Download Income Tax Calculator 2013-14 in Excel (India)

Download and check out our popular Income Tax Calculator FY 2013-14 in Excel which incorporates the recent changes in Union Budget 2013. Although no changes in tax slabs or tax rates have been made, there are some updates like RGESS investments, tax credit for income less than Rs. 5 lakh, tax surcharge for income more than Rs. 1 crore and home loan interest benefit upto Rs. 2.5 lakhs for first time home buyers.

The Cells in the Excel File are not locked or hidden. So feel free to modify it and use it to make quick income tax calculation for yourself and your clients. And those of you who use Excel to make financial plans… check out how various Excel functions have been used to make the calculator. Excel is flexible, powerful and fun if you know how to use it :-)

Please note this is not a comprehensive calculator… but meant for giving a quick idea of income tax liability. Its a little fun too, so play around with it :-) I have added a small calculation in the end called “income tax ratio” – know how much percentage of your monthly income actually goes to government through direct taxes. It also has HRA Exemption Calculator for quickly taking this aspect into account while calculating Income Tax.

Download Income Tax Calculator 2013-14 in Excel


12 Comments

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  1. Dear Mr.Sadique

    Thank you for sending the Income Tax Excel Calculator for 2013-14.

    It is superb and thanks a don.

    May I request you to clarify the following point.

    1. If I invest in NPS ( New Pension Scheme or National Pension Scheme) and.

    if the employer pays to NPS upto 10% of salary, then to that extent I can.

    claim deduction which is over and above the limit of 1 lakh under Section 80 C.

    I think you need to add one more column to accommodate this provision. Correct me if I am wrong.

    Employer’s Contribution to NPS eligible for deduction under 80CCD(2).

    Section 80CCD(2) is a new section that not many people know about, and states that any contribution made by the employer towards NPS can be claimed for deduction by the employee. The two key restrictions are that the contribution must be made by the employer, and it can’t exceed 10% of your salary. Some employers like Wipro have already included 80CCD(2) them in their salary structure, so if your employer contributes to NPS then you should take advantage of 80CCD(2) as well.
    The good thing about this is that the NPS contribution amount is counted in excess of the amount of INR 1,00,000 as mentioned under Section 80C, 80CCC and 80CCD.

  2. Than X For Sharing. I am waiting for it from next day of General Budget.

  3. Dear Sadique

    I have not been able to go through the calculator completely but there is need to rectify a small detail. Interest on Home Loan is deductible about Rs 1.50 lac u/s 24(i)
    For additional one lac new section is 80-EE

    Gaurav

  4. Thanks Sadiq for giving us this useful tool much ahead of the financial year beginning to be better planners. God bless.

  5. mistake in tax calculation in rajiv gandhi equity scheme only 50% amount get tax benefit.

  6. Hi! Thanks for the calculator. 

    Deduction u/s 80D needs correction

    The amount for Self+ Parents(not senior citizen) is Rs. 15000+15000= Rs. 30000/-

    in case parents are senior citizens it is Rs. 15000+ 20000.=Rs. 35000/-

    Swati

  7. Nothing is mentioned regarding the extra benefit given to the people having the slab of Rs.2,00,000 to 5,00,000.

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