Enclosed here latest tax calculation in Excel sheet along with latest Surcharge rates. Download excel sheet and understood excel formulas.
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Surcharge and Marginal Tax (Below 60)
| Taxable Income From | Taxable Income Upto | Surcharge / Marginal Tax |
| 0 | 5000000 | 0 |
| 5000001 | 5195890 | (Taxable Income – 50Lakh) *70% |
| 5195891 | 10000000 | 10% |
| 10000001 | 10214700 | (Taxable Income – 1CR) *70%+281250 |
| 10214701 | 20000000 | 15% |
| 20000001 | 20930000 | (Taxable Income – 2CR) *70%+871875 |
| 20930001 | 50000000 | 25% |
| 50000001 | 53017830 | (Taxable Income – 5CR) *70%+3703125 |
| 53017831 | > | 37% |
Surcharge and Marginal Tax (Above 60 and Below 80)
| Taxable Income From | Taxable Income Upto | Surcharge / Marginal Tax |
| 0 | 5000000 | 0 |
| 5000001 | 5195530 | (Taxable Income – 50Lakh) *70% |
| 5195531 | 10000000 | 10% |
| 10000001 | 10214510 | (Taxable Income – 1CR) *70%+281000 |
| 10214511 | 20000000 | 15% |
| 20000001 | 20929600 | (Taxable Income – 2CR) *70%+871500 |
| 20929601 | 50000000 | 25% |
| 50000001 | 53017320 | (Taxable Income – 5CR) *70%+3702500 |
| 53017321 | > | 37% |