MFS Income-tax-calculator-for-New-and-Old-tax-regime fy 2025-26 updated.xlsx

	A	B	C	D	E	F	G	H	I
1	Excel Income tax Calculator for FY 25-26 (AY 26-27) onwards
2	Customized field calculator (Do change as you wish)
3	Fill only the Red-Highlighted field
4	B1 Salary / Pension	(i) Gross Salary of Employee	(ia + ib + ic)		630,000		630,000
5			(a) Salary as per sec 17(1)		630,000		630,000		Marginal Tax Relief Additionally, under the new tax regime, wherever the income is in excess of Rs 1200,000, the taxes on such income shall be restricted to the income in excess of Rs 1200,000. This concept is called marginal relief. Say income tax as per slab rates under the new tax regime on Rs 12,15,000 is Rs.62,500, as the tax amount is more than the income over and above 1200,000, tax shall be restricted to Rs.15,000 itself, the balance Rs.48,500 (63,500-15,000) is accounted as marginal relief. Its to wait whether this time marginal relief will be applicable for new tax regime?
6			(b) Value of perquisites as per sec 17(2)		0		0
7			(c) Profits in lieu of salary as per sec 17(3)		0		0
8		LESS :- Allowance to extent exempt u/s 10 like Travelling allowance, washing allowance, Child education allowance etc.		CEA-I-IDA	0		0
9		Less: Standard deduction u/s 16(iv)		Rs. 50,000	50,000		50,000
10		Less: Professional Tax			0
11		Income Under the Head Salaries			580,000		580,000
12	B2	Type of House Property	Self Occupied / Let out
13		Rent Recived Total in FY, if 'Let Out' (After deducting 30%)			0
14		Less (Interest on Home Loan)			0
15		Income chargeable under the head ‘House Property’			0		580,000
16	B3	Income from other sources	Like FD, Bond etc.
17		Interest from Savings bank	U/s 80TTA (General) - Maximum 10,000
18		Intra-day gain (Speculative trading)	Income from Equity shares (Intra-day)						Other tax-saving avenues in the new regime The deduction of 33.33% or Rs 25,000, whichever is less, on the family pension. A family pension is the pension a family member receives after the pensioner’s death. Gifts of up to Rs 50,000. A gratuity of up to Rs 20 lakh under Section 10(10). An amount of up to Rs 5 lakh received in the case of voluntary retirement under Section 10(10C). Leave encashment amount of up to Rs 25 lakh under Section 10(10AA). This is applicable at the time of leaving the job, not while you are still in the same company. Allowance for tour, travel or conveyance for official purposes and transport allowance for the specially-abled. Daily allowance if the place of work is different from the usual one. Certain non-taxable perquisites for official purposes, such as company-provided laptops, medical facilities, interest-free salary loans, etc. Home Loan Interest u/s 24(b) on let out property upto 200000
19		Short Term Capital Gain (Tax Statement from your broker)	Income from Equity shares or Equity Mutual Fund (ITR-2 needs to fill in 111A)
20		Long Term Capital Gain (Tax Statement from your broker)	Income from Equity shares or Equity Mutual Fund (ITR-2 needs to fill in 112A)
21	B4	Gross Total Income (B1+B2+B3)			580,000
22	Part C - Deductions and Taxable Total Income
23		Deductions	Description / Remarks	Invested / Expenditure	Claimed
24		Less: Deductions U/s 80C (PF, LIC, SSY, SCSS, NSC, KVP etc.)	Maximum 150,000 can be claimed by combining both 80C + 80CCD(1)	0	0
25		Less: NPS / Atal PY Contribution U/s 80CCD(1) - by Employee only		0	0
26		Less: NPS Contribution U/s 80CCD(1B) - by Employee only	Maximum 50,000 can be claimed in addition to 150,000 above.	0	0
27		Less: NPS Contribution U/s 80CCD(2) - by Employer only	Maximum 10 % of 'Basic+DA' can be claimed annualy	0	0		0
28		Less: Deduction u/s 80D	Health premium - 25,000 for Individual and 50,000 including parents above 60	0	0
29		Total Deductions (C1)			0
30		Total Income (B4 - C1)			580,000		580,000
31	Part D - Computation of Tax Payable
32	D1	INCOME TAX SALBS		Old Tax Regime Rate (%)	Old Tax Regime Amount (Rs.)		New Tax Regime Amount (Rs.)	New Tax Regime Rate (%)
33		Up to 2.5 Lakh		0	0	Up to 4 Lakh	0	0
34		2.5 Lakh - 3 Lakh		5	2,500	4 Lakh-8 Lakh	0	5
35		3 Lakh - 5 Lakh		5	10,000	8 Lakh- 12 Lakh	0	10
36		5 Lakh - 10 Lakh		20	16,000	12 Lakh-16 Lakh	0	15
37		10 Lakh - and Above		30	0	16 Lakh- 20 Lakh	0	20
38						20 Lakh-24 Lakh	0	25
39						24 Lakh And Above	0	30
40
41
42
43
44		Net Tax Payable	On Total Income (other than Short term capital gain)		28,500		0
45			Short term capital gain tax (@20%)		0		0
46		Surcharge			0		0
47		Education Cess 4%			1,140		0
48		Total Tax Payable			29,640		0
49		FINAL TAX Difference					-29,640
50	https://www.rubal.manshazfacility.com/		https://www.rubalobs.manshazfacility.com/		https://www.manshazfacility.com/
51			For more information contact- info@manshazfacility.com, 8898110828
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100