Income Tax Calculator FY 2015-16 (AY 2016-17)

Particulars Details Type

Gross Income (CTC) Salary, Bonus, Allowances, Other income etc Input

HRA Exemptions u/s 10 A HRA Calculation below Input

Other Exemptions u/s 10 A Medical, Convenyance etc Input

Professional Tax Professional Tax Input

Net Income under Salaries Gross Income - Exemptions Output

Deductions u/s 80 C Investments in PF, PPF, Life Ins., ELSS, NPS etc Input

Deductions u/s 80 CCG Investments in RGESS (50% of First time Invest) Input

Deductions u/s 80 CCD Investments in NPS (50 K Maximum) Input

Deductions u/s 80 D Medical Insurance Premium (Self, Parents) Input

Deductions u/s 80 G Eligible Donations upto specified percentage Input

Deductions u/s 80 E Interest Paid on Education Loan Input

Deductions 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

Taxable Income Tax payable on this income Output

Tax Slab Slab Income Tax Rate

Income Tax Payee Type Male, Female, Sr. Citizen>60, Very Sr. Citizen>80 Input

250,000 250,000 0%

500,000 250,000 10%

1,000,000 85,300 20%

10,00,000+ - 30%

Tax on Total Income Output

Surcharge 12% on Tax if Income > Rs 1 Crore 12%

 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

Income Tax Ratio

Monthly Income Gross Income/12 Output

Monthly Tax (Appx TDS) Tax Liability/12 Output

Income Tax Ratio Gross Income/Tax Liability Output

HRA Exemption Calculator

City living in Input

Basic Salary + DA Input

HRA Received Input

Actual Rent Paid Input

Least of the following will be HRA Exemption

1 HRA Receieved Output

2 % of Salary+DA (50%-Metro & 40%-Non-metro) Output

3 Rent paid in excess of 10 % of salary Output

Copyright - Network FP l Created by - Sadique Neelgund, Founder, Network FP

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Amount in Rs.

1,200,000

99,000

18,200

2,500

1,080,300

150,000

25,000

50,000

25,000

20,000

15,000

10,000

200,000

495,000

585,300

Tax Amount

Male

25,000

17,060

42,060

-
 42,060

1,262

43,322

43,322

100,000

3,610

3.61%

Metro

450,000

144,000

144,000

99,000

144,000

225,000

99,000