Download Income Tax Calculator for FY 2014-15 [AY 2015-16]

Income Tax Calculator for FY 2014-15 [AY 2015-16]

Income Tax Calculator for FY 2014-15 [AY 2015-16]

In keeping with trend of publishing the Income Tax Calculator every year, here is the Income Tax Calculator for FY 2014-15 [AY 2015-16].

Changes in Budget 2014:

We have incorporated the 3 changes that happened in Budget 2014 (presented on July 10, 2014)

These are:

  1. Income up to Rs 2.5 lakhs for General Public and up to Rs. 3 lakhs for Senior citizens are now exempted from paying Income tax. Earlier this limit was Rs 2 Lakhs for General Public and rs 2.5 Lakhs for Senior Citizens.
  2. The exemption limit for investments under section 80C has been raised from Rs 1 Lakh to Rs 1.5 Lakhs. 
  3. The exemption on paying interest on Home Loan has been raised from Rs 1.5 Lakhs to Rs 2 Lakh.

Download Income Tax Calculator

You can download the Income Tax Calculator for FY 2014-15 [AY 2015-16] from the link below. You might need to unlock this by any of the options below:

Download Income Tax Calculator for FY 2015-16 [AY 2016-17] 

Income Tax Slab for FY 2014-15 [AY 2015-16]

The income tax slab has changed for General Public and Senior Citizens.

For Income Tax Purpose – citizens above age of 60 are considered as Senior Citizens and above age of 80 are considered Very Senior citizens.

Income Tax Slab for FY 2014-15 or AY 2015-16

Income Tax Slab for FY 2014-15 (AY 2015-16)

You can also Download a Simple Presentation to Plan and Save tax

Quick Guide to Save Tax for FY 2014-15 (AY 2015-16)

Limitations of the Calculator:

  1. This Calculator is for people with only one home.
  2. it does not computes Capital Gains Tax

These features might be incorporated in next versions of the Tax calculator

You can also download Income Tax Calculator for FY 2013-14 FY 2012-13 and FY 2011-12 by clicking on respective links.

Your suggestions and feedback are welcome!

25 thoughts on “Download Income Tax Calculator for FY 2014-15 [AY 2015-16]

  1. pratibha saini says:

    We take joint homelone with my mother in low .we[husband -WIFE]bought a plot my mother in low name [I take P.L .in my sellary when plot bought] my hubby only son my mother in low .total EMI of home lone given by my sallery can i take rebbit in income tax .property not my name .

    • Sorry i could not get your question clearly. But what I could make out you cannot get any income tax benefit on payment of housing loan if the home is not in your name.

  2. Online tax payment India says:

    Thanks for sharing such a useful information and have downloaded the Income tax calculator.

  3. […] can also download Income Tax Calculator for FY 2014-15,  FY 2013-14,  FY 2012-13 and FY 2011-12 by clicking on respective […]

  4. I need to add advance tax deduction in that form, how can i add, it is password protected, can you please add that in your form. it will be very helpful

  5. Under Section 80GG The deduction is 24000.00, But your tax calculator accepts only Rs.2000.00, Please clarify if I am mistaken or rectify the error.

  6. I cant edit cells and it is protected view. If i change it to unprotected view, it is asking password.

    Can you please help me to unlock this?


  7. Capt Amarjeet Singh says:

    Which is the taxfree bond to invest in FY 2015-16 india

  8. Hi Amit, encountered the same that Suresh faced. But, I will downloading the updated version.


  9. Downloaded IT calculator 2014-15. On filling my DOB as June 1954,along with date,., the income tax calculator shows age as 59 years only, whereas actual completed age is 60. May pl check.

    • Thanks for pointing out the error. I have corrected it and uploaded the new version. Please download and also share with your friends!


  10. Your calculator for FY 2014-15 shows deduction of Rs20000/- under Sec.80D medical insurance premium for self,spuse & children(Column A) whereas limit is Rs15000/-

    • Thanks for using the calculator.
      U/s 80D You can claim maximum deduction of Rs 15,000 in case everyone insured is below 60 years of age and Rs 20,000 if any one of the member is above 60 years of age on medical insurance.

  11. Dear Team

    I have just tried your income tax calculator for FY 2014/15, and I am getting a taxable income of Rs.2,74,575/- but tax payable is showing only Rs.471/- . Now that the tax slab is 2.50 lakhs how do you justify this tax of Rs.471/- ?

    Kindly explain

    • There is deduction of 2000 for income upto 5 lakhs u/s 87A. So your tax comes to 471.
      Let me know in case of further queries.

      • My net income is 2,74,575/- and taxable income would be 22,575/- and 10% on this would be 2257/- approx, as per current tax slab rates.
        Please correct me if I am wrong.

      • dear Mr.Amit
        I am impressed by your I.TAX calculator, it is very simple with almost all items. However, I would like to know if you can provide me a calculator covering the retirement entries in the worksheet like PF, Gratuity, Leave encashment, 1/3 commuted pension which are exempt u/s 10 etc. it would be of great help to me as I am retired in Jun’14 with all retiral benefits.
        GR Babu

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