Income Tax Calculator Excel (FY 2013 - 2014)

With financial year ending on 31st March 2013, if you have been thinking of how much is your income tax liability for the current financial year then here is a calculator in excel format to help you with that. It's an extremely easy to use calculator and helps you not only in assessing your income tax liability for the current financial year 2013-14 but also let's you tweak numbers under different head and plan investments accordingly. 

The income tax slabs were revised in budget 2012 and the limits were raised marginally. However there will be more savings for people earning more than 8 lakh per annum.The revised slab for the current assessment year i.e AY 2013 - 2014 is:

For general public:

Upto Rs. 2 Lakhs - Nil

Rs 2 - 5 Lakhs - 10%

Rs 5-10 Lakhs - 20%

Above Rs 10 Lakhs - 30%

For senior Citizens:

Upto Rs. 2.5 Lakhs - Nil

Rs 2.5 - 5 Lakhs - 10%

Rs 5-10 Lakhs - 20%

Above Rs 10 Lakhs - 30%

About the Calculator:

1. Only Orange Cells are input cells.

2. Do not change any other cells as this may lead to Incorrect calculation.

3. Do not leave any orange cell blank. Instead, enter 0

4. This calculator calculates Income tax only for people who have no losses / gains from House property or have a maximum of 1 House.

Use the following link to download the calculator: Income Tax Calculator Excel 2013