Tax Computation Worksheet Fy 2019 20. Tax rebate u s 87a enhanced by 12500 from 2500 taxable income after all deductions exemptions up to 5 lakhs is tax free. The changes to the tax withholding schedules announced in the federal budget 2020 21 are not reflected in this calculator as the 2020 21 calculator won t be available until 1 july 2021.
Therefore you have to use it to calculate only for that particular period. For income tax calculator for fy 2018 19 ay 2019 20 click here to download in excel for free. Tax credit of 12 500 for income up to 5 00 000 under section 87a.
Income tax slabs remain unchanged as per previous year.
Download income tax formula in excel by clicking the below download button you can get the formula for income tax calculation in an excel file. For income tax calculator for fy 2018 19 ay 2019 20 click here to download in excel for free. Slabs are the same both for male female. Highlights of changes in fy 2019 20 in income tax return form.