Income Tax Online Calculator for Salaried (Government) Employees

INCOME TAX FORM 16 CALCULATOR FOR GOVERNMENT EMPLOYEES (Certificate u/s 203 of the Income Tax Act 1961 for Tax Deducted at Source on Salary)
	Details of Salary Paid & Other Income and Tax Deducted		Amount (in Rs.)
1	Gross Salary
2	Less:Allowance to the extent exempt u/s 10
3	Balance (1-2)
4	Deduction:
	(a)Entertainment Allowance
	(b)Tax on Employment
5	Aggregate of 4 (a) & (b)
6	Income chargeable under the Head Salaries (3-5)
7	Add:Other Income reported by the Employee
	(a) Income/Loss from House Property
	(b)Income from other sources
8	Gross Total Income (6+7)
9	Deductions Under Chapter VI-A(80C, 80CCC & 80CCD) (Max.1,50,000)
	GPF
	CGEGIS
	LIC
	Tuition Fees
	PLI
	NSC
	HBA Principal
	PPF
	ULIP
	Pension Fund
	IDBI/ICICI/Other Savings
	Contribution to DCPS
	Medical Insurance
	Physically Handicapped Relif
	CONTRIBUTION TO PM/CM R.FUND
	PHYSICALLY HANDICAPPED SELF
10	Aggregate of Deductable Amount Chapter VI-A
11	Total Taxable Income (8-10)
	10% ()
	20% ()
	30% ()
12	Tax on Total Income
13	Rebate U/C 87A
14	Net Taxable Income
15	Surcharge
16	Educational Cess 3%
17	Tax Payable

Income Tax Calculator 2023
Age Category	Male or Female Senior Citizen Super Senior Citizen
Gross Income

Tax Calculation AY 2022-23
Total Income	Rs.
Taxable Income (Standard deduction Rs. 50000)	Rs.
Income Tax Payable	Rs.

[Note: The above calculation for general information purpose only]

The Central Govt announced recently in the Union Budget 2020-21 a new optional Income Tax slab rate system for individual taxpayers.

As per the new tax law, individual taxpayers will pay tax at a reduced rate of 10% for income between 5 lakhs and 7.5 lakhs and 15% for income between 7.5 lakhs to 10 lakhs.

And also for individual taxpayers the rates of income tax at a reduced rate of 20% for income between 10 lakhs and 12.5 lakhs and 25% for income between 12.5 lakhs to 15 lakhs.

There will be no tax for annual income up to Rs. 5 lakh and above 15 lakh will continue to be taxed at 30%.

New Tax Slab Rates Table 2020-21

• Up to Rs. 2,50,000 – No Tax
• Rs. 2,50,001 to Rs. 5,00,000 – 5 percent
• Rs. 5,00,001 to Rs. 7,50,000 – 10 percent
• Rs. 7,50,001 to Rs. 10,00,000 – 15 percent
• Rs. 10,00,001 to Rs. 12,50,000 – 20 percent
• Rs. 12,50,001 to Rs. 15,00,000 – 25 percent
• Above Rs. 15,00,001 – 30 percent

Major changes in the Income Tax Rate System

Rs. 5,00,001 to Rs. 10,00,000 – 20 percent

• Rs. 5,00,001 to Rs. 7,50,000 – 10 percent
• Rs. 7,50,001 to Rs. 10,00,000 – 15 percent

Rs. 10,00,001 to Rs. 15,00,000 – 30 percent

• Rs. 7,50,001 to Rs. 10,00,000 – 20 percent
• Rs. 10,00,001 to Rs. 12,50,000 – 25 percent

Income Tax Calculator for Salaried Government Employees AY 2020-21 (not in the excel format) with simple online free tool.

A simple online income tax calculation tool created to find the basic tax for salaried (Government) employees. The tool shows the tax amount based on your inputs only and will not be accurate. Enter your total income in the required place and the tool will show the amount to pay the tax.

Income from monthly salary, allowances, incentives, bonus and arrears from 1st April 2019 to 31st March 2020 in the financial year 2019-2020 (Assessment Year 2020-2021).

Also check: Income Tax Slabs and Tax Rate in India for FY 2020-21

TDS certificate form 16

Form 16 is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees.

These certificates provide details of TDS / TCS for various transactions between employer and employee. It is mandatory to issue these certificates to Tax Payers.

Also check: Income Tax Slab for AY 2020-21 PDF Download

INCOME TAX CALCULATOR – PRE & POST BUDGET 2017