tax clculator

Income Tax Calculator for FY 2019-20 (AY 2020-21)

www.ApnaPlan.com
Name
PAN Number

Gross Annual Income/Salary (with all allowances)

Less: Allowances exempt u/s 10(for Service Period)
(I) H.R.A. exemption
City of Residence
Basic Salary (Basic+DA)
Rent Paid
H.R.A received
(II) Standard Deduction for Salaried & Pensioner (Rs 50,000) Budget 2019
(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
3. Any Other Income
Less: Exemption on Home Loan Interest (Sec 24)
Loss from house property (Section 24)
Additional tax exemption for First Time Home Buyers (Budget 2016)
Interest paid on Home Improvement Loan (max 30,000)
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

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I. New Pension Scheme (NPS) (u/s 80CCC)

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 NPS (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 (Budget 2016)
H. 80U For Physically Disable Assesse
I. 80TTA (Rs 50,000 for Senior Citizens & Rs 10,000 for others) (Budget 2018)

Less: Deduction under Sec 80CCD(2) NPS (Employer Contribution)

Less: Deduction under Sec 80EEA (Interest on Home Loan for Affordable Home) (Budget 2019)
Less: Deduction under Sec 80EEA (Interest on Auto Loan for Electronic Vehicle) (Budget 2019)
Total Income
Tax Rebate of Rs. 12,500 (For Income of less than 5 lakhs) (Budget 2019)
Total Tax Payable
Tax Surcharge @ 10%/15%/25%/37% (Income more than 50 Lakhs/1 cr/2 cr/5 cr respectively) (Budget 2019)
Add; Edn Cess + Health Cess @ 4%
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
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
consult your Tax Advisor before taking any decesion based on this calculator.

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0 (AY 2020-21) For any Queries write to -

apnaplan.com@gmail.com

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Birth date 1-Oct-84 Fill31-Mar-20

up only the Orange Cells
Age 35
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0 For Income Tax purpose - only Delhi, Mumbai,
Chennai & Kolkatta are considered as metro
Metro cities. Noida, Gurgaon etc are Non-metro
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You can take Tax Benefit on both HRA & Home
0 0 Loan.
0 0 In case of any queries Click here.
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The maximum exemption on Home Loan
0 interest is Rs. 2 lakhs irrespective of it being
0 0 Letout or Self-Occupied [in Budget 2017]
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0 Click here to
0 Choose the best investment under 80C.
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0 Click here to choose the Best Tax Saving Fixed
Deposit rates from banks
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 Click here to choose the Best Tax Saving Fixed
Deposit rates from banks
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Click here to choose the Best Tax Saving
0 Mutual Funds (ELSS)
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Click Here to know about
0 Sukanya Samriddhi Account
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0 0 Read more about Tax benefit on NPS
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0 0 Click Here in case of any doubt on Education
Loan Tax Exemption
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0 0 Click Here to know about NPS Tax exemption
0 0 u/s 80CCD(1), 80CCD(2) & 80CCD(1B)
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0 0 80EEA – New Tax Exemption on Home Loan for
Purchase of Affordable House
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0 0 0 80EEB – New Tax Exemption on Auto Loan for
Purchase of Electric Vehicles
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0 Tax Rebate u/s 87A has been increased to Rs
-12,500 12,500 from Rs 2,500 in Budget for people with
0 income less than Rs 5 Lakhs
Click for more details
respectively) (Budget 2019) 0
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