You are on page 1of 11

tax clculator

Income Tax Calculator for FY 2016-17


www.ApnaPlan.com
Name XXXXXXXXX
PAN Number AXXXXXXXX

Birth date
Age
Gross Annual Income/Salary (with all allowances) 2,000,000
Less: Allowances exempt u/s 10(for Service Period)
(I) H.R.A. exemption
City of Residence Metro
Basic Salary (Basic+DA)
Rent Paid
H.R.A received 0
(II) Conveyance allowances(Max Rs.1600/-p.m) 0
(iii) Any Other Exempted Receipts/ allowances
(iv) Professional Tax 0
Income under the head salaries
Add: Any other income from other sources
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 0
Less: Exemption on Home Loan Interest (Sec 24)
Income from house property (Section 24)
Additional tax exemption for First Time Home Buyers (Budget 2016)
Interest paid on Home Improvement Loan (max 30,000) 0
Gross Total Income
Less: Deduction under Sec 80C (Max Rs.1,50,000/-)
A. EPF & VPF Contribution
B. Public Provident Fund (PPF) 0
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)
F. Tax Savings Bonds 0
G. E.L.S.S (Tax Saving Mutual Fund) 0
H. Life Insurance Premiums

Page 1
tax clculator

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. Sukanya Samriddhi Account
N. Stamp Duty & Registration Charges 0
O. Tuition fees for 2 children 0
Less: Additional Deduction under Sec 80CCD NPS (Max Rs 50,000/-) 50,000
Less: Deduction under RGESS Sec 80CCG (Max Rs. 50,000/-) 0
Less: Deduction under chapter VI A
A. 80 D Medical Insurance premiums (for Self ) 0
B. 80 D Medical Insurance premiums (for Parents) 22,251
C. 80 E Int Paid on Education Loan 0
D. 80 DD Medical Treatment of handicapped Dependent 0
E. 80DDB Expenditure on Selected Medical Treatment for self/ dependent 0
F. 80G, 80GGA, 80GGC Donation to approved funds 0
G. 80GG For Rent in case of NO HRA Component (Budget 2016) 0
H. 80U For Physically Disable Assesse 0
I. Any other 0
Total Income
Tax Rebate of Rs. 5,000 (For Income of less than 5 lakhs) (Budget 2016)
Total Tax Payable
Tax Surcharge @ 15% (For Income of more than 1 Crore) (Budget 2016)
Add; Edn Cess @ 3%
Net Tax Payable
Advance Tax Paid
Tax Remianing to be Paid
Tax to Total Income Ratio

In case of any queries or doubts please mail at - apnaplan.com@gmail.com

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

6-17 For any Queries write to -


apnaplan.com@gmail.com

XXXXXXXXX
AXXXXXXXX

1-Oct-84 Fill up only the Orange Cells


31-Mar-17
32
2,000,000
0
0 For Income Tax purpose - only Delhi,
Mumbai, Chennai & Kolkatta are considered
as metro cities. Noida, Gurgaon etc are Non-
0 metro cities.
0
0
You can take Tax Benefit on both HRA &
0 Home Loan.
0 In case of any queries Click here.
0
2,000,000
0 0 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.

0 This calculator only works for people with one


0 house. The maximum exemption on Home
Loan interest is Rs. 2 lakhs [in Budget 2014]
0
0
2,000,000
0 0

Click here to
Choose the best investment under 80C.

Click here to choose the Best Tax Saving Fixed


Deposit rates from banks

Page 3
Click here to choose the Best Tax Saving Fixed
Deposit
taxrates from banks
clculator

Click here to choose the Best Tax Saving


Mutual Funds (ELSS)

Click Here to know about


Sukanya Samriddhi Account

-50,000
0 Read more about RGESS at Apnaplan.com
-22,251
0
22,251
0 Click Here in case of any doubt on Education
0 Loan Tax Exemption
0
0
0 Tax Rebate u/s 87A has been increased from
Rs. 2,000 to Rs 5,000 Budget for people with
0 income less than Rs 5 Lakhs
0 Income here means Gross Income - Chapter
1,927,749 VI Deduction - 80 C Deduction
Click for more details
0
403,325
0
12,100
415,424
0
Want to Save more taxes?
415,424 Click here to Download a simple presentation on Tax Saving!
21%

@gmail.com

ends and family. The usage is restricted

r educational purpose only. You are


.

Page 4
tax clculator

Page 5
tax clculator

e more taxes?
le presentation on Tax Saving!

Page 6
tax clculator

Income Tax for General Tax Tax Slabs Incremental Taxable Inc Tax Bracket

0 -250000 - 250,000 250000 0%


250001 - 500000 25,000 500,000 250,000 1677749 10%
500001 - 1000000 100,000 1,000,000 500,000 1,427,749 20%
500001 + 278,325 927,749 927749 30%
Total Tax 403,325

Income Tax for Senior Citizen Tax Tax Slabs Incremental Taxable Inc Tax Bracket
0 -300000 - 300,000 300,000 0%
300001 - 500000 20,000 500,000 200,000 1,627,749 10%
500001 - 1000000 100,000 1,000,000 500,000 1,427,749 20%
500001 + 278,325 927,749 927,749 30%
Total Tax 398,325

Income Tax for very Senior CitizeTax Tax Slabs Incremental Taxable Inc Tax Bracket
0 - 500000 - 500,000 500,000 0%
500001 - 1000000 100,000 1,000,000 500,000 1,427,749 20%
1000001 + - (1,000,000) 927,749 30%
Total Tax 100,000

Page 7
tax clculator

Page 8
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 Clicking on Books


Sellers in Personal take you to Amazon.
Finance and one of the
earliest books I read. can buy these boo
Good book but not
everything relevant for
Indian Audience
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


ake you to Amazon.in where you
can buy these books online.