12,50,000 20 per cent
  • Rs. 12,50,001 to Rs. 15,00,000 25 per cent
  • Above Rs. 15,00,000 30 per cent
  • For resident individual of 80 years or above (Very Senior Citizens)
  • Upto Rs. 5,00,000 Nil
  • Rs. 5,00,001 to Rs. 7,50,000 10 per cent
  • Rs. 7,50,001 to Rs. 10,00,000 15 per cent
  • Rs. 10,00,001 to Rs. 12,50,000 20 per cent
  • Rs. 12,50,001 to Rs. 15,00,000 25 per cent
  • Above Rs. 15,00,000 30 per cent

Old scheme: Income Tax rates for financial year 2018-19/ 2019-20/2020-21 (Assessment Year: 2019-20/ 2020-21/ 2021-22)

  • For Men
  • Upto Rs. 2,50,000 Nil
  • Rs. 2,50,001 to Rs. 5,00,000 5 per cent
  • Rs. 5,00,001 to Rs. 10,00,000 20 per cent
  • Above Rs. 10,00,000 30 per cent
  • For Women
  • Upto Rs. 2,50,000 Nil
  • Rs. 2,50,001 to Rs. 5,00,000 5 per cent
  • Rs. 5,00,001 to Rs. 10,00,000 20 per cent
  • Above Rs. 10,00,000 30 per cent
  • For resident individual of 60 years or above (Senior Citizens)
  • Upto Rs. 3,00,000 Nil
  • Rs. 3,00,001 to Rs. 5,00,000 5 per cent
  • Rs. 5,00,001 to Rs. 10,00,000 20 per cent
  • Above Rs. 10,00,000 30 per cent
  • For resident individual of 80 years or above (Very Senior Citizens)
  • Upto Rs. 5,00,000 Nil
  • Rs. 5,00,001 to Rs. 10,00,000 20 per cent
  • Above Rs. 10,00,000 30 per cent

Please download income tax calculator from the links provided below on the basis of required financial year/assessment year. Any person who has some basic knowledge of Microsoft excel can use this tool easily.