Income Tax Calculator for FY 2019-20 [AY 2020-21] – Excel Download

Budget 2019 has made some changes to Income tax for individual – the highlight being full tax rebate for individuals earning below Rs 5 Lakhs. There has been no changes in the income tax slab. We highlight the changes and give you the new tax calculator for FY 2019-20 [AY 2020-21].

Changes in Income Tax Rules:

  • Rebate under Section 87A changed from Rs 2,500 to Rs 12,500 or 100% of income tax (whichever is lower) for individuals with income below Rs 5 Lakhs (from Rs 3.5 Lakhs)
  • Standard Deduction raised for Salaried & Pensioners from Rs 40,000 to Rs 50,000
  • In case of 2 house, tax on notional rent not applicable on second house and can be shown as self-occupied
  • TDS threshold for bank/post office/co-operative society deposits – raised to Rs. 40,000 per year from 10,000 per year.
  • Sec 54 exemption allowed on long term capital gains selling of one residential property to buy 2 residential property once in lifetime.

Download Income Tax Calculator (FY 2019-20)

Download: Free ebook for Income Tax Planning for FY 2019-20

Income Tax Slab for FY 2019-20 [AY 2020-21]

For Income Tax Purpose – citizens above age of 60 are considered as Senior Citizens and above age of 80 are considered Very Senior citizens.

Budget 2019 - Income Tax Slabs for FY 2019-20
Budget 2019 – Income Tax Slabs for FY 2019-20

Download Income Tax Calculator

You can download the Income Tax Calculator for FY 2019-20 [AY 2020-21] from the link below.

Download Income Tax Calculator (FY 2019-20)

Also Read: 5 Important Changes in Tax Rules from April 1, 2019

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 2018-19, FY 2017-18, FY 2016-17FY 2015-16,  FY 2014-15,  FY 2013-14 FY 2012-13 and FY 2011-12 by clicking on respective links.

5 thoughts on “Income Tax Calculator for FY 2019-20 [AY 2020-21] – Excel Download

  1. Pradeep Agrawal says:

    Can you please add the entry of 80 CCD (2) as well ?

  2. Sir plz provide free eBook for fy2019-20…Thank you.

  3. Wherr is the download link?

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