Disclaimer

Anmol Gupta does not receive any remuneration in respect of the underlying products being discussed or mentioned at any p
does not certify and/or endorse any opinions contained, provided, posted or expressed and makes no representation or warra
implied, of any kind whatsoever.

If you do not agree to abide by this, please do not proceed to use the statistics, opinions or any information provided in this fil
expressly disclaimed not to be not personalized financial, investment or professional advice.

Nothing in this file should be construed as being personalized financial, investment or professional advice, or shall be deemed
offer or provision of such advice. This is a calculator tool to assist you in planning your tax savings based on different sections o
information is provided solely for reference purposes and you should always obtain advice from qualified financial adviser bef
investment decision.
Information provided in this file is for general information only and is not a solicitation or attempt to effect transactions in
investments/schemes/funds/securities or the rendering of personalized investment advice.

Mutual funds are subject to market risk (or systematic risk). The NAVs of the schemes may go up or down depending upon the
affecting the securities market including the fluctuations in the interest rates. This is because there is no way to predict what w
future or whether a given asset will increase or decrease in value. Because the market cannot be accurately predicted or comp
no investment is risk-free. Different types of schemes, funds, investments involve varying degrees of risk and need to be matc
personal financial situation and/or investment objectives in consultation with an investment advisor.

While we endeavor to ensure that all content, facts, figures and calculations done in this file are correct, we cannot guarantee
use data generated by verified and authentic third parties. Accordingly, we cannot make any representations as to the accurac
suitability or completeness of any information whether linked to or incorporated herein.

This excel sheet is an intellectual property of 7Prosper and Anmol Gupta, and is meant for only personal usage, by the recipien
7Prosper or Anmol Gupta has exclusively given rights to. Any commercial usage such as reselling or reproduction of this sheet
will call for legal action.

# Classification: Public
 Instructions to use this Tax Planner

1. You need to enter values only in cells which are colored yellow (exactly like this one). Everything else is calculated.
You mostly have to use sheet named 'Tax Planner', followed by "Business and Profession" if you are self employed or a
freelancer. "NPS and PF Planning" is an advanced feature that you can use too.
2. Follow the instructions given carefully with each input asked for.
3. This planner optimizes your salary structure as well as assists you in planning for different deductions that you can
claim.
4. Planner optimizes salary structure to maximizes total exemptions under HRA, LTA, Employer's NPS, Employer's PF
and other non taxable allowances, respecting all the constraints. It can lead to reduction in certain exemptions and
increase in some other exemptions. So, focus on the overall tax liability. This sheet is configured to handle maximum
monthly basic income (not total) of upto 5 lakh per month. If your monthly basic income is more than 5 lakh, contact
support.

5. The planner has been tested extensively with different scenarios. In most cases, the recommended salary structure will
have equal or lesser tax liability. However, if the new wage code gets implemented, basic salary will need to be at least
50% of the gross salary. So, if your current basic salary is below 50% of the gross salary, recommended salary structure
might have higher tax liability in order to comply to new rules. However, that would be the best solution considering the
constraint. In any case, if you are in doubt that the recommended salary structure is not optimal or if there is any error,
please feel free to reach out to support@7prosper.com with the particular case. We will assist you and rectify if there is
any error.
6. Also, to get your general questions answered and to take part in discussions within the closed community of 7Prosper
members, join our Telergram group:
https://t.me/+wLNwSBhw8VU5MTI1
7. Just because we are 7Prosper :)
v7.0 Released 08/04/2022

# Classification: Public
 Tax Planner by 7Prosper (c)

Are you salaried?

Do you live in Mumbai, Delhi, Chennai or Kolkata?
Is PF deducted?

Current Salary Structure Monthly

Basic salary + DA (if applicable)
House Rent Allowance
Leave Travel Allowance
Meal allowance/Food coupons
Telephone allowance/Reimbursement for phone
Books, publications, newspapers or Research allowance
Employer's contribution towards NPS
Other non taxable allowances (Conveyance/Travel/Uniform
allowance/Helper/Assistant allowance)
Other taxable allowances
Total Salary excluding bonus ₹0
Employee's/Self contribution towards NPS - Monthly
Employer's contribution towards NPS ₹0
Total NPS contribution ₹0
Employee's contribution towards PF
Employer's contribution towards PF
Total PF contribution
Professional Tax

Employee's PF contribution type Not Provided

Employer's PF contribution type Not Provided
Annual Bonus
Annual CTC (includes Employer's PF contribution) ₹0
Gross Salary (excludes Employer's PF contribution) ₹0

Salary Negotiation Details

Current basic salary as % of gross salary N.A.
Minimum Monthly Basic Salary that you must have as % of gross
salary excluding bonus? 30.00%
Maximum Monthly Basic Salary that your employer is willing to
pay as % of gross salary excluding bonus? 50.00%

Actual Expenses Amount

# Classification: Public
 Monthly Rent
Estimated Travel Expense for a vacation every 2 years subject to
LTA limits
Monthly Meal Expenses while in office/Expense using food
cards
Monthly Phone expenses
Monthly book, publications, newspaper, research expenses
Total Partially/Fully Non Taxable Expenses

Recommended Salary Structure Monthly

Basic salary + DA (if applicable) ₹0
House Rent Allowance ₹0
Leave Travel Allowance ₹0
Meal allowance/Food coupons ₹0
Telephone allowance/Reimbursement for phone ₹0
Books, publications, newspapers or Research allowance ₹0
Employer's contribution towards NPS ₹0
Other non taxable allowances (Conveyance/Travel/Uniform allo ₹0
Other taxable allowances ₹0
Total Salary excluding bonus ₹0
Employee's/Self contribution towards NPS - Monthly ₹0
Employer's contribution towards NPS ₹0
Total NPS contribution ₹0
Employee's contribution towards PF ₹0
Employer's contribution towards PF ₹0
Total PF contribution ₹0
Professional Tax ₹0

Employee's PF contribution type Not Provided

Employer's PF contribution type Not Provided
Annual Bonus ₹0
Annual CTC (includes Employer's PF contribution) ₹0
Gross Salary (excludes Employer's PF contribution) ₹0

Exemptions

Current

# Classification: Public
 Total Taxable Salary Income Yearly ₹0
Total Taxable Income from Business and Profession ₹0
HRA Claim Section 10(13A)/80GG for non salaried ₹0
Leave Travel Allowance ₹0
Meal allowance/Food coupons ₹0
Telephone allowance/Reimbursement for phone ₹0
Books, publications, newspapers or Research allowance ₹0

Total Exemptions ₹0
NPS Employer's Contribution (non taxable component) ₹0
Employer's Contribution towards PF (non taxable) ₹0
Total Non Taxable CTC ₹0

Taxable Income without considering deductions ₹0

Deductions (Annual Basis)

Health Insurance

Are you and your spouse (if married) below 60 years of age?
Are both your parents below 60 years of age?

Annual Health Insurance Premium paid for self, spouse and kids
Annual Health Insurance Premium paid (by you) for parents

Health Insurance Premium Deductible for Self ₹0

Health Insurance Premium Deductible for Parents ₹0

Total Health Insurance Premium Deductible - Section 80D ₹0

Savings Account Interest

Savings account interest deductible - Section 80TTA ₹0

Standard Deduction - Section 16 ₹0

Deductible Donations - Section 80G

Electric Vehicle Loan Interest for the Year

Deductible EV loan interest - - Section 80EEB ₹0

# Classification: Public
 Education Loan Interest for the year (fully deductible) -
Section 80E

Home loan interest for the year

Deductible home loan interest - Section 24 ₹0

Total deductions before 80C ₹0

Current
Taxable income without 80C ₹0

80C Deductions
Essentials Current
Employee's contribution towards Provident Fund ₹0
Term Life Insurance
Tuition fees for kids
Stamp duty and registration charges of house
Principal payment of house loan
Total 80C deductions without voluntary investments ₹0
80C Limit ₹ 150,000
Is additional planning for 80C required? Yes
Additional investments required under 80C? ₹ 150,000

Risk test score

Your existing investments value
Required 80C investments as % of your existing investments Infinite
Risk capacity for 80C investments Very Low
Calculated Risk Appetite N.A.
Override Risk Appetite
Final Risk Appetite N.A.

Investment with current

Scheme salary structure
ELSS
PPF

Sukanya Samriddhi Yojana

VPF
NSC
Other schemes that you prefer

Employee's/Self contribution towards NPS ₹0

# Classification: Public
 NPS Aggressive
NPS Moderate
NPS Conservative
Total 80C voluntary investments ₹0

NPS contributions eligible for 80CCD(1) as part of 80C ₹0

Total 80C eligible contributions ₹0
Total 80C contributions without NPS 80CCD(1) ₹0
NPS Contributions to claim under 80CCD(1) ₹0
Total 80C deductible contributions ₹0

NPS Additional Deductions Current Salary

Residual for section 80CCD(1B) ₹0
Residual deductible under section 80CCD(1B) ₹0
Employer's contribution towards NPS 80CCD(2) ₹0
Employer's contribution deductible under 80CCD(2) ₹0
Total 80CCD(1B) Deductible + 80CCD(2) Deductibles ₹0

Total 80C Deductions + 80CCD(1B) Deductibles + 80CCD(2) ₹0

Other Deductions Amount

Amount you are paying for medical expenses of a disabled dependent?
80DD
Are they severely disabled?
Section 80DD Deductible ₹0
Cost incurred for treatment of certain ailments of self or dependent?
80DDB
Are you or that dependent senior citizen?
Section 80DDB Deductible ₹0
Do you suffer from disability?
Section 80U Deductible ₹0
Donation to scientific research of rural development. 80GGA (fully
deductible)
Donation to political parties. Section 80GGC (fully deductible)
Other Deductions
Professional Tax ₹0

Total Other Deductions ₹0

For Current Salary

Grand Total of Deductions ₹0

Final Tax Statement Current

Gross Salary Income ₹0

# Classification: Public
 Basic salary + DA (if applicable) ₹0
House Rent Allowance ₹0
Leave Travel Allowance ₹0
Meal allowance/Food coupons ₹0
Telephone allowance/Reimbursement for phone ₹0
Books, publications, newspapers or Research allowance ₹0
Employer's contribution towards NPS ₹0

Other non taxable allowances (Conveyance/Travel/Uniform

allowance/Helper/Assistant allowance) ₹0
Other taxable allowances ₹0
Annual Bonus ₹0
Total Income from Business and Profession ₹0
Exemptions ₹0
HRA Claim Section 10(13A)/80GG for non salaried ₹0
Leave Travel Allowance ₹0
Meal allowance/Food coupons ₹0
Telephone allowance/Reimbursement for phone ₹0
Books, publications, newspapers or Research allowance ₹0
Deductions ₹0
Total Health Insurance Premium Deductible - Section 80D ₹0
Savings account interest deductible - Section 80TTA ₹0
Standard Deduction - Section 16 ₹0
Deductible Donations - Section 80G ₹0
Deductible EV loan interest - - Section 80EEB ₹0
Education Loan Interest for the year (fully deductible) -
Section 80E ₹0
Deductible home loan interest - Section 24 ₹0
Total 80C deductible contributions ₹0
Residual deductible under section 80CCD(1B) ₹0
Employer's contribution deductible under 80CCD(2) ₹0
Total Other Deductions ₹0

Net Taxable Income (Old Regime) ₹0

Rebate (Old Regime) ₹0
Tax Liability ₹0
Net Tax Payable (Old Regime)[excluding cess] ₹0

Net Taxable Income (New Regime) ₹0

Rebate (New Regime) ₹0
Tax Liability ₹0
Tax Payable (New Regime)[excluding cess] ₹0

Which regime should you choose? NEW

# Classification: Public
 Select from the dropdown. Please note that
Gurgaon, Noida and other parts of NCR are not
considered as Delhi for HRA purpose :)

Does your employer provide

Yearly Taxable? this component?
₹ 0 Yes Yes Enter all these details by looking at your
₹ 0 Partially Yes slip. In column F, explicitly mention if you
employer can provide that salary compon
₹ 0 Partially Yes even if you don't get it right now. We wil
₹ 0 Partially Yes to recommend you the ideal salary struct
₹ 0 No Yes If you are not salaried, enter everything i
salary and keep everything in column F a
₹ 0 No Yes Anything else apart from Basic will be ign
₹ 0 Partially Yes case you are non salaried.

₹ 0 No Yes
₹ 0 Yes Yes
₹ 0 Yes
₹ 0 Partially
₹ 0 Partially 1. Cell C19 - If you are investing in NPS either as self employed or
a salaried person, enter that monthly amount here. If you invest
₹ 0 Partially a lump sum amount, divide that by 12 and enter.
₹ 0 Partially
2. Employer's contribution towards NPS is only considered if you
₹ 0 No are salaried (as per cell C4)
₹ 0 Partially
3. Cell C22 and C23 - Enter your and your employer's PF
₹ 0 No contribution separately. This is typically 12% of the basic salary
but it can vary.

PF contribution (both employee and employer) is considered

only if PF is deducted as specified in cell C6.

Enter the annual bonus that you get.

This is for negotiation purpose. If you don't know this or if you are
non salaried, leave it blank. We consider it to be flexible and
recommend you the ideal basic salary.

Yearly

# Classification: Public
 ₹0 Enter the actual expenses that you are incurring
for each item.
₹0 Warning: If you enter these higher than your
basic salary, the planner won't work properly. We
could have taken care of it but it called for using
₹0 Macros in this sheet which would have made this
₹0 sheet more complex. So, as long as you keep
these values normal, nothing bad will happen.
₹0
₹0

Does your employer provide

Yearly Taxable? this component?
₹ 0 Yes Yes After optimizing your salary for non taxa
components and HRA, this is how your s
₹ 0 Partially Yes components should be for maximum tax
₹ 0 Partially Yes This structure keeps the CTC exactly sam
employer (which also includes employer
₹ 0 Partially Yes contribution towards PF and NPS). So, yo
₹ 0 No Yes employer should not have a problem in
restructuring your salary this way. If you
₹ 0 No Yes unable to negotiate, don't worry. We've
₹ 0 Partially Yes calculations for your existing salary as w
recommended salary.
₹ 0 No Yes
₹ 0 Yes Yes
₹ 0 Yes Yes
₹ 0 Partially Yes
₹ 0 Partially Yes
₹ 0 Partially Yes
₹ 0 Partially Yes
₹ 0 No Yes
₹ 0 Partially Yes
₹0

Proposed

# Classification: Public
 ₹0
₹0
₹0
₹0
₹0
₹0
₹0

₹0
₹0
₹0
₹0

₹0

Enter the details for health insurance premiums that

you are paying for your family

This is what you will be able to claim as deductions for

health insurance after accounting for maximum limits
based on age

1. Enter interest you are earning on savings account

2. Also, standard deduction is automatically applied if you

are salaried.

3. If you make donations, enter the fully deductible amount

4. And if you've taken a loan for electricle vehicle, enter the

interest component of that. Use loan calculator.

5. Enter the interest part of your education loan. Use loan

calculator.

6. Enter the interest part of your home loan

# Classification: Public
 5. Enter the interest part of your education loan. Use loan
calculator.

6. Enter the interest part of your home loan

Proposed
₹0

Proposed
₹0
₹0
₹0
₹0
₹0 These are essentials things which you would do
even if it's not for 80C
₹0
₹ 150,000
Yes Important Output
₹ 150,000

Take the psychometric test on 7Prosper portal and

enter result here followed by current value of your
existing investments

If you wish to set your risk appetite manually, do

it here

Investment with
proposed salary
structure
Suitable based on risk
appetite? Suitable for?
N.A. Long term 7-8 year goals
N.A. For 15+ year goals
For daughter's education or
wedding provided daughter is
N.A. <10 years of age
N.A. Invest for Retirement
N.A. For 5+ year goals
- -

Note: Choose one of the 3

options below while
₹ 0 investing

# Classification: Public
 N.A. Invest for Retirement
N.A. Invest for Retirement
N.A. Invest for Retirement
₹0

₹0
₹0
₹0
₹0
₹0
This shows how NPS is deductible under different
Proposed Salary sections
₹0 NPS is considered only upto 10% of basic in Section
₹0 80C, beyond that an additional amount can be
₹0 considered in section 80CCD(1B).
₹0 Employer's contribution gets considered in
₹0 80CCD(2)

₹0

Other sections which may or may not be relevant for

you.

For Proposed Salary

₹0

Proposed
₹0

Final Output
# Classification: Public
 ₹0
₹0 Final Output
₹0
₹0
₹0 Whether you are going with your current salary
structure or the recommended structure, this is
₹0 how your tax savings will look like.
₹0
All the deductions and exemptions that you will
be able to claim are mentioned here.

₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0
₹0

₹0
₹0
₹0
₹0
₹0
₹0

₹0
₹0
₹0
₹0

₹0
₹0
₹0
₹0

NEW

# Classification: Public
Final Output
 Final Output

# Classification: Public
 Enter all these details by looking at your salary
slip. In column F, explicitly mention if your
employer can provide that salary component
even if you don't get it right now. We will use this
to recommend you the ideal salary structure.

If you are not salaried, enter everything in basic

salary and keep everything in column F as 'No'.
Anything else apart from Basic will be ignored in
case you are non salaried.

esting in NPS either as self employed or

hat monthly amount here. If you invest
e that by 12 and enter.

n towards NPS is only considered if you

)

r your and your employer's PF

his is typically 12% of the basic salary

ployee and employer) is considered

pecified in cell C6.

if you are
and

# Classification: Public
 Important Output

After optimizing your salary for non taxable

components and HRA, this is how your salary
components should be for maximum tax benefit.
This structure keeps the CTC exactly same for the
employer (which also includes employer's
contribution towards PF and NPS). So, your
employer should not have a problem in
restructuring your salary this way. If you are
unable to negotiate, don't worry. We've done
calculations for your existing salary as well as
recommended salary.

# Classification: Public
 This is your investment planner. It's recommended
to invest only in schemes which are suitable for
your risk appetite. You must also consider your
finangial goals. Use a goal calculator to back trace
how much you should be investing in each
scheme.

Also, use this section only if your 80C quota is not

over till now. Otherwise, I recommend a proper
goal based investing which opens up more
options.

In NPS, you can invest in only one of the 3 options

# Classification: Public
under different

f basic in Section
ount can be

dered in

Allowed in new regime?

# Classification: Public
 No
No
No
No
No

No
No
No
No
No

No
No
No
No
Yes
No

# Classification: Public
 Monthly Yearly
Freelancing/Professional Revenue ₹0
Expenses related to Freelancing/Profession ₹0

Net Pre Tax Freelancing/Professional Income ₹0

Net Pre Tax Income as per presumtive tax scheme ₹0

Net Taxable Freelancing/Professional Income ₹0

Business revenue ₹0
Expenses related to business ₹0

Net Pre Tax Business Income ₹0

Net Pre Tax Income as per presumtive tax scheme ₹0

Net Taxable Business Income ₹0

Total taxable income from business and profession ₹0

# Classification: Public
 Advanced Feature
If you want to change your PF component also in your optim
You might decide to contribute specific amount salary structure, you can select an option from here so that
towards NPS and PF based on your overall considered in your salary optimization.
financial planning. You can specify those amounts
here to get your recommended optimized salary
structure.

Type

Desired monthly PF (self contribution) Same as current structure

Desired monthly PF (employer's contribution) Same as current structure

Desired monthly NPS contribution as employer's
contribution ₹0
to change your PF component also in your optimized
ture, you can select an option from here so that it gets
in your salary optimization.

Desired PF as % of Basic

12.00%
Note. % figure in column D will be ignored if type selected
in column C is either "Same as current salary" or "Minimum
12.00% Contribution"

Based on your financial planning, you can specify

the amount of NPS contribution you prefer to make
from your employer's side. This will get considered
in optimizing the salary structure.
 Current Proposed Metro? Rate
Actual HRA ₹0 ₹0 0 40.00%
40/50% of Basic ₹0 ₹0
Rent - 10% of Basic ₹0 ₹0
Valid Rent - 10% of Basic ₹0 ₹0
HRA Claim ₹0 ₹0

For Non salaried

Fixed ₹ 60,000 ₹ 60,000
% of total income ₹0 ₹0
Rent - 10% of income ₹0 ₹0
Valid Rent - 10% of Income ₹0 ₹0
Claim ₹0 ₹0

Final HRA Claim ₹0 ₹0

# Classification: Public
 Salaried? HRA Claim available?
0 Yes

# Classification: Public
 Type
Metro (Mumbai, Delhi, Kolkata, Chennai)
Others
Max HRA as % of Basic
Normal PF % of Basic
Additional PF Rate 1
Additional PF Rate 2
Minimum PF Contribution

Working days in a month

Maximum deduction allowed per meal
Number of allowed meals
Total deduction allowed per month
Total deduction allowed per year

Health Insurance Claim Limit for <60

Health Insurance Claim Limit for >60

Maximum deductible savings account interest

Standard Deduction

Maximum EV loan interest deduction

Maximum home loan interest deduction

80C Limit
80CCD(1B) Limit
80DD Normal
80DD Severe
80DDB Normal
80DDB Senior Citizen
80U No
Yes, less than 40%
Yes, more than 40%
Yes, more than 80%

Rebate Limit
Rebate %

Minimum basic salary as % of total

80GG Maximum
80GG % of Basic
NPS 80CCD Limit as % of Basic
NPS 80CCD(2) limit as % of basic
NPS 80CCD(2) absolute limit

# Classification: Public
 NPS 80CCD Limit for self employed

Maximum revenue for profession under presumtive taxation scheme

Maximum revenue for business under presumtive taxation scheme

Taxable professional income under presumtive tax scheme

Taxable business income under presumtive tax scheme (digital transactions)

# Classification: Public
 Deduction factor Password to unlock this sheet
50.00% unlockonlyifruleschange
40.00%
50.00%
12.00%
10.00%
10.00%
₹ 1,800

22
₹ 50
2
₹ 2,200
₹ 26,400

₹ 25,000
₹ 50,000

₹ 10,000

₹ 50,000

₹ 150,000

₹ 200,000

₹ 150,000
₹ 50,000
₹ 75,000
₹ 125,000
₹ 40,000
₹ 100,000
₹0
₹0
₹ 75,000
₹ 125,000

₹ 500,000
5.00%

30.00%
₹ 60,000
25.00%
10.00%
10.00%
₹ 750,000

# Classification: Public
 20.00%

₹ 5,000,000
₹ 20,000,000

50.00%
6.00%

# Classification: Public