Income Tax Calculator FY 2010 11

INCOME TAX CALCULATOR FOR FINANCIAL YEAR 2010-11
Instructions :
1.Please enter gross annual figures. 2. Please enter values in Highlighted cells only. DISCLAIMER : This calculator is to help you find out your personal indecative total tax liability. Efforts have been made to cover most of the scenarios of Income, Exemptions, Deductions, etc. However, you are advised to consult any qualified chartered accountant or tax consultant to know your actual Tax Liability.

Assessee Type you are Male or Female (<65 years of age) Specify whether or Sr. Citizen Components of Salary A.1 Basic Salary A.2 House Rent Allowance A.3 Transport Allowance A.4 Medical Reimbursement A.5 Leave Travel Allowance (LTA) A.6 Special Allowance A.7 Bonus A.8 Other Allowances Gross Salary (A) Exemptions/Deductions B.1 House Rent Exemption Annual Rent Paid Assessee Residing in I) 40% of Basic Salary ii) Actual HRA Received iii) Rent Paid minus 10% of Basic Salary Total House Rent Exemption B.2 Transport Allowance B.3 Medical Reimbursement Total (B) Gross Taxable Salary Income (A-B) Income from Housing Reliefe on Interest paid on Housing Loan Any other Income Gross Total Income Deduction under Chapter VIA

Male Annual Amount Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0

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Maximim Limit Under Section Amount Rs.0 Other Cities Rs.0 Rs.0 Rs.0

Amount

Rs.0 U/Sec 10(13A)

Rs.0

Rs.0

Rs.9,600 Rs.15,000

Rs.0 Rs.0

Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0

Rs.150,000 U/S 24(1)(Vi)

Rs.0 Rs.0 Rs.0

FY-09-10

FY-10-11

Under Section Actual Amount Maximim Limit Eligible Amount Maximim Limit Eligible Amount The following tax saving investments may be considered for computation of income tax deduction at source for the financial year. Deduction u/s 80D to 80U U/Sec 80D(2A) Rs.0 Rs.15,000 Rs.0 Rs.15,000 Rs.0 C.1 family

Medical Insurance Premium - for the parent or parents Parents are NOT Sr. U/Sec 80D(2B) citizen C.2 of the assessee

Rs.0

Rs.15,000

Rs.0

Rs.15,000

Rs.0

C.3 Expenditure on Handicapped Dependents / Deposits made with LIC, etc. for maintenance of handicapped Dependents Disability Percentage of the Handicapped Dependents Less than 80% disability U/Sec 80DD Rs.0 Rs.50,000 C.4 Exp. likely to be incurred on specified disease or ailment (Cancer/AIDS etc.) Exp incurred on senior citizen No U/Sec 80DDB C.5 (in case of disability Self Disability Percentage Interest on Education Loan (for self education) from Charitiable or Financial Institution. (No Limit) Total Deduction u/s 80D to 80U C.6

Rs.0

Rs.50,000

Rs.0

Rs.0

Rs.40,000

Rs.0

Rs.40,000

Rs.0

Less than 80% disability U/Sec 80 U

Rs.0

Rs.50,000

Rs.0

Rs.50,000

Rs.0

U/Sec 80E

Rs.0

No Limit

Rs.0 Rs.0

No Limit

Rs.0 Rs.0

Investments under Sections 80C & 80CCC qualifying for contribution w.r.t Rs.1 Lac or Rs.1.2 Self Contribution in Provident Fund. Assessee's rate of PF deductions upto U/Sec 80C D.1 Basic Salary is @ U/Sec 80C D.2 Voluntary Contribution Provident Fund D.3 INVESTMENT IN PENSION SCHEME U/Sec 80 CCC U/Sec 80C D.4 HOUSING LOAN PRINCIPAL REPAYMENT U/Sec 80C D.5 PUBLIC PROVIDENT FUND (PPF) U/Sec 80C D.6 LIFE INSURANCE PREMIUM PAID U/Sec 80C D.7 UNIT LINKED INSURANCE PLANS U/Sec 80C D.8 NSC-NATIONAL SAVING CERTIFICATE U/Sec 80C D.9 DEPOSIT IN NATIONAL SAVING SCHEME (NSS) U/Sec 80C D.10 INFRASTRUCTURE INVESTMENT in approved BONDS U/Sec 80C D.11 MUTUAL FUNDS notified under SECTION 10(23D) notified under SECTION EQUITY LINK SAVING SCHEME(ELSS) Mutual Funds U/Sec 80C D.12 10(23D) TERM DEPOSIT with a SCH.Bank in a notified Scheme for a term not less than 5 years. U/Sec 80C D.13 TUTION FEES PAID (Only full time education tution fees paid to any Indian Univ, College, U/Sec 80C D.14 School) U/Sec 80C D.15 SENIOR CITIZENS SAVINGS SCHEME Rules, 2004 U/Sec 80C D.16 POST OFFICE TIME DEPOSIT Rules, 1981 for a term not less than 5 years Total Deduction u/s 80C and 80CCC Total Deduction under Chapter VIA Net Total Taxable Income Tax on Total Income Add Surcharge Add Education Cess

Lac Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0

12% Rs.10,000

Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0

12% Rs.10,000

Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0 Rs.0

Total Tax Payable in respective Financial Years Total Tax Savings in FY-10-11 with respect to Tax Payable in FY-09-10

Rs.0 Rs.0

Rs.0 0.00%