IT calculator for AY 2024-25 with IT ready reckoner for FY 2023-24



Quick Summary
This article provides an IT calculator and ready reckoner for the Financial Year 2023-24 (Assessment Year 2024-25), incorporating amendments from the Union Budget 2023. It details the tax rates, allowable deductions, and exemptions under the new tax regime, which is now the default. The old tax regime is also presented for reference, with specific conditions for opting out.

A quick review (Limited Information) of the applicable provisions under the Income Tax Act, 1961 for the F. Y. 2023-24 (A. Y. 2024-25), after incorporating amendments (only key and selective amendments) proposed by the Union Budget of 2023, are given below for ready reference and information.:- (NOTE: The Budget of 2023 has made the New Tax Regime u/s 115BAC a Default Regime and the Old Tax Regime has become Tax Inefficient for Assessees (other than having brought forward and carried forward
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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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About the Author

Software Maker & Income Tax Practisioner

I am a B.com from Kolkata University, West Bengal. I have some knowledge in Ms. Excel and ors DBMS in Computer. I have also some knowledge about Accounts and Income Tax. I have already prepared various Excel Calculation software and shared the same. Visit My Web Site www.itaxsoftware.net OR More Income Tax Related E ... Read more

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