Thursday, February 1, 2018

VittVishesh simplified : Excel file to calculate Tax difference between FY2018 and FY2019

The budget presented today has introduced a Standard Deduction of Rs. 40,000 by replacing medical and conveyance exemptions. But there is also an increase in educational cess from 3% to 4%.

It was not that simple to know whether one you are going to pay less tax or more tax. has prepared this simple excel calculator for know the difference in tax paid for the same Gross Annual Income. Now with few strokes on key board you can easily know from this formulae powered excel file the difference in tax amount for the same gross salary income in these two financial years. has introduced this excel calculator to make this calculation simplified. Just enter your gross CTC to know how much tax you are paying in financial year 2018 and how how much you will pay in financial year 2019. 

This calculator has considered the newly introduced standard deduction of Rupees 40000, removal of medical and transport allowance and increase in educational cess from 3% to 4%. 

This excel file also contains a drop down for NPS and 80C investments. You can select the desired percentage of tax saving instrument investment you planned or planning to do for tax saving. With the help of this drop down you can do a what if analysis of your tax liabilities at desired investment points.

download this excel file for FREE and share with your friends and colleagues. 

Personal Finance simplified by

वित्त विशेष 

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