Whether you choose to
pay income tax online or offline, you need to estimate your income tax
liabilities in advance, especially if you are a salaried person. However,
future income can rarely be accurately predicted. So, you estimate your
potential taxes once at the beginning and then again at the end of the fiscal
year.
Additionally, you need
to file a prepaid tax, which should be at least 90% of your tax liability.
Although this amount will be calculated at the end of the financial year, the
prepaid tax estimates benefit you in the following two ways:
• Saves you from sudden
huge liabilities at the end of the financial year
• You can plan your
investments for the next year
An income tax
calculator can help you estimate your tax liability early and later in the
financial year.
Feature of this Excel Utility:-
1) This
Excel utility prepares and calculates your income tax as per the New Section
115 BAC (New and Old Tax Regime)
2) This
Excel Utility has an option where you can choose your option as New or Old Tax
Regime
3) This
Excel Utility has a unique Salary Structure for Government and Non-Government
Employee’s Salary Structure.
4) Automated
Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the
F.Y.2000-01 to F.Y.2021-22 (Update Version)
5) Automated
Income Tax Revised Form 16 Part A&B for the F.Y.2021-22
6) Automated
Income Tax Revised Form 16 Part B for the F.Y.2021-22