Click above link to download the All in One Income Tax Calculator for Financial Year 2014-15 ( This Excel Utility can prepare at a time Tax Compute Sheet + HRA Exemption+Form 16 Part A&B and Part B only for Private Employees)
Section 87A after Budget 2014
Thus assessee having gross total income between Rs.2.5 lakh to Rs.5 lakh are still able to reduce their tax liability by Rs 2,000. Essentially, there is NIL tax liability for annual incomes up to Rs.2.70 lakh. Calculate your Income tax by this Excel Based Income Tax Preparation Software for the Financial Year 2014-15
Now the tax will be calculated for the current year after giving effect to section 87A.