Income tax rates are one thing which every common man is worried about. The finance minister, P Chidambaram in his Budget 2013-14 kept the income tax rates unchanged. The table below shows the summary of tax slabs for FY 2013-14.
There are two minor changes:
- Super rich have to pay more taxes. A surcharge of 10% on Rs 1 crore plus income earners have been imposed. This is for one year only and would impact about 42,800 people only
- The middle class with income of up to Rs 5 lakhs would receive tax credit of Rs 2,000 for FY 2013-14. This essentially means people with income up to Rs 5 lakhs have reduced tax burden of Rs. 2,060 for FY 2013-14.
As we have done previously for previous financial years, here is the first version of the income tax calculator for FY 2013-14. This calculator is in Excel format and can be downloaded.
Limitations of the Calculator:
- This calculates Income tax only for people who have no losses/gains from House property or have a maximum of 1 House.
I would try to incorporate these in the next versions of the calculator.
[button link=”https://www.apnaplan.com/wp-content/uploads/2013/02/Income-Tax-Calculator-FY-2013-14.xls” color=”#7025da” size=”3″ style=”1″ dark=”0″ radius=”auto” icon=”Download” target=”self”]Download Income Tax Calculator for FY 2013-14[/button]
You can also Download the latest Tax Calculator for FY 2014-15 below
[button link=”https://www.apnaplan.com/?wpdmact=process&did=NTQuaG90bGluaw==” size=”Large” color=”orange” border=”Orange”]Income Tax Calculator for FY 2014-15 [AY 2015-16][/button]
Your suggestions are welcome!
This is how the calculator looks like.