Income-Tax-Calculator-FY-2015-16.xlsx
Content
tax clculator
Income Tax Calculator for FY 2015-16
www.ApnaPlan.com
Shakeeb Khan
AXXXXXXXX
Name
PAN Number
Birth date
Age
Gross Annual Income/Salary (with all allowances)
Less: Allowances exempt u/s 10(for Service Period)
1,000,006
(I) H.R.A. exemption
Non-Metro
249,996
120,000
130,152
20,400
0
0
City of Residence
Basic Salary (Basic+DA)
Rent Paid
H.R.A received
(II) Conveyance allowances(Max Rs.1600/-p.m)
(iii) Any Other Exempted Receipts/ allowances
(iv) Professional Tax
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
0
0
0
0
0
0
3. Any Other Income
Less: Exemption on Home Loan Interest (Sec 24)
Income from house property (Section 24)
Interest paid on Home Improvement Loan (max 30,000)
150,000
50,000
Gross Total Income
Less: Deduction under Sec 80C (Max Rs.1,50,000/-)
A. EPF & VPF Contribution
B. Public Provident Fund (PPF)
C. Senior Citizen’s Saving Scheme (SCSS)
D. N.S.C (Investment + accrued Interest before Maturity Year)
E. Tax Saving Fixed Deposit (5 Years and above)
F. Tax Savings Bonds
G. E.L.S.S (Tax Saving Mutual Fund)
H. Life Insurance Premiums
I. New Pension Scheme (NPS) (u/s 80CCC)
Page 1
72,080
0
0
0
61,336
0
0
100,000
0
tax clculator
J. Pension Plan from Insurance Companies/Mutual Funds (u/s 80CCC)
K. 80 ccd Central Govt. Employees Pension Plan (u/s 80CCD)
L. Housing. Loan (Principal Repayment)
M. Sukanya Samriddhi Account
N. Stamp Duty & Registration Charges
O. Tuition fees for 2 children
Less: Additional Deduction under Sec 80CCD(1B) NPS (Max Rs 50,000/-)
Less: Deduction under RGESS Sec 80CCG (Max Rs. 50,000/-)
Less: Deduction under chapter VI A
A. 80 D Medical Insurance premiums (for Self )
B. 80 D Medical Insurance premiums (for Parents)
C. 80 E Int Paid on Education Loan
D. 80 DD Medical Treatment of handicapped Dependent
E. 80DDB Expenditure on Selected Medical Treatment for self/ dependent
F. 80G, 80GGA, 80GGC Donation to approved funds
G. 80GG For Rent in case of no HRA Component
H. 80U For Physically Disable Assesse
I. Any other
0
0
0
0
0
100,000
50,000
0
15,179
0
0
0
0
0
0
0
Total Income
Tax Rebate of Rs. 2,000 (For Income of less than 5 lakhs)
Total Tax Payable
Tax Surcharge @ 10% (For Income of more than 1 Crore)
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 res
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 a
encouraged to consult your Tax Advisor before taking any decesion based on this calculator.
Page 2
tax clculator
5-16
For any Queries write to [email protected]
m
Shakeeb Khan
AXXXXXXXX
Fill up only the Orange
31-Mar-16Cells
30-Dec-79
36
1,000,006
-114,200
95,000
99,998
95,000
130,152
19,200
0
0
You can take Tax Benefit on both
HRA & Home Loan.
In case of any queries Click here.
885,806
0
For Income Tax purpose - only
Delhi, Mumbai, Chennai &
Kolkatta are considered as
metro cities. Noida, Gurgaon etc
are Non-metro cities.
0
-180,000
###
-30,000
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.
This calculator only works for people
with one house. The maximum
exemption on Home Loan interest is
Rs. 2 lakhs [in Budget 2014]
705,806
150,000
-150,000
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)
Page 3
tax clculator
Click here to choose the Best Tax
Saving Mutual Funds (ELSS)
Click Here to know about
Sukanya Samriddhi Account
-50,000
-25,000
-15,179
0
15,179
0
0
0
0
0
0
0
Should you invest Rs 50,000 in NPS
for additional tax benefit? May be
NOT
Read more about RGESS at
Apnaplan.com
Click Here in case of any doubt on
Education Loan Tax Exemption
465,627
-2,000
19,563
0
587
20,150
2%
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!
@gmail.com
nds and family. The usage is restricted
educational purpose only. You are
Page 4
tax clculator
Page 5
tax clculator
e more taxes?
simple presentation on Tax
ing!
Page 6
tax clculator
Page 7
tax clculator
Page 8
tax clculator
Income Tax for General
Tax
0 -250000
250001 - 500000
500001 - 1000000
Tax Slabs Incremental Taxable Inc
-
250,000
21,563
-
500,000
1,000,000
500001 +
-
Total Tax
21,563
Income Tax for Senior Citizen
0 -300000
300001 - 500000
500001 - 1000000
500001 +
Tax
Total Tax
Income Tax for very Senior Citize Tax
0 - 500000
500001 - 1000000
1000001 +
Total Tax
Tax Bracket
250000
0%
250,000
500,000
215627
(34,373)
10%
20%
-534,373
-534373.4
30%
Tax Slabs Incremental Taxable Inc Tax Bracket
300,000
300,000
0%
16,563
500,000
200,000
165,627
10%
- 1,000,000
500,000
(34,373)
20%
-534,373
(534,373)
30%
16,563
Tax Slabs Incremental Taxable Inc Tax Bracket
500,000
500,000
0%
- 1,000,000
500,000
-34,373
20%
(1,000,000)
(534,373)
30%
-
Page 9
tax clculator
Page 10
tax clculator
Page 11
tax clculator
Page 12
Authored by
Lakhotia, a very
renowned tax
consultant and is
regular on CNBC
Awaaz “Tax Guru”
Program. Good
book to understand
your taxes!
As the name
suggests, it’s a
book on retirement
planning written by
P V Subramanyam
a CA and regular
blogger
Blogs at
Subramoney.com
One of the world’s
Best Sellers in
Personal Finance
and one of the
earliest books I
read. Good book
but not everything
relevant for Indian
Audience
Clicking on B
would take you
where you ca
books o
Authored by Manoj
Arora, an engineer
by profession, is a
gold medalist from
Aligarh Muslim
University
Both the books
have been
authored by
Manish who an
avid blogger and
features on PLAN F
program of CNBC.
Blogs at
Jagoinvestor.com
Authored by
Hemant, who is
Certified Financial
Planner and
regular blogger
Blogs at
Tflguide.com
Clicking on Books Image
would take you to Amazon.in
where you can buy these
books online.
Income Tax Calculator for FY 2015-16
www.ApnaPlan.com
Shakeeb Khan
AXXXXXXXX
Name
PAN Number
Birth date
Age
Gross Annual Income/Salary (with all allowances)
Less: Allowances exempt u/s 10(for Service Period)
1,000,006
(I) H.R.A. exemption
Non-Metro
249,996
120,000
130,152
20,400
0
0
City of Residence
Basic Salary (Basic+DA)
Rent Paid
H.R.A received
(II) Conveyance allowances(Max Rs.1600/-p.m)
(iii) Any Other Exempted Receipts/ allowances
(iv) Professional Tax
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
0
0
0
0
0
0
3. Any Other Income
Less: Exemption on Home Loan Interest (Sec 24)
Income from house property (Section 24)
Interest paid on Home Improvement Loan (max 30,000)
150,000
50,000
Gross Total Income
Less: Deduction under Sec 80C (Max Rs.1,50,000/-)
A. EPF & VPF Contribution
B. Public Provident Fund (PPF)
C. Senior Citizen’s Saving Scheme (SCSS)
D. N.S.C (Investment + accrued Interest before Maturity Year)
E. Tax Saving Fixed Deposit (5 Years and above)
F. Tax Savings Bonds
G. E.L.S.S (Tax Saving Mutual Fund)
H. Life Insurance Premiums
I. New Pension Scheme (NPS) (u/s 80CCC)
Page 1
72,080
0
0
0
61,336
0
0
100,000
0
tax clculator
J. Pension Plan from Insurance Companies/Mutual Funds (u/s 80CCC)
K. 80 ccd Central Govt. Employees Pension Plan (u/s 80CCD)
L. Housing. Loan (Principal Repayment)
M. Sukanya Samriddhi Account
N. Stamp Duty & Registration Charges
O. Tuition fees for 2 children
Less: Additional Deduction under Sec 80CCD(1B) NPS (Max Rs 50,000/-)
Less: Deduction under RGESS Sec 80CCG (Max Rs. 50,000/-)
Less: Deduction under chapter VI A
A. 80 D Medical Insurance premiums (for Self )
B. 80 D Medical Insurance premiums (for Parents)
C. 80 E Int Paid on Education Loan
D. 80 DD Medical Treatment of handicapped Dependent
E. 80DDB Expenditure on Selected Medical Treatment for self/ dependent
F. 80G, 80GGA, 80GGC Donation to approved funds
G. 80GG For Rent in case of no HRA Component
H. 80U For Physically Disable Assesse
I. Any other
0
0
0
0
0
100,000
50,000
0
15,179
0
0
0
0
0
0
0
Total Income
Tax Rebate of Rs. 2,000 (For Income of less than 5 lakhs)
Total Tax Payable
Tax Surcharge @ 10% (For Income of more than 1 Crore)
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 res
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 a
encouraged to consult your Tax Advisor before taking any decesion based on this calculator.
Page 2
tax clculator
5-16
For any Queries write to [email protected]
m
Shakeeb Khan
AXXXXXXXX
Fill up only the Orange
31-Mar-16Cells
30-Dec-79
36
1,000,006
-114,200
95,000
99,998
95,000
130,152
19,200
0
0
You can take Tax Benefit on both
HRA & Home Loan.
In case of any queries Click here.
885,806
0
For Income Tax purpose - only
Delhi, Mumbai, Chennai &
Kolkatta are considered as
metro cities. Noida, Gurgaon etc
are Non-metro cities.
0
-180,000
###
-30,000
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.
This calculator only works for people
with one house. The maximum
exemption on Home Loan interest is
Rs. 2 lakhs [in Budget 2014]
705,806
150,000
-150,000
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)
Page 3
tax clculator
Click here to choose the Best Tax
Saving Mutual Funds (ELSS)
Click Here to know about
Sukanya Samriddhi Account
-50,000
-25,000
-15,179
0
15,179
0
0
0
0
0
0
0
Should you invest Rs 50,000 in NPS
for additional tax benefit? May be
NOT
Read more about RGESS at
Apnaplan.com
Click Here in case of any doubt on
Education Loan Tax Exemption
465,627
-2,000
19,563
0
587
20,150
2%
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!
@gmail.com
nds and family. The usage is restricted
educational purpose only. You are
Page 4
tax clculator
Page 5
tax clculator
e more taxes?
simple presentation on Tax
ing!
Page 6
tax clculator
Page 7
tax clculator
Page 8
tax clculator
Income Tax for General
Tax
0 -250000
250001 - 500000
500001 - 1000000
Tax Slabs Incremental Taxable Inc
-
250,000
21,563
-
500,000
1,000,000
500001 +
-
Total Tax
21,563
Income Tax for Senior Citizen
0 -300000
300001 - 500000
500001 - 1000000
500001 +
Tax
Total Tax
Income Tax for very Senior Citize Tax
0 - 500000
500001 - 1000000
1000001 +
Total Tax
Tax Bracket
250000
0%
250,000
500,000
215627
(34,373)
10%
20%
-534,373
-534373.4
30%
Tax Slabs Incremental Taxable Inc Tax Bracket
300,000
300,000
0%
16,563
500,000
200,000
165,627
10%
- 1,000,000
500,000
(34,373)
20%
-534,373
(534,373)
30%
16,563
Tax Slabs Incremental Taxable Inc Tax Bracket
500,000
500,000
0%
- 1,000,000
500,000
-34,373
20%
(1,000,000)
(534,373)
30%
-
Page 9
tax clculator
Page 10
tax clculator
Page 11
tax clculator
Page 12
Authored by
Lakhotia, a very
renowned tax
consultant and is
regular on CNBC
Awaaz “Tax Guru”
Program. Good
book to understand
your taxes!
As the name
suggests, it’s a
book on retirement
planning written by
P V Subramanyam
a CA and regular
blogger
Blogs at
Subramoney.com
One of the world’s
Best Sellers in
Personal Finance
and one of the
earliest books I
read. Good book
but not everything
relevant for Indian
Audience
Clicking on B
would take you
where you ca
books o
Authored by Manoj
Arora, an engineer
by profession, is a
gold medalist from
Aligarh Muslim
University
Both the books
have been
authored by
Manish who an
avid blogger and
features on PLAN F
program of CNBC.
Blogs at
Jagoinvestor.com
Authored by
Hemant, who is
Certified Financial
Planner and
regular blogger
Blogs at
Tflguide.com
Clicking on Books Image
would take you to Amazon.in
where you can buy these
books online.
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