Wednesday, July 23, 2014

Income Tax Relief Calculator 89(1) updated according to Tax Slabs.

Friends,   Everyone knows that Income Tax Slabs have been changed in the Financial Year 2014-15 or Assessment Year 2015-16 with the following changes :-

1.  Basic Tax exemption   2 lakh to 2.50 lakh for individual  
                                        2.50 lakh to 3.00  for senior citizen. 
2.  Saving u/s 80C            1 lakh to 1.50 lakh and investor can also invest in PPF upto 1.50 lakh in a year.
3.  Interest on Housing Loan    1.50 lakh to 2 lakh. 

In the above, Point No. 1 effects the 89(1) relief calculation for those employees who have received arrears in the financial year 2014-15.  Therefore the same has been updated in 89(1) relief  calculator with new income tax slabs. 

Download free excel based 89(1) relief calculator for the Financial Year 2014-15  with new Tax Slabs. 

(In case any error found in above calculator, please inform through email at for earliest updation)

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