Salary Tax Calculator

Description
What is Salary or Income Tax?


Income Tax is the tax that you pay on your income. Income Tax is paid by wage earners i.e., salaried class, self-employed and non-incorporated firms. Income Tax is one of the important sources through which a government finances its activities.



Here I present the Salary Tax Template which will ease frustration of calculating the annual tax liability as per relevant tax slabs of the fiscal year.


There is a general practice where annual tax liability is calculated with presumption of employee's joining date from start of the fiscal period whereas in actually, an employee can join regardless i.e. either at start or in between of the fiscal period.


Why its different from other templates available for calculating ANNUAL TAX LIABILITY??


If any employee who joins during the fiscal period, there is a practice where pro rated taxable salary is calculated and then matched with relevant tax slabs. Such practice found to be a lot time consuming and human dependent.


Considering the significance of EFFICIENCY, this model will let you know your taxable salary and tax liability as per the joining date.


This file has no expiry, all required is to update the salary tax slabs as per relevant fiscal year and there you go!