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  • Tax Calculator 11 12

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    - The document appears to be a tax calculator showing an individual's monthly and total annual income, deductions, and tax calculations for the period of 2011-2012. - The total gross salary for the year was Rs. 688,046 and total deductions under sections 10, 16, and 80 amounted to Rs. 142,490, Rs. 600, and Rs. 100,000 respectively. - The net taxable income was Rs. 444,956 and the total tax payable was Rs. 27,291, which was less than the tax deducted of Rs. 5,985, resulting in an excess tax deducted of Rs. 21,306.

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    - The document appears to be a tax calculator showing an individual's monthly and total annual income, deductions, and tax calculations for the period of 2011-2012. - The total gross salary for the year was Rs. 688,046 and total deductions under sections 10, 16, and 80 amounted to Rs. 142,490, Rs. 600, and Rs. 100,000 respectively. - The net taxable income was Rs. 444,956 and the total tax payable was Rs. 27,291, which was less than the tax deducted of Rs. 5,985, resulting in an excess tax deducted of Rs. 21,306.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    Tax Calculator 11 12

    Uploaded by

    moudgil1024
    - The document appears to be a tax calculator showing an individual's monthly and total annual income, deductions, and tax calculations for the period of 2011-2012. - The total gross salary for the year was Rs. 688,046 and total deductions under sections 10, 16, and 80 amounted to Rs. 142,490, Rs. 600, and Rs. 100,000 respectively. - The net taxable income was Rs. 444,956 and the total tax payable was Rs. 27,291, which was less than the tax deducted of Rs. 5,985, resulting in an excess tax deducted of Rs. 21,306.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    2011-2012

    20-Apr-12

    TAX CALCULATOR
    Month

    Basic

    HRA

    Sp. Allow.

    Convey.
    Allow.

    Others

    April

    18,750

    13,625

    3,200

    May

    18,750

    13,625

    June

    5,000

    3,633

    July

    34,679

    17,340

    August

    25,375

    12,688

    September

    25,375

    October
    November

    Gross
    Salary

    PF/VPF

    8,163

    43,738

    2,250

    3,200

    8,163

    43,738

    2,250

    853

    19,676

    29,162

    600

    31,745

    83,764

    4,161

    22,893

    60,956

    3,045

    12,688

    22,893

    60,956

    25,375

    12,688

    22,893

    25,375

    12,688

    22,893

    December

    25,375

    12,688

    January

    25,375

    12,688

    February

    25,375

    12,688

    March
    TOTAL

    I. Tax

    P. Tax

    Net Salary

    2,254

    200

    39,034

    2,049

    200

    39,239

    (4,303)

    200

    32,665

    4,301

    75,302

    1,684

    56,227

    3,045

    57,911

    60,956

    3,045

    57,911

    60,956

    3,045

    57,911

    22,893

    60,956

    3,045

    57,911

    22,893

    60,956

    3,045

    57,911

    22,893

    60,956

    3,045

    57,911

    25,375

    12,688

    22,893

    60,956

    3,045

    57,911

    280,179

    149,723

    7,253

    250,891

    688,046

    33,621

    5,985

    600

    647,840

    Particulars
    GROSS SALARY INCOME

    Amount

    * Please update all cells marked in "Yellow", as applicable

    688,046

    Gender - Male / Female

    Male

    ADD : PERKS

    Perks

    HOUSING

    Co.Leased Accommodation - Start Date

    OTHERS

    House Lease - Rent per month

    Others

    1-Apr-11

    LESS : DEDUCTIONS U/S 10


    HRA REBATE
    CONVEYANCE

    140,090
    2,400
    142,490

    HRA Rebate
    City - Metro / Non-metro
    Rent per month

    Metro
    16,000

    LESS : DEDUCTIONS U/S 16


    PROFESSION TAX
    LESS : HOUSING LOAN INTEREST

    600
    0

    Investments for Tax Relief

    Amount

    Housing Loan - Interest

    LESS : DEDUCTIONS U/S 80


    Mediclaim - 80D

    MEDICLAIM - 80D

    Repayment of Education Loan - Interest

    EDUCATION LOAN - 80E

    Others - 80DD/ 80DDB etc.

    OTHERS

    SPECIFIED INVESTMENTS - 80C

    100,000

    100,000

    TAXABLE INCOME

    TAX ON NET SALARY INCOME


    ADD : EDUCATION CESS @ 3%
    NET TAX PAYABLE

    LESS : TAX DEDUCTED

    BAL. TAX PAYABLE / (EXCESS DEDUCTED)

    SPECIFIED INVESTMENTS - 80C


    Contribution to Provident Fund / VPF

    33,621

    Life Insurance Premium

    77,000

    Premium - Pension Plan

    26,496

    PPF

    795

    NSC

    27,291

    ULIP

    Mutual Fund

    Infrastructure Bonds

    Housing Loan - Principal

    Others

    444,956

    5,985

    21,306

    TOTAL (maxm limited to Rs, 1,00,000 +


    Additional Rs 20000 for Infra. Bonds)

    100,000

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