IT Old & New Regime Compare 2020-21 | Income Tax Software to Compare Between Existing & New Regime

IT Old & New Regime Compare 2020-21 | Income Tax Software to Compare Between Existing & New Regime in Telugu : Employees Income Tax Comparison Financial Year 2020-2021 Income Tax Software to compare Tax under existing and new Personal Tax Regime FY 2020-21. AP Teachers / Employees New Income Tax Calculate software developed by C.Ramanjaneyulu. TS Teachers / Employees compare due tax under new, old regime IT Calculator. Use this comparison table to enter your salary details and find out if the new or old tax regime announced in budget 2020 will be beneficial for you?.

IT Old & New Regime Compare 2020-21 | Income Tax Software to Compare between existing & new Regime details released by Income tax of india. Excel Calculator to compare Tax under existing and new Personal Tax Regime u/s 115BAC. New Tax Regime vs Old Tax Regime Comparison Income Tax Excel software download. IT Calculate help an individual take an informed decision of opting either the tax slab while filing their income tax return (ITR) next year.

IT Old & New Regime Compare 2020-21 | Income Tax Software to Compare between existing & new Regime

IT Old & New Regime Compare 2020-21 | Income Tax Software to Compare between existing & new Regime

Income ax Department Official IT Calculator FY 2020-21

Income tax dept launches e-calculator to compare due tax under new, old regime, Confused About New & Old Income Tax Slabs? Try This E-Calculator Launched By Government. The calculator takes into account eligible exemptions and deductions, as proposed under the new regime, after being extracted from the Budget memorandum 2020.

IT dept launches e-calculator for individuals to compare due income tax under new, old Slabs. The calculator, with a comparative table to compare taxes in the old and the new tax regime, for resident individuals (financial year 2020-21) has been hosted on the official e-filing website of the department https://www.incometaxindiaefiling.gov.in.

A comparative chart of the tax Slabs and rates under both Regime is as under:

Tax Slab Rates Existing Regime New Regime
Upto Rs 2,50,000 Nil Nil
From Rs 2,50,001 to Rs 5,00,000 5% 5%
From Rs 5,00,001 to Rs 7,50,000 20% 10%
From Rs 7,50,001 to Rs 10,00,000 20% 15%
From Rs 10,00,001 to Rs 12,50,000 30% 20%
From Rs 12,50,001 to Rs 15,00,000 30% 25%
Above Rs 15,00,000 30% 30%

IT Old & New Regime Compare 2020-21 | Income Tax Software to Compare Between Existing & New Regime

 

IT computation Old regime New regime <br) >
(u/s 115BAC)
PAY = 7,46,500 = 7,46,500
DA = 2,03,406 = 2,03,406
HRA = 1,08,243 = 1,08,243
IR = 2,01,555 = 2,01,555
TOTAL = 12,59,904 = 12,59,904
(-) HRA part Or full = 1,08,243
11,51,661
= Dis allowed
12,59,904
Standard Deduction
(-) PT & CMRF
= 54,200
10,97,461
Disallowed
12,59,904
Housing Loan Interest = 1,08,000
9,89,461
Dis allowed
12,59,904
(-) Saving U/s 80 C PF
+APGLI
+LIC
GIS+Tution fee + HL
– 1,50,000
7,39,461
Dis allowed
12,59,904
TAXABLE INCOME
IT Calculation on
= 7,39,461 = 12,59,904
IT Upto 2.5 L Nil  Nil
2.5-5L@ 5% 12,500 12,500
Tax Calculate 5L-7.39,461@20% – 47892 5L-7.5L@10% -25,000

7.5L-10L @ 15% -37,500

10L-12.5L@20% – 50,000

12.5L-12,59,904 @ 25% – 2,476

Rebate U/s 87A Nil Nil
Tolat Tax 60932 1,27,476
Education,
Health (+) Cess @ 4%
2416 5,099
TOTAL Tax te Be Paid 63348 1,32,575

Download Income Tax Software to compare Excel Software 
Click here IT Department Official Calculator 

S.No.
FY 2020-21 IT Developed Name
Download
1 C.Ramanjaneyulu Income Tax Software FY 2020-21 Click Here
2 KSS Prasad Income Tax Software FY 2020-21 Click Here
3 Putta Srinivas Reddy Income Tax Software FY 2020-21 Click Here
4 Vijay Kumar Income Tax Software FY 2020-21 Click Here
5 Mobile Version Income Tax Software FY 2020-21 Click Here
6 Seshadri Income Tax Software FY 2020-21 Click Here
7 Model School Teachers Income Tax Software FY 2020-21 Click Here
8 Pensioners / Retired Teachers/ Employees Income Tax Software Click Here
Disclaimer : Above information is published for reference only. For any changes to the content, you can visit the official website.