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Income Tax Calculator FY 2024-25 Excel [DOWNLOAD]

Income Tax Calculator FY 2024-25 Excel

Income Tax Slab Rates FY 2024-25.. No income tax on income up to Rs. 7 Lakh with tax rebate in New Tax Regime. Old Tax regime remains same..

Zero Income Tax with taxable income of Rs. 5 lakh or below in old tax regime and taxable income of Rs. 7 lakh or below in new tax regime..

Save Income Tax options: 1. Standard Deduction 2. Section 80C 3. Section 80D 4. Section 80CCD(1B) 5. HRA (House Rent Allowance) to save income tax..

New vs Old Tax Regime.. If you don’t make any investments, then new tax regime is better else with multiple Deductions old tax regime is better..

Section 80C to 80U includes multiple tax saving options with old tax regime to reduce your tax liability. EPF, 5 Year Fixed Deposits, ELSS..

Section 10(5) of income tax act allows income tax exemption for travel cost incurred by you within India as LTA exemption or LTC exemption..

Section 10(13A) of income tax act allows to claim HRA (House Rent Allowance) that you receive in your salary payslip if you pay house rent

Section 80RRB of income tax act allows you to claim deduction on income earned from royalty payments received on patent work created by you..

Section 80GGC of income tax act allows an Individual to claim deduction against donation paid to political party or electoral trust in India