Particulars Details Type Amount in Rs.

Gross Income (CTC) Salary, Bonus, Allowances, Other income etc Input 561,015
HRA Exemptions u/s 10 A HRA Calculation below Input 99,000
Other Exemptions u/s 10 A Medical, Convenyance etc Input 24,600
Professional Tax Professional Tax Input 2,400
Net Income under Salaries Gross Income - Exemptions Output 435,015
Deductions u/s 80 C Investments in PF, PPF, Life Ins., ELSS, NPS etc Input 140,400
Deductions u/s 80 CCG Investments in RGESS (50% of Investments) Input 22,000
Deductions u/s 80 D Medical Insurance Premium (Self, Parents) Input 26,000
Deductions u/s 80 G Eligible Donations upto specified percentage Input -
Deductions u/s 80 E Interest Paid on Education Loan Input -
Deduction u/s 80 TTA Interest Received on Savings Bank A/C Input -
Tax Benefit u/s 24 Interest Paid On Home Loan (Max 2 L) Input -
Total Deductions/Benefits 188,400
Taxable Income Tax payable on this income Output 246,615
Tax Slab Slab Income Tax Rate Tax Amount
Income Tax Payee Type Male, Female, Sr. Citizen>60, Very Sr. Citizen>80 Input Male
250,000 246,615 0% -
500,000 - 10% -
1,000,000 - 20% -
10,00,000+ - 30% -
Tax on Total Income Output -
Surcharge 10% on Tax if Income > Rs 1 Crore 10% -
Tax with Surcharge Output -
Education Cess 3% -
Tax with Cess Output -
Tax Credit Upto Rs. 2000 if Taxable Income < Rs. 5 lakhs Output -
Tax Liability Output -
Monthly Income Gross Income/12 Output 46,751
Monthly Tax (Appx TDS) Tax Liability/12 Output -
Income Tax Ratio Gross Income/Tax Liability Output 0.00%
Income Tax Calculator FY 2014-15
Income Tax Ratio
Input Non-metro
Input 235,000
Input 99,000
Input 99,000
Least of the following will be HRA Exemption 75,500
1 HRA Receieved Output 99,000
2 % of Salary+DA (50%-Metro & 40%-Non-metro) Output 94,000
3 Rent paid in excess of 10 % of salary Output 75,500
HRA Exemption Calculator
Copyright - Network FP l Created by - Sadique Neelgund, CFP
CM
, Founder, Network FP l Applicable for FY 2013-14
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City living in
Basic Salary + DA
HRA Received
Actual Rent Paid