Rajasthan Income Tax Calculator

आयकर गणना प्रपत्र

Income Tax Calculator Fy 2024-25

Introduction to Income Tax Calculator for FY 2024-25

The Income Tax Calculator for the Financial Year (FY) 2024-25 is an essential tool designed to help individuals, professionals, and businesses accurately compute their tax liability based on the latest income tax laws in India. This user-friendly calculator considers key factors like income slabs, deductions, exemptions, and applicable tax rates under both the Old Tax Regime and the New Tax Regime.

Rajasthan Income Tax Calculator in Excel 

Creating a Rajasthan Income Tax Calculator in Excel involves designing an easy-to-use spreadsheet that computes income tax liability based on the taxpayer’s income, deductions, and applicable tax laws for the FY 2024-25. Here’s how you can create one:

Income Tax Slab Rates Under New and Old Regime financial year 2024-25 in india
 

Tax Slabs and Rates:-

Include a table for tax slabs and rates applicable for FY 2024-25. For example:

Old Tax Regime (₹):-

Income Range Tax Rate (%)
0 – 2,50,000 0%
2,50,001 – 5,00,000 5%
5,00,001 – 10,00,000 20%
Above 10,00,000 30%

The Old Tax Regime allows various deductions and exemptions, making it suitable for individuals with significant eligible investments or expenses.

Key Features of the Old Regime:

  1. Standard Deduction: ₹50,000 for salaried individuals.
  2. Rebate under Section 87A: Available for taxable income up to ₹5,00,000 (net tax liability becomes zero).
  3. Deductions Allowed: Investments and expenses under sections like 80C (₹1.5 lakh), 80D, 80TTA, etc.

New Tax Regime (₹):-

Income Range Tax Rate (%)
0 – 3,00,000 0%
3,00,001 – 7,00,000 5%
7,00,001 – 10,00,000 10%
10,00,001 – 12,00,000 15%
12,00,001 – 15,00,000 20%
Above 15,00,000 30%

Key Features of the New Regime:

  1. Standard Deduction: ₹75,000 available for salaried individuals.
  2. Rebate under Section 87A: Available for taxable income up to ₹7,00,000 (net tax liability becomes zero).
  3. No Exemptions/Deductions: Most exemptions like HRA and deductions under sections 80C, 80D, etc., are not allowed.

Rajasthan Govt Employees Income Tax Calculator in Excel

How to Create an Income Tax Calculator in Excel Sheet:

Download Excel Software

Part of Excel Sheet of Income Tax Calculator

  1. Salary Sheet (GA-55)
  2. Other Deduction
  3. Old Tax Regime 
  4. New Tax Regime 
  5. Form 16

Salary Sheet (GA-55)

  • Please Install Devlys 10 & Krutidev 10 Fonts
  • Are you an employee of GPF 2004 Then Select “YES”
  • Have you taken your surrender? If taken then select “YES” & Select “Month”
  • Select Current HRA (House Rental) rate (10% or 20%)
  • Did you get a bonus? Select “YES” or “Month”
  • Are you a senior citizen? Select “YES” or “Month”
  • Fill Employee Related Information (Name, Designation, PAN No., TAN No. Acount No., Mobile No.
  • Fill basic salary in Yellow cell (March 2024)
  • Filled Deduction According to GA 55 or Employee Salary slip.

 

Rajasthan Income Tax Calculator Fy 2024-25
Rajasthan Income Tax Calculator Fy 2024-25

Other Deduction

  • Deduction whose tax rebate is to be taken in addition to the employee’s salary
  • House Loan Principle & Interest 
  • Tution Fees of Childdren
  • All Other Deduction are Available Here Please Fill Up.
Deduction - Rajasthan Income Tax Calculator Fy 2024-25
Deduction – Rajasthan Income Tax Calculator Fy 2024-25

Old Tax Regime

  • Auto Generate Old Tax Regime Form (Not Editable)
Old Tax Regime - Rajasthan Income Tax Calculator Fy 2024-25
Old Tax Regime – Rajasthan Income Tax Calculator Fy 2024-25

New Tax Regime

  • Auto Generate New Tax Regime Form (Not Editable)
New Tax Regime - Rajasthan Income Tax Calculator Fy 2024-25
New Tax Regime – Rajasthan Income Tax Calculator Fy 2024-25

Form 16

  • Auto Generate Form 16 (Not Editable)
Form 16 - Rajasthan Income Tax Calculator Fy 2024-25
Form 16 – Rajasthan Income Tax Calculator Fy 2024-25

Income tax Calculation for the Salaried Person:

Income from salary = Basic salary + HRA + Special Allowance + Transport Allowance + any other allowance.

Some components of your salary are exempt from tax, such as telephone bill reimbursement and leave travel allowance. If you receive HRA and live on rent, you can claim an exemption on HRA. Calculate the exempt portion of HRA.

On top of these exemptions, a standard deduction of 50,000 is available in both old and new regimes. This has been increased to Rs. 75,000 in Latest Budget 2024 only under the New Regime. 

This Income Tax Calculator FY 2024-25 helps you in Income Tax Calculation for new FY 2024-25 and FY 2023-24 (AY 2024-25), with the help of Old Tax Regime and New Tax Regime. This calculator can also be used as New Tax Regime Calculator.

It also helps you to know which tax regime is better for you – Old or New tax regime, so that you pay less income tax based on your income and investments. Also, you can download the old vs new tax regime calculator in excel using below link.

Download Excel Software

Download – Income Tax Software with Form 16

Rajasthan Employee Income Tax Calculator (आयकर गणना प्रपत्र 2024-25 Excel Download)
Files Name Financial Year Download Link
Rajasthan Govt Employees Income Tax Calculator Excel (Education) 2024-25 Click Here
Rajasthan All Employees Tax Calculator Excel 2024-25 Click Here
Rajasthan Income Tax Calculator Excel (Police Department) 2024-25 Click Here
Rajasthan Income Tax Calculator Excel (Health Department) 2024-25 Click Here
Rajasthan Income Tax Calculator Excel (Dairy Fedration) 2024-25 Click Here
Income Tax Calculator Blank PDF 2024-25 Click Here
CENTRAL GOVERNMENT
Income Tax Calculator India Excel (Central Govt Employees) 2024-25 Click Here
UTTAR PRADESH
Uttar Pradesh Income Tax Calculator in Excel 2024-25 Click Here
MADHYA PRADESH
Madhya Pradesh Income Tax Calculator in Excel 2024-25 Click Here
BIHAR
Bihar Income Tax Calculator in Excel 2024-25 Click Here
UTTARAKHAND
Uttarakhand Income Tax Calculator in Excel 2024-25 Click Here
CHATTISGARH
Chattisgarh Income Tax Calculator in Excel 2024-25 Click Here
HARIYANA
Hariyana Income Tax Calculator in Excel 2024-25 Click Here
WEST BENGAL
West Bengal Income Tax Calculator in Excel 2024-25 Click Here

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