https://www.commerceangadi.

com/ Income Tax calculator FY 2023-24 (AY 2024-25)

Fill data only in Light Green Cell (this colour)
Name My Name Metro
PAN Non-Metro
Date of Birth 01/Apr/63 Age (Years) 60 Senior Citizen Delhi, Mumbai, Chennai &
Year Ends 31/Mar/24 Kolkatta are considered
Living City Metro << Select from list as metro cities.

Apr/23 May/23 Jun/23 Jul/23 Aug/23 Sep/23 Oct/23 Nov/23 Dec/23 Jan/24 Feb/24 Mar/24 Total
Basic + DA - - - - - - - - - - - - -
House Rent Allowance - - - - - - - - - - - - -
Special Allowance - - - - - - - - - - - - -
Other taxable allowances (Enter the componenet here) - - - - - - - - - - - - -
Other taxable allowances (Enter the componenet here) - - - - - - - - - - - - -
Other taxable allowances (Enter the componenet here) - - - - - - - - - - - - -
Other taxable allowances (Enter the componenet here) - - - - - - - - - - - - -
Other taxable allowances (Enter the componenet here) - - - - - - - - - - - - -
Pension Income >>>>> - - - - - - - - - - - - -
Gross Salary - - - - - - - - - - - - -
Provident Fund - - - - - - - - - - - - -
VPF - - - - - - - - - - - - -
Profession Tax - - - - - - - - - - - - -
TDS Deducted - - - - - - - - - - - - -
Any Other Deductions (Enter the componenet here) - - - - - - - - - - - - -
Any Other Deductions (Enter the componenet here) - - - - - - - - - - - - -
Total Deductions - - - - - - - - - - - - -
Net Salary received - - - - - - - - - - - - -

Rent Paid - - - - - - - - - - - - -
Click here for Family Pension

Computation of Income FY 2023-24 (Option 1 as per old regime) New regime - Click here
(I) Income From Salary
Gross Salary -
Less HRA
HRA Received -
40% or 50% of Basic -
Rent Paid > 10% of Salary. -
HRA Exemption - -

Exemption on gratuity 10(10) -

Exemption on Leave encashment 10(10AA) -
Exemption on voluntary retirement 10(10C) -
Daily Allowance 10(14)(i) -
Conveyance Allowance 10(14)(ii) -
Transport Allowance for a specially-abled person -
Perquisites for official purposes 17(2) -
Less : Exempted allowances as per Form 16 (Enter the componenet here) -
Less : Exempted allowances as per Form 16 (Enter the componenet here) -
Less : Exempted allowances as per Form 16 (Enter the componenet here) - -
Taxable Salary -
Less : Standard Deduction - Scan to Support
Less : Professional Tax -
Income taxable under the head Salaries - -

(II) Income from House Property

(A) Self occupied property (Loss) Property 1 Property 2
Interest on loan / Borrowing taken for Repairs, renewal, or reconstructi - - -
Interest on loan / Borrowing taken for Construction / Acquisition,
Before 1/4/99 - - -
After 1/4/99 & completed after 5 years from the end of FY of borrowing - - -
After 1/4/99 & completed within 5 years from the end of FY of borrowin - - -
Maximum Allowable -

(B) Let out property (Enter name of Property)

Rent of the property for the year -
Less : Municipal Taxes paid in the year -
Net Annual Value -
Less : Standard Deduction -
Less : Interest on Housing Loan -
Net Income / (Loss) from this House - -

(C) Let out property (Enter name of Property)

Rent of the property for the year -
Less : Municipal Taxes paid in the year -
Net Annual Value -
Less : Standard Deduction -
Less : Interest on Housing Loan -
Net Income / (Loss) from this House - -
Income from HP before set off of carry forward loss from HP -

Current Year Income / (Loss) from House Property -

Less : Carry Forward Loss of House Property from earlier Years : - -

Brought forward of House Property Loss of Current Year -

Brought forward of House Property Loss of Earlier Years -
Income taxable under the head House Property - -

(III) Income from Other Sources

Bank interest (SB account) -
Bank Interest (Term Deposit) -
NSC Interest for the year -
Post office deopsit -
Dividend -
Family Pension -
Less : Deduction on Family Pension Income Sec. 57(IIA) -
Less : Gifts up to Rs. 50,000/- Dec. 56(2) -
Other income taxable under this head (Enter the componenet here) -
Other income taxable under this head (Enter the componenet here) -
Income taxable under the head Other Sources - -

Gross Total Income -

Less : Deduction under chapter VI A

Section 80 C
Life insurance -
Provident Fund -
Public Provident Fund -
NSC investment + Accrued interest -
Housing loan principal repayment -
Sukanya Samriddhi Account -
Tuition fees for 2 children -
Tax Saving Fixed deposit in Bank (5 years) -
Tax Saving Bonds -
E.L.S.S (Tax Saving Mutual Fund) -

Section 80 CCC
Pension Plan from Insurance Companies/Mutual Funds (u/s 80CCC) -

Section 80 CCD
Contribution to NPS notified by the Central Government -

Section 80 CCH
All contributions to Agniveer Corpus Fund -
- -

Less: Additional Deduction under Sec 80CCD NPS (Max. ₹ 50,000/-) - -

80D - Mediclaim Insurance (Self & dependent) - -

80D - Mediclaim Insurance (Parents) - -
80E - Interest on education loan - -
80EE - Interest on Home Loan as per conditions mentioned therein - -
80DD - Medical Treatment of handicapped Dependent - - 40% to 79% Claiming 80U?
80DDB - 80DDB Expenditure on Selected Medical Treatment - - >> Select DisabiliClaiming 80U?
80G, 80GGA, 80GGC Donation to approved funds - - Less than 40% Yes
80GG For Rent to an Individual, not receiving HRA (File Form 10BA) - - 40% to 79% No
80TTA - SB interest received by Normal Citizen - - 80% & more
80TTB - Interest on SB Act. & deposits received by Sr. & very Sr. Citi - -
80U - Physically Disable Assesse -
Any other section (Enter the componenet here) - -
Any other section (Enter the componenet here) - - -
Total Deductions - -

Total Taxable Income -

Tax Payable -
Less : Rebate u/s 87A -
Tax Payable after rebate -
Add : Surcharge -
Add : Education + Health Cess -
Total Tax Liability - Tax Option 1
Less : TDS from Salary -
Less : TDS from Bank on Interest -
Less : TDS (Enter the Deductor details) -
Less : TDS (Enter the Deductor details) - -
Tax Payable / (Refundable) -
Gray Cell inputs picked from the table entered above
Computation of Income FY 2023-24 (Option 2 as per New regime)

Income from Salary -

Less : Standard Deduction -
Less : Other Deductions Sec. Amount
Exemption on gratuity 10(10) -
Exemption on Leave encashment 10(10AA) -
Exemption on voluntary retirement 10(10C) -
Daily Allowance 10(14)(i) -
Conveyance Allowance 10(14)(ii) -
Transport Allowance for a specially-abled person -
Perquisites for official purposes 17(2) -
Any other elegible section (Enter the componenet here)
Any other elegible section (Enter the componenet here) - -

Income from House property (Let Out)

Net Annual Value Entered above -
Less : Standard Deduction Entered above -
Less : Interest on Housing Loan Entered above - -

Income from Other Sources Entered above -

Less Decuctions
Employer's contribution to NPS 80CCD(2) -
All contributions to Agniveer Corpus Fund 80CCH -
Any other elegible section (Enter the componenet here) -
Any other elegible section (Enter the componenet here) - -
Total Taxable Income -

Tax Payable - -
Less : Rebate u/s 87A -
Tax Payable after rebate -
Add : Surcharge -
Add : Education + Health Cess -
Total Tax Liability - Tax Option 2
Less : TDS from Salary -
Less : TDS from Bank on Interest -
Less : TDS (Enter the Deductor details) -
Less : TDS (Enter the Deductor details) - -
Tax Payable / (Refundable) -

* Individual or the HUF with business Income can exercise option only once for a previous year and Individual or HUF without business
Income can exercise and change the option every year.

In Case of Queries, Clarifications, Improvements, Additional details required, please click here & submit the response.
Terms of Usage : This calculator is made for non commercial use by Individuals. This is an initiative taken to help the common Assessee
having income under the head Salary, House Property & Other Sources.
Disclaimer : Care has been taken to prepare this calculator. Please consult your Advisor also before taking any decision based on this
calculator, because this is having limited fields of input.
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