Income Tax Calculator for FY 2017-18 [AY 2018-19] – Excel Download

Download Tax Calculator for FY 2017-18

Download Tax Calculator for FY 2017-18

Income tax for individual is what most tax payers want to know in Budget. In Budget 2017, the finance minister has made little changes to this. We highlight the changes and give you the new tax calculator for FY 2017-18 [AY 2018-19].

Changes in Income Tax Rules:

1. Tax reduced from 10% to 5% for Income from Rs 2,50,000 – Rs 5,00,000 leading to tax saving of up to Rs 12,500.

2. 10% surcharge on income tax if the total income exceeds Rs 50 Lakhs but less than Rs 1 crore

3. For people with net taxable income below Rs 3.5 lakh, the tax rebate has been reduced to Rs 2,500 u/s 87A

4. NO RGESS Tax exemption from FY 2017-18

5. Interest deduction on rented property capped at Rs 2 Lakh

Download: Free ebook for Income Tax Planning for FY 2017-18

Income Tax Slab for FY 2017-18 [AY 2018-19]

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 2017–18 [AY 2018-19]

Income Tax Slab for FY 2017–18 [AY 2018-19]

Download Income Tax Calculator

You can download the Income Tax Calculator for FY 2017-18 [AY 2018-19] from the link below.

Also Read: 25 Ways Budget 2017 Impacts Your Taxes and Investments

Limitations of the Calculator:

  • This Calculator is for people with only one home
  • 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 2016-17FY 2015-16,  FY 2014-15,  FY 2013-14 FY 2012-13 and FY 2011-12 by clicking on respective links.

60 thoughts on “Income Tax Calculator for FY 2017-18 [AY 2018-19] – Excel Download

  1. Hi Amit,

    Could you please share the spreadsheet where we can track the monthly income and expenses and savings also reflect..I’m sure this will help for middle class..

  2. Dhiraj Patra says:

    not able to update 80CCD as NPS additional 50000/- savings

  3. Sanjay Yadav says:

    Hi Mr. Amit, My annual income is total amount including bonus = Rs. 6,61,641 from April 2016 to Mar. 2017 my age is 33 yrs. I don’t have house. Most of the time of period i spent out of country( India). I am in aboard. And my company allows me holiday to come to India for 1 month in a year. I don’t have any other source of income. Pl confirm how much income tax I have to Pay?.

  4. Very informative. Thank you for sharing this awesome article.

  5. Dear Amit,

    Pl calculate my income tax.

    I retired on 31 Jul 16. My income from Apr 16 to Jul 16 is Rs. 2,50,000. Thereafter I am getting pension @Rs. 18700 per month. As on 31 Mar 17 estimate interest on my FDs is Rs. 1,15,000. I have invested Rs. 2,00,000 in senior citizen scheme. Pl confirm how much income tax I have to Pay?

  6. sharendra m tilekar says:

    cna i get rebate on house loan for second home ,loan amount is 1200000/- in dec 2016

    • Yes you can get tax benefit if you have got possession of the house. There is No limit on the number of house to claim tax benefit on home loan!

  7. Hi Amit,

    I got job as a consultant in Feb 2017 for a UK Firm and I would be paid in USD 12,000 annually but payment would be done on monthly basis after submitting my invoice. The salary would be deposited to my Indian Bank account. How much Tax I have to pay, is there any exempt if i get the salary in USD? Thanks in Advance

  8. I 65 years old . My total income for F Y 2018-19 is 380000 Rs . what will be my tax

  9. Hi Amit, In Budget 2017, Finance Minister has mentioned Interest deduction on rented property capped at Rs 2 Lakh. So If I have 2 Properties one is Self occupied & Other is rented and on both the Properties I am having Loan. So I can get 2 Lacs Intrest Payment Benefit on Slef Occupied Property & 2 Lacs Income Tax benefit on Rented Property. So all togethr 4 Lacs will be deducted from my Taxable income. Correct me if I am wrong

  10. I am constructing the house, Still it is not finished, It may complete by Feb 2018. Can I claim HRA (Rent) as well as well as Loss of house property (interest paid to Bank)?

  11. SUBHASCHANDRA MALAGI says:

    hello Amitji, I have paid LIC PREMIUM FOR INSURANCE POLOCIES IN MY FROM MONEYTHAT MY DAUGHTER HAS CREDITED TO MY A/C FROM HER EARNINGS AS SHE IS RECENTLY EMPLOYED. iAM A TAXPAYER COMMING UNDER 20% BRACKET BUT I HAVE NOT USED THIS PREMIUMS AS SAVINGS FOR MY TAX EXEMPTION U/S80C PURPOSES DURING FY 16-17. THESE ARE OLD POLICIES HELD BY ME. CAN MY DAUGHTER COMMING UNDER10% BRACKET USE THIS PREMIUM PAID FOR REBATE U/S 80C FOR HER INCOME TAX PURPOSES. KINDLY GUIDE.

    • I think it would be complicated. How would you proof that it was indeed daughter who paid for the premium. As these are old policies which might have been bought by you. THe insurance papers would not have your daughter’s name anywhere making it difficult to proof her payments.

  12. Hi Amit, My wife is earning 10 Lakhs salary per annum, I don’t have job from last 10 years. no other earnings. She has 2 flats (ancestor property) with rent 2 lakhs per annum. she signed on rent agreement.

    Can I take that rent deposit to my bank account. other than municipal tax any other income tax need to pay? Is it possible to take general power from my wife to avoid increasing tax for her.

  13. Ashish Sharma says:

    What is the password of the excel sheet.

  14. Hi Amit, thanks for the latest sheet. However please note that the HRA deduction component(Row 10) is not capturing and so the sheet doesn’t give proper tax

  15. 12500 rebate is applicable on tax or on income?? please reply. thank you

  16. what is password for Calculator for FY 2017-18 [AY 2018-19]

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