How To Make Income Tax Calculator in MS Excel | Income Tax Calculation Examples
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- Опубліковано 6 сер 2024
- How To Make Income Tax Calculator in MS Excel | Income Tax Calculation Examples
In this video by FinCalC TV, we will see how to calculate Income Tax for FY 2021-22 using Excel examples. This Income Tax Excel Calculator will help you learn to make Income Tax calculator in excel and other popular excel functionalities and excel features. Income Tax calculation for FY 2021-22 using Old Income Tax slab Rates and New Income Tax slab rates and which one you should choose while calculating Income Tax. Standard Deduction of Rs. 50,000 will be available for employees and pensioners. You can get Tax Rebate of maximum Rs. 12,500 under Section 87A if your Taxable Income is below Rs. 5 Lacs.
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DOWNLOAD INCOME TAX EXCEL CALCULATOR:
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How to Save Income Tax:
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TIMESTAMP:
00:00 Intro
00:53 Income Tax Calculator using EXCEL
05:37 Tax Calculations for Slab Rates
14:48 Tax Rebate in Income Tax
16:33 Cess Calculation in Income Tax
18:28 Final Income Tax Calculation
19:22 Income Tax Refund Calculation
21:14 Making Investments to Save Income Tax
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After watching this video following queries will be solved:
How To Calculate Income Tax FY 2021-22?
how to save income tax?
How to make income tax calculator using excel
What are the income tax slab rates for FY 2021-22?
What is standard deduction for FY 2021-22?
Old Slab rates vs new slab rates?
Income Tax calculation FY 2021-22 using excel examples?
Tax rebate under section 87A?
What is tax rebate u/s 87a
Eligibility for tax rebate 87a
Old income tax slab rates calculation vs new income tax slab rates calculation
New Budget 2021 income tax
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NEW INCOME TAX SLAB RATES INTRODUCED IN BUDGET 2021:
- No Income Tax on Income between Rs. 0 to Rs. 2.5 lacs
- 5% Tax on Income between Rs. 2.5 lacs to Rs. 5 lacs
- 10% Tax on Income between Rs. 5 lacs to Rs. 7.5 lacs
- 15% Tax on Income between Rs. 7.5 lacs to Rs. 10 lacs
- 20% Tax on Income between Rs. 10 lacs to Rs. 12.5 lacs
- 25% Tax on Income between Rs. 12.5 lacs to Rs. 15 lacs
- 30% Tax on Income above Rs. 15 lacs
OLD INCOME TAX SLAB RATES (STILL APPLICABLE):
- No Income Tax on Income between Rs. 0 to Rs. 2.5 lacs
- 5% Tax on Income between Rs. 2.5 lacs to Rs. 5 lacs
- 20% Tax on Income between Rs. 5 lacs to Rs. 10 lacs
- 30% Tax on Income above Rs. 10 lacs
EXAMPLES:
Let's say your Income from Salary is Rs. 6 lacs.
Your income from other sources is Rs. 15000
This makes your gross total income as Rs. 6,15,000
Let's say your investments include Rs. 60,000 under Section 80C, Rs. 10,000 under Section 80D and Rs. 5000 under Section 80TTA.
This makes your total investments as Rs. 75,000. So your net taxable income becomes equal to Rs. 6,15,000 minus Rs. 75,000, which is equal to Rs. 5,40,000. These Deductions are applicable only if you are using Old Tax slab rates. Your net taxable income when considering New Tax slab rates remains Rs. 6,15,000, as no deductions are applied on your total income.
WATCH FULL VIDEO TO KNOW MORE ABOUT NEW INCOME TAX SLAB RATES AND MORE EXAMPLES.
#IncomeTax #ExcelCalculator #IncomeTaxCalculation #IncomeTaxFY2021-22 #Excel #Calculator #FinCalCTV
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DISCLAIMER:
Examples used are for Illustration purpose only and might not cover every detail of examples shown. It is advised to seek professional help before taking any financial decisions. The owner of this channel shall not be liable in any way.
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Awesome explanation sir 👌
Thank you
@FinCalC TV I do not speak Hindi and I don’t understand Hindi very well either, however you’re giving information here that’s very important for me… I would much appreciate it if you could kindly do or divulge the same information in English, thanks
Thanks for your feedback Shajan. Many of them already asked me to provide information in English. I have decided to provide English subtitles in Hindi videos to help both language speaking audiences. You can watch this video related to income tax where I have provided English subtitles ua-cam.com/video/mw-erFuYboM/v-deo.html
Thanks again for your constructive feedback.
Do new income tax sample with today's budget
done
link: ua-cam.com/video/4MNnk4NFRuw/v-deo.html
U could have given us the option to download the Excel calculator.
Yes I have explained how you can make one for those interested in learning excel as well. You can download the excel from my website here fincalc-blog.in/how-to-calculate-income-tax-fy-2021-22-video-excel-calculator-examples/
@@fincalc Thanks....
The form was unable to submit. Please contact the site administrator. While going to download ...it is saying like this.
issue is solved now, please check. thanks for informing
How to calculate surcharge
Use this calculator to calculate income tax
fincalc-blog.in/income-tax-calculator/
Where is excel for download pls
You can download from here
fincalc-blog.in/income-tax-calculator-fy-2022-23-excel-download-fincalc/
Cannot able to download the excel sheet
issue is solved now, please check. thanks for informing
सर
मे एक house wife हू,
पर मे ये calculate करना चाहती हू
मे जॉब नाही करती,पर मेरे ,मेरे मौसी के और माँ के मिला के(सबके ऍड करके) कुछ पैसे हम फंडस् मे डालना चाहते है
मुझे ऐसा सोल्युशन बताओ जैसे की हमे Tax नाही लगे
मे ये execel मे कैसे calculate करू?
प्लीज रिप्लाय किजीए
You mentioned >50000&>75000 income tax 20% and said 5%