GConnect Income Tax Calculator for Pensioners – FY 2018-19 (Assessment Year 2019-20)

Income Tax Calculator 2018-19 for Central Government Pensioners launched – Simple and effective Income Tax Calculation Tool exclusively based on Central Government Pension income, and deductions allowed for Pensioners.

GConnect has been providing up to date Income Tax Tool for  Central Government Employees and Pensioners every year. Many of the Pensioners who are active users of GConnect have been requesting very long for exclusive Income Tax Calculator for Pensioners for ease of use.

This year we could launch the Income Tax Tool exclusively for Central Government Pensioners. Of course, this tool would be very easy to use as it contains only pensioners related entry fields.

Click here to reach to Income Tax Calculator 2018-19 for Pensioners

What are the changes in Income tax 2018-19 for Pensioners and Senior Citizens

How to use Income Tax Calculator 2018-19 for Pensioners ?

This Income Tax Tool has 3 main Sections

1. Income, Savings and Deductions Entry Form

2. Income Tax Work Sheet meant for review and editing if needed

3. Income Tax Statement

How to fill up Income, Savings and Deductions Entry Form ?

Income Tax Calculator 2018-19 for PensionersAs said earlier, the Entry form contains the input fields mainly meant for Pensioners. These are divided in to following sub sections to make entry work easier. Select the Tabs with the following titles to enter the details.

1. Personal Details

2. Pension Income

3. Deductions

4. Savings

5. Exemption on Housing Loan Interest

Note:

Tool-tip:

Description of each field in the entry form contains tool tip for detailed Note / explanation about the field in which value has to be entered. To have a look at the same, place the mouse pointer on the description of each field.

GConnect income Tax Calculator 2017-18

Document Link for easy reference:

Wherever needed, documents containing the provisions of Income Tax Act and Rules have been linked with the fields concerned so that user can go through the income tax provisions before making entry in the relevant field.

GConnect Income Tax Calculator 2017-18

Once all the values are entered, select tab titled as “Calculate Tax” and Click the Calculate Tax Button.

Now Income Tax Work Sheet is ready for review and for editing if necessary.

Income Tax work sheet:

GConnect Income Tax Calculator for Pensioners 2018-19The First Tab in the work sheet is the Summary of Income, Savings and Deductions entered and calculated values of Gross Income, Taxable Income and Income Tax to be Paid.

The second Tab in the work sheet contains the month wise Pension Income.

The other tabs contains the breakup of savings, deductions, and income tax to be paid.

Review the Income Tax Sheet and if you find that all the details entered by you are correct click the Generate Income Tax Statement Button to get the printable Income Tax Statement and work sheet.

Income Tax Work Sheet can also be edited if any values in the middle of the year changes due to revision of Pension, update of additional deductions or savings etc. If any part of work sheet is edited revised income tax will be calculated.

Printable Income Tax Statement and Work sheet:

Generate Income Tax Statement by clicking Generate Income Tax Button. Now Printable Income tax statement and work sheet are ready.

 

Click here to reach to Income Tax Calculator 2018-19 for Pensioners

Click here for regular Income Tax Tool 2018-19

What are the changes in Income tax 2018-19 for Pensioners and Senior Citizens

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