Income tax for individual is what most tax payers want to know in Budget. In Budget 2017, the finance minister has made little changes to this. We highlight the changes and give you the new tax calculator for FY 2017-18 [AY 2018-19].
Contents
Changes in Income Tax Rules:
1. Tax reduced from 10% to 5% for Income from Rs 2,50,000 – Rs 5,00,000 leading to tax saving of up to Rs 12,500.
2. 10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but less than Rs 1 crore
3. For people with net taxable income below Rs 3.5 lakh, the tax rebate has been reduced to Rs 2,500 u/s 87A
4. NO RGESS Tax exemption from FY 2017-18
5. Interest deduction on rented property capped at Rs 2 Lakh
[button link=”https://apnaplan.files.wordpress.com/2018/06/income_tax_calculator_fy_2017_18_v3.xlsx” target=”_blank” size=”large” style=”download” color=”darkcyan” text=”light”]Download Income Tax Calculator (FY 2017-18)[/button]
Income Tax Slab for FY 2017-18 [AY 2018-19]
For Income Tax Purpose – citizens above age of 60 are considered as Senior Citizens and above age of 80 are considered Very Senior citizens.
![Income Tax Slab for FY 2017–18 [AY 2018-19]](https://www.apnaplan.com/wp-content/uploads/2017/02/Income-Tax-Slab-for-FY-2017–18-AY-2018-19-1024x441.png "Income Tax Calculator for FY 2017-18 [AY 2018-19] - Excel Download 2")
Download Income Tax Calculator
You can download the Income Tax Calculator for FY 2017-18 [AY 2018-19] from the link below.
[button link=”https://apnaplan.files.wordpress.com/2018/06/income_tax_calculator_fy_2017_18_v3.xlsx” target=”_blank” size=”large” style=”download” color=”darkcyan” text=”light”]Download Income Tax Calculator (FY 2017-18)[/button]
Also Read: 25 Ways Budget 2017 Impacts Your Taxes and Investments
Limitations of the Calculator:
- This Calculator is for people with only one home
- It does not computes Capital Gains Tax
These features might be incorporated in next versions of the Tax calculator
You can also download Income Tax Calculator for FY 2016-17, FY 2015-16, FY 2014-15, FY 2013-14, FY 2012-13 and FY 2011-12 by clicking on respective links.
![Income Tax Calculator for FY 2020-21 [AY 2021-22] - Excel Download](https://www.apnaplan.com/wp-content/uploads/2020/02/Income-Tax-Calculator-for-FY-2020-21-AY-2021-22-Excel-Download.png "Income Tax Calculator for FY 2020-21 [AY 2021-22] - Excel Download 5")
SIR,
PLEASE SEND INCOME TAX CALCULATOR FROM ME FY 2018-19 AY 2019-20
In fy 18-19 your tax calculation sheet is shown wrong there is not shown standard deduction
Today i download your excel sheet there is wrong tax calculation in fy 2018-19
Payment of interest on loan to NBFC does it attracts TDS deduction liability on me
My father is retired person and he got pension of around 32000/- and there is some TDS deduction of rs 789 Rs in his pension account.
pls suggest for TDS deduction.
thanks!!
I am a senior citizen age 75 getting my family pension both pension income is 4,79,632.and fds intereste is 2,97,666 .how much I want to pay income tax for thisplsd help me sir thank you.
ITR-2 (2018-19AY) AFTER FILLING SALARY,HOUSE PROPERTY,OTHER INCOME .
IT IS NOT SHOWING HOW MUCH TAX TO BE PAID.
IN TURN IT IS SHOWING ALREADY PAID TAX AS REFUND EVEN IN JAVA UTILITY ALSO SAME PROBLEM.
INSTEAD OF SHOWING TAX TO BE PAID AS ZERO.
Dear sir ,
I retaired july2017. Pl.calculate my IT.
Salary….415541,pension….173988,scss interest….73506.and my saving..150000.what is my IT?Pl.give me details.
I am house wife . my short term capital gain is Rs. 1.8 lakh and dividend receipt is 1000/- & Bank interest 25000.00. I have no other source of income. What will be tax liability? & Which ITR to be filled??