Budget FY 2025-26 New Regime Tax Slab Rate, 01 February, 2025
FM announced that no income tax will be payable for annual income upto ₹12 lakh. Limit for tax deduction on interest income to be doubled to Rs 1 lakh for senior citizens.
income tax calculator
How to Manage Salary Records or Laser and Calculate Income Tax for Govt Employees
Gross income for tax calculation includes regular salary, arrears (DA, Pay, HRA), and additional earnings like rewards and children’s education allowance to ensure accurate income tax computation.
Build an Income Tax Calculator for Salaried Emp in Google Sheets or Excel, Easy Step
This calculator approach simplifies tax calculations, reducing reliance on Chartered Accountants by breaking income into slabs, applying tax rates, and adding cess, enabling precise computation of payable tax under each regime.
Income Tax FY-2024-25 New vs Old Regime Calculation Sheet here
Incomes ranging from ₹7 lakh to ₹50 lakh in FY 2024-25 (AY 2025-26), the Tax Calculation Sheet is designed to simplify the comparison between the new and old tax regimes, helping taxpayers easily assess their tax liabilities under both systems.