New Tax Regime Versus Old Tax Regime - Tax Calculator

Last updated: 16 October 2020

Save Share

Quick Summary

This Excel file allows you to compare your income tax liability under both the new and old tax regimes for AY 2021-22. It includes a detailed calculator for the old tax regime, covering various income sources and deductions under Chapter VI-A. The comparison sheet automatically generates based on your inputs, helping you understand which regime is more beneficial. This tool is particularly useful for salaried individuals looking to plan their taxes.

File details

XLSX 46 KB 0 downloads Income Tax

File description

"Income Tax Calculator for Old & New Tax Regime for Salaried Employee" will assist you in determining Tax Liability under both Options viz. New Tax Regime and Old Tax Regime. Instructions for using Income Tax Calculator for Old & New Tax Regime for Salaried Employee : The User needs to input the data in the fields highlighted with Grey Colour and Select Data Auto-Populated from Drop Down List (wherever applicable). This is Applicable for "Calculator - Old Tax Regime" sheet whereas "Comparison" Sheet is Auto-Generated based on the Inputs by the User in the "Calculator - Old Tax Regime" sheet. It may be noted that Blue Marked Fields are auto populated based on Users Input. Tips/Comments have been placed in the Fields (wherever considered necessary) in order to assist the user. Tips/Comments have been marked by a Small Red Triangle which can be made visible by hovering on that Field. User is requested take the Tip/Comment into consideration since the same may assist the User in calculating the required data accurately. Whichever field is not applicable, you can enter "0". Accordingly, the Comparison under "Comparison" Sheet is Auto-Generated based on the Inputs by the User in the "Calculator - Old Tax Regime" sheet. A Suggestion by Tax Ninja based on the user's Input will be provided in order to Assist the user. #xlsx

Download XLSX 46 KB Like

Submitted by Tax Ninja · Posted 16 October 2020 · Other files by Tax Ninja · Report

Comments