How Can I Improve My Excel Income Tax Calculator for FY 2013-14? Your Feedback Needed!

I have prepared an Excel utility to calculate income tax for the Financial Year 2013-14 (Assessment Year 2014-15). Kindly let me know how you find it and how I can improve it further.

Regards,
Vivek Sang

Thank you, members, for your suggestions. I have incorporated the points suggested by you. Kindly download the latest file attached herewith and let me have your feedback. One has to mention the monthly gross salary and TDS deducted, and it will recalculate the remaining tax liability after taking into account the exempted value of savings.

Regards,
Vivek Sang

Attached is the tax calculator for F.Y. 2013-14 from Simple Tax India. I hope you will find this useful.

Regards,
Ramesh G

Attached is a calculation sheet and a note on the let-out property. I hope this will be helpful.

Regards,
Ramesh G

Dear Ramsri, you can input the saving figures like 10,000, 20,000, etc., or any other amount and see the tax reduction instantly in the right panel. This way, you can check how much savings you need for tax-free income.

New Updated File for Income Tax Calculation

New updated file 17-06-2013 for Income Tax calculation for Assessment Year 2013-14. Please let me know if you need any further assistance.

Regards,

Updated Income Tax Calculator

Income Tax Calculator uploaded earlier, now updated on 20-07-2013.

Regards

Ramesh,

Additional Provisions Needed in Tax Calculator

Two things that I wanted provision in the calculator were:

1. TDS deducted on the deposits by the bank.
2. Advance tax paid on other income.

Can you please provide that?

This was macro-enabled, so we cannot edit this. The only option available is to enter other income in the salary of a particular month itself and TDS information in the TDS part of that particular month. Otherwise, you have to write to the developer (email: [Email Removed For Privacy Reasons]).

Regards,
Ramesh G

First, add interest on FDR and any other income, then copy the amount into the cell against any other income in the D6 cell.

Regarding the TDS Part

Add TDS deducted on the deposits by the bank and advance tax paid on other income. Fill the combined amount in the TDS paid in the month it is actually paid.

I hope this will solve your purpose.

Regards,
Vivek Sang

I have prepared an Excel utility to calculate income tax for the Financial Year 2013-14 (Assessment Year 2014-15). Please check Column E30 & D30. You have not added E31 & E32 in E33 in the calculation sheet.

[QUOTE=padmanava; 2089760]

[QUOTE=vivek sang; 2046744]
I have prepared an Excel utility to calculate income tax for the Financial Year 2013-14 (Assessment Year 2014-15). Please check Column E30 & D30. You have not added E31 & E32 in E33 on the calculation sheet.

There is nothing in E31, E32, and E33 cells. The TDS - Paid column is from D24 to D35. Kindly explain the problem you are facing so that I can resolve the same.

Vivek Sang