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DISCLAIMER : This calculator is to help you find out your personal indecative total tax liability. Efforts have been made to cover most of the
qualified chartered accountant or tax consultant to know your ac
Assessee Type
Enter either Male or Female or Sr.Citizen Male
Components of Salary Annual Amount
A.1 Basic Salary Rs711,440
A.2 DA Rs306,590
A.3 HRA Rs193,864
A.4 Transport Allowance Rs47,001
A.5 Medical Reimbursements Rs76,500
A.6 Leave Travel Allowance (LTA) Rs0
A.7 Canteen Rs4,000
A.8 Other Allowances Rs0
A.9 Other Allowances Rs0
A.10 Other Allowances Rs0
Gross Salary (A) Rs1,339,395
Exemptions/Deductions
B.1 House Rent Exemption
Annual Rent Paid Rs180,000
Assessee Residing in M-Metro, NM-Non Metro M
50% of Salary (Basic+DA) Rs509,015
ii) Actual HRA Received Rs193,864
iii) Rent Paid minus 10% of Basic Salary Rs78,197
Total House Rent Exemption
B.2 Transport Allowance
B.3 Medical Reimbursement
Total (B)
The following tax saving investments may be considered for computation of income tax deduction at source for the financia
Deduction u/s 80D to 80U
C.1
Medical Insurance Premium - for the assessee or his family
Medical Insurance Premium - for the parent or parents of the
C.2 assessee (if parents are Senior Citizen enter PSS, else
nothing) 0
C.3 Expenditure on Handicapped Dependents / Deposits made with LIC, etc. for maintenance of handicapped Depende
Disability Percentage of the Handicapped Dependents
if less than 80% enter L80, if more than 80% enter M80 L80
NOTES
*** It is mandatory to make changes in formula every year if you are not able to understand the formula, get it ch
ENTERTAINMENT ALLOWANCE (ONLY FOR GOVT EMPLOYEES) can also be used to calculate LTA exemption the
CALCULATOR FOR FINANCIAL YEAR 2011-12
ity. Efforts have been made to cover most of the scenarios of Income, Exemptions, Deductions, etc. However, you are advised to consult any
ed accountant or tax consultant to know your actual Tax Liability.
Sheet is unprotected for your research and further development, for further enquiries contact
ravi.exe@gmail.com
IF you don’t want to edit the formula just fill in the yellow shaded boxes
Every year change the slabs do minor corrections in formula and you have the IT calculator for that
year
Rs1,236,598
Rs0 Rs0
Rs150,000 U/S 24(1)(Vi) Rs33,103 Rs33,103
Rs46,750 Rs46,750
Rs1,250,245
ble to understand the formula, get it changed from someone who knows, else it wont show the correct tax liability
e used to calculate LTA exemption the same field can be used if you are a non govt employee, Change section and limits
you are advised to consult any
here)
aded boxes
e the IT calculator for that
ow the correct tax liability
loyee, Change section and limits
In this sheet you can use to simulate the entire year salary modify as per need .
2190
2990 168993