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Teachers Income Tax Software 2020-21

 Teachers Income Tax Software 2020-21

How to Calculate Income Tax FY 2020-21

Every year generally Financial year begin from 1st April and 31st March. Teachers and employees in TS and AP can utilise the IT Software to calculate monthly salary particulars automatically based on the new and old Tax Slab rates. As of the Tax Slab rate for individuals from the Financial year 2020-21 and Assessment Year 2021-22.

 Every Individual Less than of the age 60 Years – Old IT Slab Rates

Income InTax
Upto Rs. 2,50,000/-No Tax ( Nil )
Between Rs.2,50,001 to 5,00,0005% (Total Income minus Rs.2,50,000)
Between Rs.5,00,001 to 10,00,000Rs.25,000+ 20% of (Total income minus Rs.5,00,000 lakhs)
Above Rs.10,00,000Rs. 1,25,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-

Every Individual Less than of the age 60 Years – New IT Slab Rates

Income Tax SlabTax Rate
Up to Rs 2.5 lakhNIL
Rs 2.5 lakh to Rs 5 lakh5% (Tax rebate of Rs 12,500 available under section 87A)
Rs 5 lakh to Rs 7.5 lakh10%
Rs 7.5 lakh to Rs 10 lakh15%
Rs 10 lakh to Rs 12.5 lakh20%
Rs 12.5 lakh to Rs 15 lakh25%
Rs 15 lakh and above30%

Employees IT Calculator Free download in Excel Sheet

Software one prepared by C.Ramanjaneyulu sir

Software two prepared by vijayakumar sir

Click link 1 for software 1

Click link 2 for software 2

Link1 // Link2

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