Excel based Income Tax Calculator for FY 2018-19 – AY 2019-20
I have never understood the real concept of HRA exemption in my early days when I have started taxation.
Also Read:- Credit Card against Fixed Deposit
Highlights of Changes in FY 2018-19 in Income Tax return Form:
- Introduction of Standard deduction Rs 40,000 which replace conveyance allowance and medical reimbursement.
- Education and healthcare Cess on tax increased from 3% to 4%.
- New section 80TTB added for senior citizens for deduction of saving account interest income, FD and Recurring interest income up to Rs 50,000.
- Section 80D now allows up to Rs 50,000 deduction for plan taken for senior citizens.
Income Tax Slab of FY 2018-19– [AY 2019-20]
Tax slab for Men up to 60 years of age.
Tax slab for Women up to 60 years of age.
Tax slab for Senior Citizen aged above 60 years.
Lots of my followers ask me to develop an excel based easy calculation sheet.
Click Here ITR-1 Calculator (income tax calculator AY 2019-20 excel) and download the excel sheet.