Instructions to use Tax Calculator

1. Tax Calculator is prepopulated with your FY 2022-23 income and Investment details. Associate can change the Investme
applicable to see the impact on Net Tax liability under both regime.

2. Fields Categories
Editable Fields
Computation under Existing Tax Regime
Computation under New Tax Regime
Rest Cells for Information

3. Tax Calculator contains Locked cells to protect the computation formulas. Hence, please Use Tab for switching between

4. HRA Exemption is available under Existing Tax Regime only. A separate HRA Exemption Assistant is provided to calculate
Rent paid details. Please note to update metro / non metro as the case may be.

5. This Tax Calculator is customised and devloped fully for internal use of Tata Consultancy Services Associates. This is expe
computation references only.

6. Tax Calculator is a reference tool to assist in selection of appropriate Tax Regime. Every effort has been made to avoid e
or discrepancy noted may be brought to our notice which shall be taken care of. It is notified that this is reference tool and
loss of action to any one, of any kind, in any manner, therefrom.

Please Note: This utility is developed to help TCS associates in better projection of Taxes. Tata Consultancy Services will no
one, of any kind, in any manner, therefrom.
se Tax Calculator

ssociate can change the Investment and eligible exemption numbers as per ceiling

e Use Tab for switching between fields for entry.

Assistant is provided to calculate amount of HRA (TRLP) Exemption basis the Salary and

y Services Associates. This is expected to be used strictly by associates for self

y effort has been made to avoid errors or omissions. In spite of this, if any mistake, error
fied that this is reference tool and development teams will not be responsible for any

Tata Consultancy Services will not be responsible for any damage or loss of action to any
 Tax Computation

Prepopulated with
FY23 Numbers Tax Computation
(Associate can change Ceiling Applicable Tax Computation under New Regime
Sr. No. Head Description
the amount in Input (Max. Limit) under Existing Regime (Opting for Sec
cells to check impact 115BAC)
on Net Taxes)

1
Salary Components Basic Salary (Annual) 199,200 199,200 199,200

2
Salary Components Leave Travel allowance (Annual as per BOB/Earnings in Tax statement) 192,534 192,534 192,534

3
Salary Components Other Allowances included in Earnings 271,730 271,730 271,730

Salary Income (1+2+3) Salary Income 663,464 663,464

4

5
Salary Components Food Coupon loaded on Food Card (YTD Loading)*** - - -

Gross Salary (with Food Coupon Added for New Tax

Gross Salary (4+5) Regime only) 663,464 663,464
6

7
Annual Perquisites Accommodation provided by employer (if any) - - -

8
Annual Perquisites Car/Automotives provided by employer (if any) - - -

Other Perqusites Values Other Perqusites Value - - -

8.1
Employer Contribution to PF, Superannuation & Nation Pension Scheme
Employer Contributions for perquisite calculation(PF @ 12% , Superannuation @ 15% and NPS - - -
9 @ 10%)

Annual Perquisites Employer contributions exceeding 7,50,000/- in financial year - -

10
Total Annual Perqisites (7+8+10) Total Annual Perqisites - -
11

Annual Gross Salary (6+11) 663,464 663,464

12

13
Exemption under Section 10 Leave Travel allowance Exemption availed U/S 10(5) - 192,534 - -

House Rent Allowance Exemption U/S 10(13A) HRA Exemption

Exemption under Section 10 - utility provided next - -
14 (Prepopulated based on latest salary) sheet
Conveyance allowance for physical disability - self (only if conveyance
15
Exemption under Section 10
allowance is set in BoB) - 38,400 - -

Total Exemption under Section 10

(13+14+15) Total Exemption under Section 10 - -
16

17
Exemption under Section 16 Profession Tax - - -

18
Exemption under Section 16 Standard deduction 50,000 50,000 50,000 50,000

Total Exemption under Section 16 (17+18) Total Exemption under Section 16 50,000 50,000
19
Taxable Income from Salary Taxable Income from Salary 613,464 613,464
20 (12-16-19)

21
Income from House Property Income (Rental) from House property - - -

22
Deductions U/S 24 Deductions from House Property Income (incl housing loan interest) - - -

Net Income/(Loss) from House Property

(21-22) Net Income/(Loss) from House Property (200,000) - -
23
Income from Interest (Includes Bank, Fixed deposits, Postal deposits
24
Income from Other Sources interest) - - -

Gross Total Income (20+23+24) Gross Total Income 613,464 613,464

25
Amount invested/paid in tax saving instruments such as PPF, ELSS
26.1
Chapter VI-A Deduction U/S 80C
mutual funds, LIC premium, etc. - 150,000 - -

26.2
Chapter VI-A Deduction U/S 80D Medical premium & preventive health checkup fees for self - 25,000 - -

Medical premium & preventive health checkup paid for parents-both

26.3
Chapter VI-A Deduction U/S 80D Parents Non Senior Citizen - 25,000 - -

Medical premium & preventive health checkup fees for parents-either

26.4
Chapter VI-A Deduction U/S 80D of the Parent is Senior Citizen - 50,000 - -

Chapter VI-A Deduction U/S 80CCD 1A & Employee's contribution to NPS - direct contribution by employee to
26.5 1B National Pension Scheme (NPS) - 200,000 - -

26.6
Chapter VI-A Deduction U/S 80CCD (2) Employer's contribution to National Pension Scheme (NPS) - 19,920 - -

Medical Treatment for specified diseases (Non Senior Citizen - Rs.

26.7
Chapter VI-A Deduction U/S 80 DDB
40,000 , Senior Citizen - Rs. 1,00,000) - 100,000 - -

Interest on Educational Loan (Amount of interest paid on loan taken for

26.8
Chapter VI-A Deduction U/S 80E higher education) - - -

Interest on Housing Loan (Additional Interest on Housing Loan for Loan

26.9
Chapter VI-A Deduction U/S 80EE taken in FY 2016-17) - 50,000 - -

Interest on Housing Loan (Additional Interest on Housing Loan for Loan

26.10
Chapter VI-A Deduction U/S 80EEA taken In FY 2019-2020 subject to conditions ) - 150,000 -

Exemption for Physical Disability self - 80U ( Rs 125000 for severe

26.11
Chapter VI-A Deduction U/S 80U
disablilty else Rs 75000) - 125,000 -

Total Chapter VI-A Deductions Total Chapter VI-A Deductions - -

26

27 Total taxable Income (25-26) Total taxable Income 613,464 613,464

New Regime-
Tax Slabs- Old Regime Tax Slabs- New Regime Old Regime Rates New Regime rates Existing Regime
Reduced tax rate

Up to Rs 2,50,000 ** Upto 3,00,000 Nil Nil - -

Rs 2,50,000 to Rs 5,00,000 Rs. 3,00,000 to Rs. 6,00,000 5% 5% 12,500 15,000

Rs 5,00,000 to Rs 7,50,000 Rs. 6,00,000 to Rs. 9,00,000 20% 10% 22,693 1,346

Rs 7,50,000 to Rs 10,00,000 Rs. 9,00,000 to Rs. 12,00,000 20% 15% - -

Rs 10,00,000 to Rs 15,00,000 Rs. 12,00,000 to Rs. 15,00,000 30% 20% - -

More than Rs Rs 15,00,000 More than Rs. 15,00,000 30% 30% - -

Base Tax Total Base Tax 35,193 16,346

Rebate considered for old tax regime is Rs 5 lakhs and Rs 7 lakhs for
Rebate U/S 87A new tax regime Upto 12,500 Upto 25,000 - 16,346

Marginal relief considered Relief considered on income marginally higher than Rs 7 Lakhs -

Base Tax Net of Rebate Base Tax Net of Rebate / Marginal Relief 35,193 -

Surcharge @ 10% between 50 L to 1 Cr, 15% between 1 Cr to 2 Cr, 25%

Surcharge as per Slab between 2 Cr to 5 Cr and 37% above 5 Cr in case of old tax regime and - -
25% for income greater than 5 cr in case of new tax regime

Marginal Relief considered (that is income above given slab not to

Surcharge Charged exceed additional surcharge liability) - -

Cess 4% of total tax 1,408 -

Total Income Tax 36,601 -

Your Gain by shifting to New Tax Regime 36,601

* Pl note Sec.80TTA deduction for Saving Bank interest (Rs. 10000 incase of Non senior citizens & Rs. 500000 in case of senior citizens) not considered in computation as the same need to be claimed by associate separately while
filing return. This deduction is available under Existing Regime only.

** Slabin case of Senior Citizens is Up to Rs. 3,00,000 in current regime only; Thus for Senior citizens the Base Tax would be lower by Rs.2500 if one follows existing regime. This benefit is not available in New Tax regime. In
current regime the lower tax of Rs. 2500 for senior citizen associates is not considered in above computation.

*** Amount loaded on Food Card is Taxable in New Tax regime. Amount loaded on Card till latest payroll is considered for current Tax calculator. Associate need to change the amount as per their Food Card plan to view full year
projection. The food card amount fetched in calculator does not take into consideration 'the amount rejected on Card and paid in salary subsequently'.
Please Note: This utility is developed to help TCS associates in better projection of Taxes. Tata Consultancy Services will not be responsible for any damage or loss of action to any one, of any kind, in any manner, therefrom.
Living In Metro

Month Basic Salary HRA Received

April
May
June
July
August
Septemeber
October
Novemeber
Decemeber
January
February
March

Total HRA Exemption

Rent Paid HRA Exemption
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