Download Income Tax Calculator All in One for F.Y 2021-22 (A.Y 2022-23) in Excel
format. This Excel Utility can prepare at a time your tax math sheet + individual pay
structure according to the pay pattern of government and private employees + automatic
income tax arrears relief calculator with U / s 89 (1) Form 10 E including F.Y2021-22 +
automatic income tax HRA calculation U / s 10 (13A) + Automated Income Tax
Revised Form 16 Part A & B and automated Form 16 Part B]
This is simple and user-friendly income tax calculator for salaried individuals. This calculator will work for both old and new tax slab rates which were published in 2020. You can calculate your tax liability and determine tax-efficient investment options and appropriate tax structure for F.Y 2021-22.
Calculators are created using Microsoft Excel. Simple Excel-based formulas and functions are used to create this calculator. as pr Budget 2021
The income tax slab rate is the same for F.Y 2021-22 (A.Y 2022-23). Change in the budget is that citizens over the age of 75 are exempted from filing income tax returns.
The first tax slab with the high tax rate. If the individual or HUF wants to claim an exemption under 80C, 80CCC, 80CCD, 80D, 80DD, 80DDB, etc., the tax rate with a higher rate is applicable. The tax slab is given below when the waiver is claimed.
The income tax slab rate is new and OLD for 2021-22
The second tax slab with lower tax rates. If the taxpayer does not want to claim any discount, the new simplified tax system applies. The new simplified tax system with a lower tax rate is given below.
The taxpayer cannot able to get any income Tax Section benefits if the taxpayer chooses the new Tax Regime.
However, there are some discounts that are available like below.
Retirement benefits, gratuity etc.
Pension Conversion of pension
Retirement Cash discount at retirement
Trim compensation
• EPFO: Employer's Contribution
• NPS lift facility
• Education Scholarship
Salary payers can choose any tax slab. They can also revert between old and new tax systems. If any taxpayers have a business income, the option of revert between tax slabs is not allowed.
Part 1 - Calculate taxes according to higher tax rates
The first sheet contains a calculator as a data input sheet where you can keep all your data as needed. In this sheet, you can get all the discounts and discounts allowed. and the 2nd sheet is the unique Salary Structure for the Government and Non-Government Employees Salary Pattern.
Calculate your income tax liability according to the latest tax rate, you need to provide input like your total income, discount amount. In addition, you will need to provide information about the investments you have made under the various sections. The first page of this Utility has inputs for various sections of the Income Tax like 80C, 80D, 80CCD etc.
After filling in this detail you will have to go to the bottom section where you have to select the applicable tax slab by selecting male/female, senior citizen and very senior citizen options as well as choose your tax regime New or Old tax regime.
You will promptly see your tax liability on tax.
.
Calculate your income tax liability as per the new and old tax rate slab, you only need to provide a single input to your total income and your tax exemption amount.
The calculator will automatically calculate the tax liability and display it in the tax liability including the cess field. And also fill the all data in all the other Tax Sheets automatically. like Form 16 + HRA Calculation sheet + Form 10 E etc.
Feature of this Excel Utility:-
1) This Excel Utility Prepare Your Income Tax as per your option U/s 115BAC perfectly.
2) This Excel Utility has all amended Income Tax Section as per Budget 2021
3) Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2021-22 (Updated Version)
4) Automated Calculation Income Tax House Rent Exemption U/s 10(13A)
5) Individual Salary Structure as per the Govt and Private Concern’s Salary Pattern
6) Individual Salary Sheet
7) Individual Tax Computed Sheet
8) Automated Income Tax Revised Form 16 Part A&B for the F.Y.2021-22
9) Automated Income Tax Revised Form 16 Part B for the F.Y.2021-22
10) Automatic Convert the amount into the in-words without any Excel Formula
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