Simple Income Tax Calculator 2022-23
Income-Tax-Calculator-2022Download
This excel utility calculates income tax for the salaried person. It has considered all the parameters for proper calculation of income tax for an individual.
For the Financial Year: 2022-23, following points are considered:-
Standard Deduction for Salaried & Pensioners | Rs. 50,000
Total deduction of 80C, 80CC and 80CD will not exceed | Rs. 1,50,000
Additional deduction u/s 80CCD(1B) NPS will not exceed | Rs. 50,000
Deduction limit on interest on loan for self-occupied house | Rs. 2,00,000
Maximum deduction U/S 87A | Rs. 12,500
Deduction U/S 87A applicable upto Taxable income of | Rs. 5,00,000
Mode of deduction of CESS (Direct or Step by Step) | DIRECT
Non Taxable annual subscription on GPF upto | Rs. 5,00,000
Limit of deduction u/s 80D Medical Insurance Premium and preventive health check up | Below 60 | 60 & above
80D Cashless payment of Medical Insurance Premium for Self, spouse and children. | Rs. 25,000 | Rs. 50,000
80D Cashless payment of Medical Insurance Premium for parents | Rs. 25,000 | Rs. 50,000
preventive health check-up under 80D for Self, spouse and children. | Rs. 5,000 | Rs. 5,000
preventive health check-up under 80D for parents | Rs. 5,000 | Rs. 5,000
Professional Tax Slab for Income Range
From | To | Rate of Tax Per Month (Rs.)
0 | 5000 | 0
5001 | 6000 | 0
6001 | 7000 | 0
7001 | 8500 | 0
8501 | 10000 | 90
10001 | 15000 | 110
15001 | 25000 | 130
25001 | 40000 | 150
40001 | above | 200
Details of H.R.A.
Maximum H.R.A. applicable to an employee per month | Rs. 12,000
GPF Interest Rate
Mar, 2022 to Feb, 2023 | 7.10%
Income Tax Slab for Male
FROM | TO | OLD RATE (%) | NEW RATE (%)
0 | 2,50,000 | 0 | 0
2,50,001 | 5,00,000 | 5 | 5
5,00,001 | 7,50,000 | 20 | 10
7,50,001 | 10,00,000 | 20 | 15
10,00,001 | 12,50,000 | 30 | 20
12,50,001 | 15,00,000 | 30 | 25
15,00,001 | Infinity | 30 | 30
Income Tax Slab for Male of 60 years or above (Senior Citizens)
FROM | TO | OLD RATE (%) | NEW RATE (%)
0 | 2,50,000 | 0 | 0
2,50,001 | 3,00,000 | 0 | 0
3,00,001 | 5,00,000 | 5 | 5
5,00,001 | 7,50,000 | 20 | 10
7,50,001 | 10,00,000 | 20 | 15
10,00,001 | 12,50,000 | 30 | 20
12,50,001 | 15,00,000 | 30 | 25
15,00,001 | Infinity | 30 | 30
Income Tax Slab for Female
FROM | TO | OLD RATE (%) | NEW RATE (%)
0 | 2,50,000 | 0 | 0
2,50,001 | 5,00,000 | 5 | 5
5,00,001 | 7,50,000 | 20 | 10
7,50,001 | 10,00,000 | 20 | 15
10,00,001 | 12,50,000 | 30 | 20
12,50,001 | 15,00,000 | 30 | 25
15,00,001 | Infinity | 30 | 30
Income Tax Slab for Very Senior Citizens (80 years or above)
FROM | TO | OLD RATE (%) | NEW RATE (%)
0 | 2,50,000 | 0 | 0
2,50,001 | 3,00,000 | 0 | 0
3,00,001 | 5,00,000 | 0 | 0
5,00,001 | 7,50,000 | 20 | 10
7,50,001 | 10,00,000 | 20 | 15
10,00,001 | 12,50,000 | 30 | 20
12,50,001 | 15,00,000 | 30 | 25
15,00,001 | Infinity | 30 | 30
SURCHARGE
FROM | TO | RATE (%)
0 | 49,99,999 | 0
50,00,000 | 9,99,99,999 | 10
10,00,00,000 | 19,99,99,999 | 15
20,00,00,000 | 49,99,99,999 | 25
50,00,00,000 | Infinity | 37
Download: Income Tax Calculator
