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DISCLAIMER This tax calculator can be used to calculate the approximate tax payable by salaried individuals. This should NOT be used to compute the actual taxes to be paid to the Government. The author is not resposible for any inaccuracies in the tax computed by this calculator. If you find any inconsistency, please let me know and I will try to fix it at the earliest
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Available for free download at: http://taxcalc.ynithya.com/ email: taxcalc@ynithya.com HOW TO GET AN UPDATE / CONTACT ME
1 2 3 4 5 6 7 8 9 10 This tax calculator constantly gets updated to fix errors found as well as to add new features This may also be changed when there are changes in tax rules that affect income tax computation The latest version of this tool is available for free download from the Internet at http://taxcalc.ynithya.com/ Please check back frequently (at least once every 2 months) to see that you have the latest version. You can compare the version number at the top of this instructions page. However, if you have subscribed, you will automatically receive updates You can also send a blank e-mail to taxcalc@ynithya.com with only the subject line as "SEND TAXCALC" and the latest version of tax calculator will be e-mailed to you within a day or two If you want me to send you a new version whenever I update, please send a blank e-mail to taxcalc@ynithya.com with only the subject as "SUBSCRIBE". There are no charges for subscription If you find any inaccuracy in the calculation or want clarification on some aspect of the tax calculator, please send an e-mail with the details of your query to taxcalc@ynithya.com with subject as "CLARIFICATION" and I will try to reply within a week If you are already on my list and no longer want to get updates, send a blank e-mail to taxcalc@ynithya.com with only the subject as "UNSUBSCRIBE" While sending e-mail, please ensure that the subject line is exactly as given here (without the quotes), because the processing is done automatically. Other mails will be deleted automatically Since I am not a chartered accountant or a tax consultant, I am not in a position to answer specfic queries related to taxation. You will have to contact a tax consultant for your specific queries
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Basic DA Convey HRA Ch. Educ Medical LTA Uniform All. Misc Misc Misc Misc Misc Misc Misc Misc Misc Misc Total Prof tax PF VPF IT Rent Life Insur. Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Oth Ded Tot Ded Net Loan/Wdwl OB Int CB VPF % Co. Car used? Co. Car driver? In India? Metro/non? PF%
Earnings
0 0 0 0 0
0 0
0 0
Tax Computation Gross Salary Profession Tax Exemptions under section 10 & 17 Gross Salary after Section 10 & 17 exemptions Accommodation & Car Perquisites Income chargeable under head 'Salaries' Income chargeable under head 'House/Property' Income chargeable under head 'Capital Gains' at nominal rate Income chargeable under head 'Other Sources' Gross Total Income Deductions under chapter VI-A Deductions under sec 80C Net taxable income
PF
Deductions
Exemptions under section 10 & 17 HRA Exemption (Sec 10 (13A)) Transport Exemption (Sec 10(14)) Other exemptions under Sec 10 (10) (gratuity, etc.) Medical Bills Exemption (Sec 17(2)) Children's Education Allowance Exemption (sec 10 (14)) Savings bank interest LTA exemption (Sec 10(5)) Uniform expenses (Sec 10(14)) Total Exempted Allowances Other income House/property income or loss (enter loss as negative) Interest on housing loan (for tax exemption) Other income (interest, etc.) - include SB int. above; not here Deductions under Chapter VI-A
SETUP PARAMETERS Metro/Non-metro (M or N) HRA Exempt limit (of Basic+DA) PF/VPF deductions PF as a percentage of "Salary" PF limited to Rs. (if there is a max. limit for deduction) VPF as a percentage of "Salary" Interest rate on PF/VPF VPF as "Percentage of salary" or "Fixed amount"? (P or F) For Housing Loan House self-occupied? (Y or N) Loan taken after Apr 1, 1999? Sanctioned in 2013-14, amt < 25L, cost < 40L, first house? Miscellaneous Sr. citizen included in medical insurance premium? (Y or N)
P Y Y N N
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PC Loan
Soft Loan
Salary Loan
Marriage Loan
Other Loan
Other Loan
Other Loan
Original Loan Amount Loan Taken In Month/Year Loan Closed Month/Year No. of instalments Co. interest rate EMI Original Loan Amount Loan Taken In Month/Year Loan Closed Month/Year No. of instalments Co. interest rate EMI Prescribed interest rate
100 0.00% 0 0
50 4.00% 0 0
36 0.00% 0 0
36 4.00% 0 0
10 0.00% 0 0
36 0.00% 0 0
15 0.00% 0 0
36 0.00% 0 0
50 0.00% 0 0
36 4.00% 0 0
50 0.00% 0 0
Second Loan Details (if loan of same type is taken again during the year) -- see Instructions below
50 4.00% 0 10.00%
36 0.00% 0 12.00%
36 4.00% 0 12.00%
10 0.00% 0 12.00%
36 0.00% 0 12.00%
15 0.00% 0 12.00%
36 0.00% 0 12.00%
50 0.00% 0 12.00%
36 4.00% 0 12.00%
50 0.00% 0 12.00%
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0.00
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Scrip Name
Gains 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
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Scrip Name
Gains 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Short Term Gains Total Long Term Gains Total Capital Gains
0 0 0
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Scrip Name
Gains
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