Input your total annual CTC or gross income from all sources.
Keep a copy for your records to assist in filing your ITR. Why Choose an Excel Calculator Over Online Tools?
Income tax planning for Assessment Year (AY) 2023-24 requires precision, especially with the choice between the Old and New Tax Regimes. Using an Excel-based calculator is the most efficient way to compare these options and manage your finances offline. Understanding AY 2023-24 (FY 2022-23) income tax calculator ay 2023-24 excel free download
A robust Excel tool should simplify complex calculations into a few data entry points. Look for these features in a free download:
Precise calculation of the 4% Health and Education Cess. Old vs. New Tax Regime: AY 2023-24 Slaps Old Tax Regime (With Exemptions) Up to ₹2.5 Lakh: Nil ₹2.5L to ₹5 Lakh: 5% ₹5L to ₹10 Lakh: 20% Above ₹10 Lakh: 30% New Tax Regime (Section 115BAC) Up to ₹2.5 Lakh: Nil ₹2.5L to ₹5 Lakh: 5% ₹5L to ₹7.5 Lakh: 10% ₹7.5L to ₹10 Lakh: 15% ₹10L to ₹12.5 Lakh: 20% ₹12.5L to ₹15 Lakh: 25% Above ₹15 Lakh: 30% How to Use the Excel Tax Calculator Input your total annual CTC or gross income from all sources
List your investments under 80C (PPF, LIC, ELSS), 80D (Mediclaim), and interest on home loans (Section 24b).
Automatic inclusion of the ₹50,000 deduction for salaried individuals. Income tax planning for Assessment Year (AY) 2023-24
Automatic application of the tax rebate for taxable income up to ₹5 lakh.