Excel Based Income Tax calculation sheet for FY 2019

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Name of Applicant:
PAN Number :
Date of Birth (DOB) :
Age :
City of Employeement :
Summarised Data
Gross Income:
Taxable Income after deduction u/s 10:
Total Deduction u/s 80:
Other Deduction:
Net Taxable Income (NTI):
Income Tax:
Insert details of Income & Dedcution (i
Gross Income/Salary Annually (Don’t deduct any allowance)
Dedcution allowed u/s 10
(i) Standared Deduction (salaried and Pensioner) Rs 50,000 [Budget 2019]
(ii) House Rent Allowance (HRA)
Type of City
Amount of HRA (Basic + DA) - Annually
Amount of Actual rent paid - - Annually
HRA amount received from Employer
(iii) Any Other Exempted amount
(iv) Misc amount
Final Taxabale Income for salaried (NTI)
ADD:
Any Income from other sources
(i) Interest received from Saving Bank Account
(ii) Interest received from Deposit (Fixed Deposit / Recurring Deposit)
(iii) Interest from Income Tax Refund
(iv) Any other Income
Less: Exemption on Home Loan Interest (Sec 24)
(A) U/s 24 Amount of Home Loan Interest exempted
(B) Interest paid against home loan
Less: Deduction under Sec 80C
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
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) u/s 24
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 u/s 80EEA (Interest on Home Loan for Affordable Home) [Budget 2019]
Less: Deduction under Sec 80EEB (Interest on Auto Loan for Electronic Vehicle) [Budget 2019]

A. 80 D Health Insurance premiums

B. 80 D Medical Expenditure
B. 80 D Preventive Health Checkup
C. 80 E Interest on Loan taken for Higher education
D. 80 DD Medical Treatment of handicapped Dependent
E. 80DDB Expenditure on Selected Medical Treatment for self/dependent
F. 80EE Intrest on Loan taken for residential house property
G. 80G, 80GGA, 80GGC Donation to approved funds
H. 80GG For Rent in case of NO HRA Component.
I. 80U For Physically Disable Assesse
J. 80TTA (Rs 10,000) for individual
K. 80TTB (Rs 50,000 for Senior Citizens (Budget 2018)
You will get Final Taxable Income
Tax Computed before rebate
Tax Rebate u/s 87A (For Income of less than 5 lakhs)
Calculated Tax amount after rebate
Surcharge @ 10% (if your income is above 50 Lakhs)
Add: Education Cess + Health Cess @ 4%
Relief u/s 89(1)
Net Tax Payable (Total Tax and Cess)
Advance Tax payable
Remaining Tax after Relief & Rebate
Important Note:
1 Fillup only yellow blocks
2 If you are not getting any amount under HRA from your employer, you are free to enter act
3 You will also imposed interest u/s 234A, 234B, 234C and Fee u/s 234F depanding upon your
Terms of Usage: I encourage you to share this Income Tax Calculator for benefit of your frien
commercial use only.

Disclaimer: All care has been taken to keep the information upto date and correct and is for
consult your Tax Advisor before taking any decesion based on this calculator.
tion sheet for FY 2019-20, AY (2020-2021)
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XXXXXXXXXX
AXXXXXXXXX
4/3/1959
60
Non-Metro
ata Fill up only Yellow Cells and rest of the
₹ 1,700,000.00
cells are lock.
₹ -50,000.00
₹ -210,000.00
₹ -60,000.00 Insert Gross Salary received from your Employer
₹ 1,440,000.00
₹ 254,280.00
Insert details of Income & Dedcution (in Yellow Boxes)
nce) ₹ 1,700,000.00

[Budget 2019] ₹ 50,000.00 ₹ 50,000.00

₹ -
Non-Metro
Will Get the Data from Salary Slip ₹ -
₹ -
Will Get the Data from Salary Slip ₹ -
₹ -
₹ -

₹ -

ng Deposit) Enter th

₹ -
₹ -
₹ 150,000.00
₹ 150,000.00

Under S
allowed
 Under S
allowed

ds (u/s 80CCC)

Select the category by click on to it u/s

80D.
Rs 50,000/-)
ffordable Home) [Budget 2019]
for Electronic Vehicle) [Budget 2019]

Self & Family ₹ 10,000.00 ₹ 10,000.00

Self & Family including Parents
Self & Family & Parents -
₹ -
For more information
about 80DD click here ₹ -
t for self/dependent ₹ -
₹ -
₹ -
₹ -
₹ -
-
₹ 50,000.00 ₹ 50,000.00
₹ 1,440,000.00
₹ 244,500.00
n 5 lakhs) [Budget 2019] ₹ -
₹ 244,500.00
50 Lakhs) ₹ -
Salary Arrears received under certain calculation u/s ₹ 9,780.00
89(1) is also deducted from Tax amount. For
calculating u/s 89(1) Click here. ₹ -
₹ 254,280.00
₹ -
₹ 254,280.00

r employer, you are free to enter actual rent amount paid u/s 80GG.
d Fee u/s 234F depanding upon your circumstances.
Tax Calculator for benefit of your friends and family. The usage is restricted to non

tion upto date and correct and is for educational purpose only. You are encouraged to
on this calculator.
rest of the For Any Queries or solution mail @
amit.financialcontrol@gmail.com

r Employer

Standared Deduction of ₹ 40000 is reintroduced in

Budget 2018 & revised by ₹ 50000 in Budget 2019 from
FY 2019-20
₹ 1,700,000.00
₹ -50,000.00 For Income Tax purpose - Tax benefit according
to metro /Non metro cities will be avail by the
employee. For more details click here

For getting Actual HRA exemption data it is

mandatory to fill the column in Yellow colour.

₹ 1,650,000.00

₹ -

Enter the amount earned in particular head

₹ - For getting Actual HRA exemption data, it is

mandatory to fill the column.

₹ -150,000.00

Under Section 80C the maximum exemption

allowed is ₹ 1,50,000.
 Under Section 80C the maximum exemption
allowed is ₹ 1,50,000.

New Section Introduced in Budget

2019 Deduction for interest paid on
home loan – Housing for All
Click here for more information.

New Section Introduced in Budget

0 2019 Tax Exemption on Purchase of
0 Electric Vehicles
Click here for more information.
0
₹ -60,000.00
Under Section 80D Insurance
premium, Medical Expenditure &
health Checkup up to certain extend is
exempted. Click here for more
information.

Claim ₹ 10,000 U/s 80TTA for

individual & ₹ 50,000 for Senior
citizen.

₹ 1,440,000.00
Tax Rebate u/s 87A has been revised in Budget for
people with income less than ₹ 3.5 Lakhs
Income and again updated in Budget 2019 with - ₹
12500/- for the income lessthen equal to ₹ 5
Lakhs Click for more details

Click here to get Step by Step guide of Advance

Tax

Click here to Download excel based spreed sheet

to understand and calculation u/s 234A, 234B,
234C.

Penalty for Late Filing Income Tax Return falls

under section 234F, Click here to understand the
whole concept of this section.
Penalty for Late Filing Income Tax Return falls
under section 234F, Click here to understand the
whole concept of this section.