Income Tax Calculator FY 2014 15
Content
Income Tax Calculator FY 2014-15
Particulars
Details
Gross Income (CTC)
Salary, Bonus, Allowances, Other income etc
HRA Exemptions u/s 10 A
HRA Calculation below
Other Exemptions u/s 10 A Medical, Convenyance etc
Professional Tax
Professional Tax
Net Income under Salaries
Gross Income - Exemptions
Deductions u/s 80 C
Investments in PF, PPF, Life Ins., ELSS, NPS etc
Deductions u/s 80 CCG
Investments in RGESS (50% of Investments)
Deductions u/s 80 D
Medical Insurance Premium (Self, Parents)
Deductions u/s 80 G
Eligible Donations upto specified percentage
Deductions u/s 80 E
Interest Paid on Education Loan
Deduction u/s 80 TTA
Interest Received on Savings Bank A/C
Tax Benefit u/s 24
Interest Paid On Home Loan (Max 2 L)
Total Deductions/Benefits
Taxable Income
Tax payable on this income
Tax Slab
Slab Income
Income Tax Payee Type
Male, Female, Sr. Citizen>60, Very Sr. Citizen>80
250,000
250,000
500,000
250,000
1,000,000
438,900
10,00,000+
-
Tax on Total Income
Surcharge
10% on Tax if Income > Rs 1 Crore
Tax with Surcharge
Education Cess
Tax with Cess
Tax Credit
Upto Rs. 2000 if Taxable Income < Rs. 5 lakhs
Tax Liability
Income Tax Ratio
Monthly Income
Gross Income/12
Monthly Tax (Appx TDS)
Tax Liability/12
Income Tax Ratio
Gross Income/Tax Liability
HRA Exemption Calculator
City living in
Basic Salary + DA
HRA Received
Actual Rent Paid
Least of the following will be HRA Exemption
1
HRA Receieved
2
% of Salary+DA (50%-Metro & 40%-Non-metro)
3
Rent paid in excess of 10 % of salary
Copyright - Network FP l Created by - Sadique Neelgund, CFPCM, Founder, Network FP l Applicable for
To learn how to build 50+ financial calculators/templates, integrate them with each other and prep
014-15
Type
Amount in Rs.
Input
1,500,000
Input
99,000
Input
24,600
Input
2,500
Output
1,373,900
Input
150,000
Input
25,000
Input
15,000
Input
20,000
Input
15,000
Input
10,000
Input
200,000
435,000
Output
Tax Rate
Input
0%
938,900
Tax Amount
Male
-
10%
25,000
20%
87,780
30%
Output
10%
112,780
-
Output
112,780
3%
3,383
Output
116,163
Output
-
Output
116,163
Output
125,000
Output
9,680
Output
7.74%
Input
Input
Metro
450,000
Input
144,000
Input
144,000
99,000
Output
144,000
Output
225,000
Output
99,000
ork FP l Applicable for FY 2013-14
each other and prepare a Financial Plan covering all aspects of Personal Finance, register for Network FP's fla
Particulars
Details
Gross Income (CTC)
Salary, Bonus, Allowances, Other income etc
HRA Exemptions u/s 10 A
HRA Calculation below
Other Exemptions u/s 10 A Medical, Convenyance etc
Professional Tax
Professional Tax
Net Income under Salaries
Gross Income - Exemptions
Deductions u/s 80 C
Investments in PF, PPF, Life Ins., ELSS, NPS etc
Deductions u/s 80 CCG
Investments in RGESS (50% of Investments)
Deductions u/s 80 D
Medical Insurance Premium (Self, Parents)
Deductions u/s 80 G
Eligible Donations upto specified percentage
Deductions u/s 80 E
Interest Paid on Education Loan
Deduction u/s 80 TTA
Interest Received on Savings Bank A/C
Tax Benefit u/s 24
Interest Paid On Home Loan (Max 2 L)
Total Deductions/Benefits
Taxable Income
Tax payable on this income
Tax Slab
Slab Income
Income Tax Payee Type
Male, Female, Sr. Citizen>60, Very Sr. Citizen>80
250,000
250,000
500,000
250,000
1,000,000
438,900
10,00,000+
-
Tax on Total Income
Surcharge
10% on Tax if Income > Rs 1 Crore
Tax with Surcharge
Education Cess
Tax with Cess
Tax Credit
Upto Rs. 2000 if Taxable Income < Rs. 5 lakhs
Tax Liability
Income Tax Ratio
Monthly Income
Gross Income/12
Monthly Tax (Appx TDS)
Tax Liability/12
Income Tax Ratio
Gross Income/Tax Liability
HRA Exemption Calculator
City living in
Basic Salary + DA
HRA Received
Actual Rent Paid
Least of the following will be HRA Exemption
1
HRA Receieved
2
% of Salary+DA (50%-Metro & 40%-Non-metro)
3
Rent paid in excess of 10 % of salary
Copyright - Network FP l Created by - Sadique Neelgund, CFPCM, Founder, Network FP l Applicable for
To learn how to build 50+ financial calculators/templates, integrate them with each other and prep
014-15
Type
Amount in Rs.
Input
1,500,000
Input
99,000
Input
24,600
Input
2,500
Output
1,373,900
Input
150,000
Input
25,000
Input
15,000
Input
20,000
Input
15,000
Input
10,000
Input
200,000
435,000
Output
Tax Rate
Input
0%
938,900
Tax Amount
Male
-
10%
25,000
20%
87,780
30%
Output
10%
112,780
-
Output
112,780
3%
3,383
Output
116,163
Output
-
Output
116,163
Output
125,000
Output
9,680
Output
7.74%
Input
Input
Metro
450,000
Input
144,000
Input
144,000
99,000
Output
144,000
Output
225,000
Output
99,000
ork FP l Applicable for FY 2013-14
each other and prepare a Financial Plan covering all aspects of Personal Finance, register for Network FP's fla
