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DISCLAIMER This tax calculator can be used to calculate the approximate tax payable by salaried individuals. This should NOT be used to compute the actual taxes to be paid to the Government. The author is not resposible for any inaccuracies in the tax computed by this calculator. If you find any inconsistency, please let me know and I will try to fix it at the earliest
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Available for free download at: http://taxcalc.ynithya.com/ email: taxcalc@ynithya.com HOW TO GET AN UPDATE / CONTACT ME
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This tax calculator constantly gets updated to fix errors found as well as to add new features This may also be changed when there are changes in tax rules that affect income tax computation The latest version of this tool is available for free download from the Internet at http://taxcalc.ynithya.com/ Please check back frequently (at least once every 2 months) to see that you have the latest version. You can compare the version number at the top of this instructions page. However, if you have subscribed, you will automatically receive updates You can also send a blank e-mail to taxcalc@ynithya.com with only the subject line as "SEND TAXCALC" and the latest version of tax calculator will be emailed to you within a day or two If you want me to send you a new version whenever I update, please send a blank e-mail to taxcalc@ynithya.com with only the subject as "SUBSCRIBE". There are no charges for subscription If you find any inaccuracy in the calculation or want clarification on some aspect of the tax calculator, please send an e-mail totaxcalc@ynithya.com with subject as "CLARIFICATION" and I will try to reply within a week If you are already on my list and no longer want to get updates, send a blank e-mail to taxcalc@ynithya.com with only the subject as "UNSUBSCRIBE"
While sending e-mail, please ensure that the subject line is exactly as given here (without the quotes), because the processing is done automatically. Other mails will be deleted automatically Since I am not a chartered accountant or a tax consultant, I am not in a position to answer specfic queries related to taxation. You will have to contact a tax consultant for your specific queries
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1/7/2012
Income Tax Projections for Financial Year 2011-12 PLEASE ENTER YOUR NAME HERE
Incl PF? Y Y N N N N N N N N N N N N N N N N Apr 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 May 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Jun 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Jul 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Aug 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Sep 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Oct 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Nov 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Dec 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Jan 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Feb 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Mar 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Perks Bonus Others Gross 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
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Basic DA Convey HRA Ch. Educ Medical LTA Uniform All. Misc Misc Misc Misc Misc Misc Misc Misc Misc Misc Total Prof tax PF VPF IT Rent Life Insur. Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Tot Ded Net
Earnings
0 0 0 0 0
0 0
0 0
Deductions
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1/7/2012
Income Tax Projections for Financial Year 2011-12 PLEASE ENTER YOUR NAME HERE
Tax Computation Gross Salary Profession Tax Exemptions under section 10 & 17 Gross Salary after Section 10 & 17 exemptions Accommodation & Car Perquisites Income chargeable under head 'Salaries' Income chargeable under head 'House/Property' Income chargeable under head 'Capital Gains' at nominal rate Income chargeable under head 'Other Sources' Gross Total Income Deductions under chapter VI-A Deductions under sec 80C Net taxable income Tax Slabs 00000 - 180000 180001 - 500000 500001 - 800000 > 800000 Tax on Income Capital Gains Tax (from Stocks) Education Cess Total Tax Liability Total Income tax paid from salary Tax paid outside of salary Income tax due Remaining months in year Tax rate 0% 10% 20% 30% Appl Amt 0 0 0 0 Balance 0 0 0 Exemptions under section 10 & 17 HRA Exemption (Sec 10 (13A)) Transport Exemption (Sec 10(14)) Other exemptions under Sec 10 (10) (gratuity, etc.) Medical Bills Exemption (Sec 17(2)) Children's Education Allowance Exemption (sec 10 (14)) LTA exemption (Sec 10(5)) Uniform expenses (Sec 10(14)) Total Exempted Allowances Other income House/property income or loss (enter loss as negative) Interest on housing loan (for tax exemption) Other income (interest, etc.) Deductions under Chapter VI-A Medical Insurance Premium (sec 80D) Medical Insurance Premium for parents (sec 80D) Medical for handicapped dependents (Sec 80DD) Medical for specified diseases (Sec 80DDB) Higher Education Loan Interest Repayment (Sec 80E) Donation to approved fund and charities (sec 80G) Rent deduction (sec 80GG) only if HRA not received Deduction for permanent disability (80U) Any other deductions Total Deductibles Deductions under Chapter VI (sec 80C) Pension scheme (sec 80C) NSC (sec 80C) Public Provident Fund (sec 80C) Employees Provident Fund & Voluntary PF (sec 80C) Children's Education Tuition Fees (sec 80C) Housing loan principal repayment (sec 80C) Insurance premium & others (MF, ULIP, FD, etc.) (sec 80C) Long-term Infrastructure Bonds (sec 80CCF) Total Investments Produced 0 0 0 0 0 0 Produced 0 0 0 Produced 0 0 0 0 0 0 0 0 Produced 0 0 0 0 0 0 0 0 Limited 0 0 0 0 0 0 0 0 Limited 0 0 0 Limited 0 0 0 0 0 0 0 0 0 0 Limited 0 0 0 0 0 0 0 0 0
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0 0 0 0 0 0 0 0 0 0 0 0 0 Tax 0 0 0 0 0 0 0 0 0 0 0 12
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100 0.00% 0 0
50 4.00% 0 0
36 0.00% 0 0
36 4.00% 0 0
10 0.00% 0 0
36 0.00% 0 0
15 0.00% 0 0
36 0.00% 0 0
50 0.00% 0 0
36 4.00% 0 0
50 0.00% 0 0
Second Loan Details (if loan of same type is taken again during the year) -- see Instructions below
50 4.00% 0 10.00%
36 0.00% 0 12.00%
36 4.00% 0 12.00%
10 0.00% 0 12.00%
36 0.00% 0 12.00%
15 0.00% 0 12.00%
36 0.00% 0 12.00%
50 0.00% 0 12.00%
36 4.00% 0 12.00%
50 0.00% 0 12.00%
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0.00
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Date
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