Excel based Income Tax Calculator for FY 2019-20 – AY 2020-21
This 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).
Highlights of Changes in FY 2019-20 in Income Tax return Form:
- Standard deduction enhanced for salaried persons from ₹ 40,000 to ₹ 50,000 in FY 2019-20.
- Income tax slabs remain unchanged as per previous year.
- Tax rebate (u/s 87A) enhanced by ₹ 12500 from ₹ 2500, taxable income after all deductions/exemptions up to ₹ 5 lakhs is Tax-free.
- TDS deduction on fixed deposits threshold increased from existing ₹ 10,000 to ₹ 40,000.
- Additional section 80EEA on home loans on purchase of an affordable home is introduced from FY 2019-20 for Rs 1.5 Lakhs.
- Additional section 80EEB on Auto loans on purchase of Electric vehicles is introduced from FY 2019-20 for Rs 1.5 Lakhs.
Income Tax Slab of FY 2019-20 – [AY 2020-21]
Tax slab for Men up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% |
Tax slab for Women up to 60 years of age.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 2,50,000 | Nil |
| 2 | ₹ 2,50,000 to ₹ 5,00,000 | (TI-₹ 2,50,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 12,500+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,12,500+(TI-₹ 10,00,000) * 30% |
Tax slab for Senior Citizen aged above 60 years.
| Sr. no. | Tax Slab (₹) | Tax (₹) |
| 1 | Less than ₹ 3,00,000 | Nil |
| 2 | ₹ 3,00,000 to ₹ 5,00,000 | (TI-₹ 3,00,000) * 5% |
| 3 | ₹ 5,00,000 to ₹ 10,00,000 | ₹ 10,000+(TI-₹ 5,00,000) * 20% |
| 4 | Greater than ₹ 10,00,000 | ₹ 1,10,000+(TI-₹ 10,00,000) * 30% |
Download Income Tax Calculator
Income Tax Calculator for FY 2019-20 [AY 2020-21]
Click Here ITR-1 Calculator FY-2019-20 [AY-2020-21] (income tax calculator AY 2020-21 excel) and download the excel sheet.
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Teacher
income tex 2019-20
How is purchase price
Hello Sir,
Hope you are doing good,
Sir,
For TDS purpose we have to download java based software , but in that I am unable to find the software in that site.
Sir if you have any link can you please share with us sir, it is more help to me sir…
I have download the excel based tax calculator, its very essay to understand and calculate the tax. But I am unable to print out the sheet in A4 or Legal size paper. How can I print it out plz notify
Thanks, for your valuable comment, I am happy to help you out and modify the sheet in the future you can take printouts easily.