Income Tax Calculator FY 2013 14

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tax clculator
Name
PAN Number
Birth date 7-Oct-81
Age 32
Gross Annual Income/Salary (with all allowances) 1,500,000 1,500,000
Less: Allowances exempt u/s 10(for Service Period) -191,862
(I) H.R.A. exemption 191,862
City of Residence Metro
Basic Salary (Basic+DA) 383,724 191,862
Rent Paid 231,000 192,628
H.R.A received 231,000 231,000
(II) Conveyance allowances(Max Rs.800/-p.m) 0 0
(iii) Any Other Exempted Receipts/ allowances 0 0
(iv) Professional Tax 0 0
Income under the head salaries 1,308,138
Add: Any other income from other sources 100,000 100,000
1. Interest received from following Investments
a. Bank ( Saving /FD /Rec ) 0
b. N.S.C.(accrued/ Recd ) 0
c. Post Ofice M.I.S (6 yrs.) 0
d. Post Office Recring Deposit (5 yrs.) 0
2. Any Other Income 0
3. Any Other Income 100,000
Less: Exemption on Home Loan Interest (Sec 24 & Sec 80EE) -270,000
Income from house property (Section 24) 150,000 -150,000
Additional 1 Lakh exemption on Home Loan Interest (Sec 80EE) 90,000 -90,000
Interest paid on Home Improvement Loan (max 30,000) 35,000 -30,000
Gross Total Income 1,138,138
Less: Deduction under Sec 80C (Max Rs.1,00,000/-) 100,000 -100,000
A. EPF & VPF Contribution 41,861
B. Public Provident Fund (PPF) 20,379
C. Senior Citizen’s Saving Scheme (SCSS) 0
D. N.S.C (Investment + accrued Interest before Maturity Year) 0
E. Tax Saving Fixed Deposit (5 Years and above) 61,336
F. Tax Savings Bonds 0
G. E.L.S.S (Tax Saving Mutual Fund) 0
H. Life Insurance Premiums 0
I. New Pension Scheme (NPS) (u/s 80CCC) 0
J. Pension Plan from Insurance Companies/Mutual Funds (u/s 80CCC) 0
K. 80 ccd Central Govt. Employees Pension Plan (u/s 80CCD) 0
L. Housing. Loan (Principal Repayment) 0
M. Stamp Duty & Registration Charges 0
N. Tuition fees for 2 children 0
Less: Deduction under RGESS Sec 80CCG (Max Rs. 50,000/-) 50,000 -25,000
Less: Deduction under chapter VI A -7,200
A. 80 D Medical Insurance premiums (for Self ) 0 0
B. 80 D Medical Insurance premiums (for Parents) 6,200 6,200
C. 80 E Int Paid on Education Loan 1,000 1,000
D. 80 DD Medical Treatment of handicapped Dependent 0 0
Income Tax Calculator for FY 2013-14
www.ApnaPlan.com
Amit Kumar
AXXXXXXXX
Sec 80EE
2013
buyers with home purchase
lakh and loan of less than Rs. 25 lakhs
You can take Tax Benefit on both
In case of any queries Click here.
Choose
Read more about
Click here to choose the
Click here to choose the
Fill up only the Orange Cells
For Income Tax purpose
Mumbai, Chennai & Kolkatta are
considered as metro cities.
Gurgaon etc are Non
This calculator only
one house. The maximum exemption on
Home Loan interest is Rs. 1.5 lakhs.
Interest up to Rs 10,000 in Saving Bank
Account
So deduct Rs 10,000 while entering
interest income from Saving account.
All interest received via FD is taxable.
Page 1
tax clculator
E. 80DDB Expenditure on Selected Medical Treatment for self/ dependent 0 0
F. 80G, 80GGA, 80GGC Donation to approved funds 0 0
G. 80GG For Rent in case of no HRA Component 0 0
H. 80U For Physically Disable Assesse 0 0
I. Any other 0 0
Total Income 1,005,938
Tax Rebate of Rs. 2,000 (For Income of less than 5 lakhs) 0
Total Tax Payable 131,781
Tax Surcharge @ 10% (For Income of more than 1 Crore) 0
Add; Edn Cess @ 3% 3,953
Net Tax Payable 135,735
Tax to Total Income Ratio 8%
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.
A Tax Rebate of Rs. 2,000 has been given in
Chapter VI Deduction
Page 2
tax clculator
#####
Sec 80EE has been introduced in Budget
2013-14 and is valid for first time home
buyers with home purchase under Rs 40
lakh and loan of less than Rs. 25 lakhs .
Click here for details.
You can take Tax Benefit on both HRA &
Home Loan.
In case of any queries Click here.
Click here to
Choose the best investment under 80C.
Read more about RGESS at Apnaplan.com
Click here to choose the Best Tax Saving
Fixed Deposit rates from banks
Click here to choose the Best Tax Saving
Mutual Funds (ELSS)
Click Here in case of any doubt on
Education Loan Tax Exemption
Fill up only the Orange Cells
For Income Tax purpose - only Delhi,
Mumbai, Chennai & Kolkatta are
considered as metro cities. Noida,
Gurgaon etc are Non-metro cities.
This calculator only works for people with
one house. The maximum exemption on
Home Loan interest is Rs. 1.5 lakhs.
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.
For any Queries write to -
[email protected]
Page 3
tax clculator
Education Loan Tax Exemption
A Tax Rebate of Rs. 2,000 has been given in
Budget 2013 u/s 87A for people with
income less than Rs 5 Lakhs
Income here means Gross Income -
Chapter VI Deduction - 80 C Deduction
Click for more details
Want to Save more taxes?
Click here to Download a simple presentation on Tax
Saving!
Page 4

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