U.P. INCOME TAX CALCULATOR FY 2023-24 (AY 2024-25)
Uttar Pradesh Incometax Calculator |
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How to use the Income Tax Calculator?
- This is an offline tool which is built in MS Excel.
- This software is for the employees of Uttar Pradesh in the financial year Designed to calculate income tax for 2022-23.
- After downloading the software, it can be done easily.
- Incometax software will automatically calculate your tax amount according to income.
- The software is made in 5 parts. (i) Salary (ii) Other Deductions (iii) Tax Old Regime (iv) Tax New Regime (v) Form 16
The steps to use the tool are as given below –
(i) Salary –
- Are You an Employee of The “NPS” Yes Or No (Select This Cell)
- Select Your City – Rural Or Urban.
- Select Your Grade Pay Level
- Select Are You Senior Citizen “Yes” Or “No”
- Select Bonus “Yes” Or “No”
- Mention Your School Name Or Office Name.
- Fill Employee Personal Data.
- Fille Basic Payment of March 2022.
(ii) Other Deductions –
- Fill Other Deductions whose Income tax Exemption you want.
(iii) Old Tax Regime –
- This sheet will show the Calculation as per the old income tax calculation by the Income Tax Department.
- This sheet will be Prepared Automatically, in which you will see all the Calculations of your Income Tax.
(iv) New Tax Regime –
- This sheet will show the Calculation as per the New income tax calculation by the Income Tax Department.
- This sheet will be Prepared Automatically, in which you will see all the Calculations of your Income Tax.
Tax slabs under Old V/s New Tax regime
INCOME RATES & SLAB RATES FOR F.Y. 2022-23
(Income Tax Rates & Slab for Individuals & HUF)
| Taxable income | Tax Rate (Old Tax Regime) |
Tax Rate (New Tax Regime) |
| Up to Rs. 2,50,000 | Nil | Nil |
| Rs. 2,50,001 to Rs. 5,00,000 | 5% (tax rebate u/s 87a is available) | 5% (tax rebate u/s 87a is available) |
| Rs. 5,00,001 to Rs. 7,50,000 | 20% | 10% |
| Rs. 7,50,001 to Rs. 10,00,000 | 20% | 15% |
| Rs. 10,00,001 to Rs. 12,50,000 | 30% | 20% |
| Rs. 12,50,001 to Rs. 15,00,000 | 30% | 25% |
| Above Rs. 15,00,000 | 30% | 30% |
Note:- Under the old tax regime, the basic exemption limit for a person of 60 years old or more but less than 80 years old is ₹ 3,00,000 and for person 80 years old or more is ₹ 5,00,000 Under the New tax regime tax slab is the same for all individuals irrespective of their age
Health & Education Cess – 4%
Uttar Pradesh Incometax Calculator Fy 2022-23 In Excel |
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How to calculate Income Tax?
We will try to understand the Old Tax Regime and the New
Tax Regime with the help of an Example.
Example:-
A Person whose age is less than 60 years and his Annual Income from all types of sources is 1500000 Rs.
We will try to know the difference between the tax of the old tax system and the new tax system.
| Old Tax Regime (FY 2022-23) | New Tax Regime (FY 2022-23) | |||
| Gross Income | 13,50,000 Rs. | Gross Income | 13,50,000 Rs. | |
| Total Deductions | 2,50,000 Rs. | Total Deductions | 0 Rs. | |
| Taxable Income | 11,00,000 Rs. | Taxable Income | 13,50,000 Rs. | |
| Tax On Taxable Income | 1,42,500 Rs. | Tax On Taxable Income | 1,50,000 Rs. | |
| Surcharge | 0 Rs. | Surcharge | 0 Rs. | |
| Health & Education Cess | 5,700 Rs. | Health & Education Cess | 6,000 Rs. | |
| Total Tax Payble | 1,48,200 Rs. | Total Tax Payble | 1,56,000 Rs. | |
A Person whose age of 60 to 80 years and his Annual Income from all types of sources is 1500000 Rs.
| Old Tax Regime (FY 2022-23) | New Tax Regime (FY 2022-23) | |||
| Gross Income | 13,50,000 Rs. | Gross Income | 13,50,000 Rs. | |
| Total Deductions | 2,50,000 Rs. | Total Deductions | 0 Rs. | |
| Taxable Income | 11,00,000 Rs. | Taxable Income | 13,50,000 Rs. | |
| Tax On Taxable Income | 1,40,000 Rs. | Tax On Taxable Income | 1,50,000 Rs. | |
| Surcharge | 0 Rs. | Surcharge | 0 Rs. | |
| Health & Education Cess | 5,600 Rs. | Health & Education Cess | 6,000 Rs. | |
| Total Tax Payble | 1,45,600 Rs. | Total Tax Payble | 1,56,000 Rs. | |
A Person whose age of Above 80 years and his Annual Income from all types of sources is 1500000 Rs.
| Old Tax Regime (FY 2022-23) | New Tax Regime (FY 2022-23) | |||
| Gross Income | 13,50,000 Rs. | Gross Income | 13,50,000 Rs. | |
| Total Deductions | 2,50,000 Rs. | Total Deductions | 0 Rs. | |
| Taxable Income | 11,00,000 Rs. | Taxable Income | 13,50,000 Rs. | |
| Tax On Taxable Income | 1,30,000 Rs. | Tax On Taxable Income | 1,50,000 Rs. | |
| Surcharge | 0 Rs. | Surcharge | 0 Rs. | |
| Health & Education Cess | 5,200 Rs. | Health & Education Cess | 6,000 Rs. | |
| Total Tax Payble | 1,35,200 Rs. | Total Tax Payble | 1,56,000 Rs. | |
Note:- This is assuming the following deductions for income taxed under the old regime. If a person opts to pay tax under the new regime, none of these deductions would be available.
- Standard deduction of ₹ 50,000 under Section 16
- Deduction under Section 80C of ₹ 1,50,000 and under Section 80CCD(1B) of ₹ 50,000 (used for investments in NPS)
- Deduction of ₹ 25,000 for Mediclaim premium under Section 80D
These figures also do not include any HRA exemption or loss from a self-occupied house that one can claim. There are other deductions that are available under the old tax regime under various Sections. Just to name give a few examples, Section 80G for charity, Section 80E for interest on education loan and others.
Uttarakhand State Incometax Calculation 2022-23 In Excel