Income Tax Calculator FY 2024-25(AY 2025-26)Excel Download

Income Tax Calculator FY 2024-25 Excel Free Download/ Income Tax Calculator AY 2025-26 Excel Free Download

Income Tax Calculator AY 2025-26 Excel Free Download

It is quite unlikely that any taxpayer is happy with the highest yearly benefit. This is especially true for the middle class. The maximum tax benefit of Rs. 17,500 amounts to a monthly tax savings of Rs. 1,458.33. Is this really what you, as a taxpayer, have expected?

I don’t think there would be anyone apart from the deeply knowledgeable pseudo. Some experts believe this year’s budget is aimed to cater to the holistic needs of our country. It was designed to support the nation’s sustainable economic growth. For the country’s sustainable economic growth, it was indeed needed.

Oh really? Then what about our country’s people, especially the salaried class? Those who are getting squeezed slowly and eternally. Those who are paying taxes honestly and silently hoping that next year there will be something beneficial for them. But alas! Despair, Despair and only Despair.

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Download Income Tax Calculator for AY 2026-27(FY 2025-26) As per Budget 2025

Download Income Tax Calculator for AY 2025-26 in Excel Format / Income Tax Calculator Excel Free Download

In this post, I will discuss how to calculate Income Tax for the FY 2024-25 and AY 2025-26. I will use the Income Tax Calculator FY 2024-25 Excel Download tool.

Now, let us have a look at the synopsis of the Budget 2024. It has a direct impact on the salaried class, especially.

• Default Tax Regime: The New tax regime is the default tax regime from FY 2023. However, one has the option to continue with the old tax regime as well.
• Discourages Investments: Moving towards the new tax regime discourages investments for saving taxes. This will ensure individuals have more money in their hands to spend more. Ultimately, money returns back to the Govt.
• Enhanced Standard Deduction: Standard deduction has been enhanced to Rs 75,000/- from earlier limit of Rs 50,000 for salaried persons choosing both the new and old tax regime;
• Tax rebate U/S 87A: Tax rebate U/S 87A has remained same i.e. Rs 25,000/- in case of the new tax regime and Rs12,500 for old tax regime for FY 2024-25;
• Basic Exemption Limit: The basic exemption limit has remained the same for the new tax regime, i.e. Rs 3 Lakh and for the old tax regime, the limit is the same, i.e. Rs 2.5 Lakh;
• Rebate Limit: The limit U/S 87A has been increased. This applies for net income(after standard deduction of Rs 75,000) up to Rs 7.5 Lakh. This is an increase from the earlier limit of Rs 7 Lakh. The change keeps pace with the rebate amount of Rs. 25,000 for the new tax regime ;

Income Tax Calculator FY 2024-25 Excel Free Download/ Income Tax Calculator AY 2025-26 Excel Free Download

New Income Tax Slab for FY 2024-25 (AY 2025-26) as per the New Tax Regime

Net Income Tax Slabs as per New Tax Regime	Income Tax Rates-  FY 2024-25 & AY 2025-26
Up to Rs. 3,00,000	–
Rs. 3,00,001 to Rs. 7,00,000	5%
Rs. 7,00,001 to Rs. 10,00,000	10%
Rs. 10,00,001 to Rs. 12,00,000	15%
Rs. 12,00,001 to Rs. 15,00,000	20%
Above Rs. 15,00,000	30%

New Income Tax Slab for FY 2024-25 (AY 2025-26) as per the Old Tax Regime

Tax Rate	Individual Tax Payer (Below 60 Years)	Senior Citizen (61-80 Years)	Super Senior Citizen (Above 80 Years)
NIL	Up to 2,50,000	Up to 3,00,000	Up to 5,00,000
5%	2,50,001- 300,000	3,00,001- 5,00,000	NIL
20%	5,00,001-10,00,000	5,00,001-10,00,000	5,00,001-10,00,000
30%	>10,00,000	>10,00,000	>10,00,000

Income Tax Calculator For AY 2025-26 in Excel Format

Income tax calculation sometimes becomes a daunting task. Also, the question arises in your mind like which tax regime to choose. So, this Income Tax calculator AY 2025-26 Excel Free Download Tool has been designed keeping all these aspects in mind.

This Excel-based calculator is a combination of both the new and old tax regimes. You don’t need to do anything extra. Just put all your income and deductions details. The calculator will automatically calculate your final tax liability at a glance under both regimes. It will help you in deciding which tax regime is beneficial for you.

Income Tax calculator Excel Free Download

Income tax calculation sometimes becomes a daunting task. Also, the question arises in your mind like which tax regime to choose. So, this Income Tax calculator 2024-25 Excel Free Download Tool has been designed keeping all these aspects in mind.

This Excel-based calculator is a combination of both the old and new tax regimes. You don’t need to do anything extra.

Just put all your income and deductions details. This calculator will automatically calculate your final tax liability at a glance under both regimes. It will help you decide which tax regime is beneficial for you.

Key Features of Income Tax Calculator AY 2025-26 Excel Free Download (Old and New):

Key features of this Income Tax Calculator FY 2024-25(AY 2025-26)Excel Download

• This is a combined tax calculator for calculating your tax liabilities under both the new and old tax regimes.
• It helps you in deciding which tax regime is best for you.
• This calculator shows your total tax liability as a % of the gross total income(GTI).
• This calculator is best suited for salaried persons. It should be used as a simple income tax calculator for the salaried class only.
• You can not use this tool for calculating your Long Term Capital Gain Tax.
• This Excel-based calculator is password protected to give you the best results.
• Just put your details in the yellow cells only. Don’t try to delete other unused cells. This will maintain the sanctity of the calculator.

Now let us see some FAQs on Income Tax Calculator AY 2025-26 Excel Free Download

How do I calculate income tax in Excel?

At first, you need to download the Income Tax Calculator Excel from the download section. Thereafter, just put your income and deductions details in the respective fields. This calculator will automatically calculate your taxes. It will give you the best-suited tax regime.

But remember one very crucial aspect. From 1st April 2023, the new tax regime has become the default for salaried employees. If you want to continue with the old tax regime, you need to submit an application. You should give this application to your employer.

How do I manually calculate my income tax?

I am very sorry, but this Income Tax Calculator AY 2025-26 Excel will automatically calculate your income tax. You do not need to calculate your tax liability manually. Just leave the headache on the Excel calculator itself, and you just relax.

How much tax do I pay on 10 lakh salary?

Ok, if your Gross Total Income(GTI) is Rs. 10 Lakh, as per the new tax regime, your total tax liability shall be Rs. 44,200/-, which is 4.42% of your GTI. You can also check it from the calculation sheet below:

How income tax is calculated on salary?

Income tax on salary income is calculated as per the applicable slabs. For example in the above example if your gross total income is Rs.10 Lakh, then your total income tax liability shall be Rs.44,200/- only.

Two tax slabs have been used for the calculation. They are Rs 3-7 Lakh @ 5% and Rs 7-10 Lakhs @ 10%. First, a Standard Deduction of Rs 75,000 is deducted. Thereafter, you should add education Cess @ 4% on the income tax of Rs 42,500/-. This results in your total income tax liability being Rs 44,200/-.

How much tax will I pay if my salary is 5,00,000?

As per the new tax regime, the basic exemption limit is Rs. 3 Lakhs. This implies that for your salary income of Rs. 5,00,000/- in the given case, you are not liable to pay any income tax.

As far as the new tax regime is concerned, for an income up to Rs. 8.25 Lakh, an individual salaried person is not required to pay any tax. Because the tax amount of Rs. 25,000 is negated by the tax rebate U/S 87A( i.e. 8,25,000-75,000).

Rebate plays a significant role. It makes your income from salary completely tax-free up to an income level of Rs 8.25 Lakh in a year.

Income Tax Calculation Formula in Excel

In the income tax calculator Excel Download tool, you can skip using the formula for income tax calculation in Excel. The Excel calculator will handle the tax calculations automatically. It works for both new and old tax regimes. You just need to put in your income and deductions details.

How to calculate income tax on salary with example

Do you really know how to calculate income tax on salary with an example? In most cases, taxpayers are unaware of the tax slabs. They also don’t know the tax rates and the deductions they are entitled to get.

So, in that case, our Income Tax Calculator Excel tool plays a pivotal role. It calculates your total tax liabilities under both tax regimes at the same time.

Income tax calculator software free download 2024-25 Excel

Our free Excel-based income tax calculator software can be freely downloaded from the download link below. First, enter all your details. This will allow you to calculate the total tax liability according to both the Old and New Tax regimes.

This Excel-based software shall suggest the best tax regimes for you. It will identify the beneficial amount of tax according to both the new and old tax regimes.

Income tax calculator India

This income tax calculator in India is primarily designed for salaried individuals. They contribute significantly to India’s total income tax revenue.

Income Tax Calculator AY 2025-26 Excel Free Download

Income Tax Calculator FY 2024-25 Excel Free Download