Income Tax Calculator FY 2012 13
Content
tax clculator
Income Tax Calculator for FY 2012-13
www.ApnaPlan.com
Name: Pan Number:
Amit Kumar AVXXXXXXXX
Birth date
Age
7-Oct-81 31
Gross Annual Income/Salary (with all allowances) Less: Allowances exempt u/s 10(for Service Period)
(I) H.R.A. exemption City of Residence Basic Salary (Basic+DA) Rent Paid H.R.A received (II) Conveyance allowances(Max Rs.800/-p.m) (iii) Any Other Exempted Receipts/ allowances (iv) Professional Tax
800,000 153,490 Non-Metro 383,724 231,000 191,862 0 0 0 153,490 192,628 191,862 0 0 0 100,000 0 0 0 0 0 100,000 150,000 30,000 100,000 41,861 20,379 0 0 61,336 0 0 0 0 0 50,000
Income under the head salaries Add: Any other income from other sources
1. Interest received from following Investments a. Bank ( Saving /FD /Rec ) b. N.S.C.(accrued/ Recd ) c. Post Ofice M.I.S (6 yrs.) d. Post Office Recring Deposit (5 yrs.) 2. Any Other Income 3. Any Other Income
Income from house property (Sec 24)
Less: Interest paid on housing loan(max 150,000) Less: Interest paid on Home Improvement Loan (max 30,000)
Gross Total Income Less: Deduction under Sec 80C (Max Rs.1,00,000/-)
a. EPF & VPF Contribution b. Life Insurance premiums c. PPF a/c Contribution d. N.S.C (Investment +accrued Int first five year) e. Housing. Loan (Principal Repayment ) f. Tuition fees for 2 children g. E.L.S.S(Mutual Fund) h. Tax Savings Bonds I. FD (5 Years and above) j. 80 ccc Pension Plan
Less: Deduction under RGESS Sec 80CCG (Max Rs. 50,000/-)
Page 1
tax clculator
Less: Deduction under chapter VI A
b. 80 D Medical Insurance premiums (for Self ) c. 80 D Medical Insurance premiums (for Parents) d. 80 E Int Paid on Education Loan e. 80G Donation to approved fund f. Any other
0 6,200 1,000 0 0
0 6,200
Total Income
Total Tax Payable Add; Edn Cess @ 3%
Net Tax Payable
Tax to Total Income Ratio
In case of any queries or doubts please mail at - [email protected] Terms of Usage: I encourage you to share this Income Tax Calculator for benefit of your friends and family. The usage is restricted to non commercial use only.
Disclaimer: All care has been taken to keep the information upto date and correct and is for educational purpose only. You are encouraged to consult your Tax Advisor before taking any decesion based on this calculator.
Page 2
tax clculator
For any Queries write to [email protected]
Amit Kumar AVXXXXXXXX
Fill up only the Orange Cells 31-Mar-13
800,000 -153,490
For Income Tax purpose - only Delhi, Mumbai, Chennai & Kolkatta are considered as metro cities. Noida, Gurgaon etc are Nonmetro cities. You can take Tax Benefit on both HRA & Home Loan. In case of any queries Click here.
646,510 100,000
Interest up to Rs 10,000 in Saving Bank Account is not taxable under Sec 80TTA. So deduct Rs 10,000 while entering interest income from Saving account. All interest received via FD is taxable.
-180,000
This calculator only works for people with one house. The maximum exemption on Home Loan interest is Rs. 1.5 lakhs.
566,510 -100,000
Click here to Choose the best investment under 80C. Click here to choose the Best Tax Saving Fixed Deposit rates from banks Click here to choose the Best Tax Saving Mutual Funds (ELSS)
-25,000
Read more about RGESS at Apnaplan.com
Page 3
tax clculator Read more about RGESS at Apnaplan.com -7,200
Click Here in case of any doubt on Education Loan Tax Exemption
434,310 23,431 703
24,134
3%
Want to Save more taxes?
Click here to Download a simple presentation on Tax Saving!
l.com
riends and family. The
or educational purpose n this calculator.
Page 4
Income Tax Calculator for FY 2012-13
www.ApnaPlan.com
Name: Pan Number:
Amit Kumar AVXXXXXXXX
Birth date
Age
7-Oct-81 31
Gross Annual Income/Salary (with all allowances) Less: Allowances exempt u/s 10(for Service Period)
(I) H.R.A. exemption City of Residence Basic Salary (Basic+DA) Rent Paid H.R.A received (II) Conveyance allowances(Max Rs.800/-p.m) (iii) Any Other Exempted Receipts/ allowances (iv) Professional Tax
800,000 153,490 Non-Metro 383,724 231,000 191,862 0 0 0 153,490 192,628 191,862 0 0 0 100,000 0 0 0 0 0 100,000 150,000 30,000 100,000 41,861 20,379 0 0 61,336 0 0 0 0 0 50,000
Income under the head salaries Add: Any other income from other sources
1. Interest received from following Investments a. Bank ( Saving /FD /Rec ) b. N.S.C.(accrued/ Recd ) c. Post Ofice M.I.S (6 yrs.) d. Post Office Recring Deposit (5 yrs.) 2. Any Other Income 3. Any Other Income
Income from house property (Sec 24)
Less: Interest paid on housing loan(max 150,000) Less: Interest paid on Home Improvement Loan (max 30,000)
Gross Total Income Less: Deduction under Sec 80C (Max Rs.1,00,000/-)
a. EPF & VPF Contribution b. Life Insurance premiums c. PPF a/c Contribution d. N.S.C (Investment +accrued Int first five year) e. Housing. Loan (Principal Repayment ) f. Tuition fees for 2 children g. E.L.S.S(Mutual Fund) h. Tax Savings Bonds I. FD (5 Years and above) j. 80 ccc Pension Plan
Less: Deduction under RGESS Sec 80CCG (Max Rs. 50,000/-)
Page 1
tax clculator
Less: Deduction under chapter VI A
b. 80 D Medical Insurance premiums (for Self ) c. 80 D Medical Insurance premiums (for Parents) d. 80 E Int Paid on Education Loan e. 80G Donation to approved fund f. Any other
0 6,200 1,000 0 0
0 6,200
Total Income
Total Tax Payable Add; Edn Cess @ 3%
Net Tax Payable
Tax to Total Income Ratio
In case of any queries or doubts please mail at - [email protected] Terms of Usage: I encourage you to share this Income Tax Calculator for benefit of your friends and family. The usage is restricted to non commercial use only.
Disclaimer: All care has been taken to keep the information upto date and correct and is for educational purpose only. You are encouraged to consult your Tax Advisor before taking any decesion based on this calculator.
Page 2
tax clculator
For any Queries write to [email protected]
Amit Kumar AVXXXXXXXX
Fill up only the Orange Cells 31-Mar-13
800,000 -153,490
For Income Tax purpose - only Delhi, Mumbai, Chennai & Kolkatta are considered as metro cities. Noida, Gurgaon etc are Nonmetro cities. You can take Tax Benefit on both HRA & Home Loan. In case of any queries Click here.
646,510 100,000
Interest up to Rs 10,000 in Saving Bank Account is not taxable under Sec 80TTA. So deduct Rs 10,000 while entering interest income from Saving account. All interest received via FD is taxable.
-180,000
This calculator only works for people with one house. The maximum exemption on Home Loan interest is Rs. 1.5 lakhs.
566,510 -100,000
Click here to Choose the best investment under 80C. Click here to choose the Best Tax Saving Fixed Deposit rates from banks Click here to choose the Best Tax Saving Mutual Funds (ELSS)
-25,000
Read more about RGESS at Apnaplan.com
Page 3
tax clculator Read more about RGESS at Apnaplan.com -7,200
Click Here in case of any doubt on Education Loan Tax Exemption
434,310 23,431 703
24,134
3%
Want to Save more taxes?
Click here to Download a simple presentation on Tax Saving!
l.com
riends and family. The
or educational purpose n this calculator.
Page 4
