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tax clculator

Income Tax Calculator for FY 2019-20 (AY 2020-21)


www.ApnaPlan.com
Name XXXXXXXXX
PAN Number AXXXXXXXX

Birth date
Age
Gross Annual Income/Salary (with all allowances) 1,250,000
Less: Allowances exempt u/s 10(for Service Period)
(I) H.R.A. exemption
City of Residence Metro
Basic Salary (Basic+DA) 300,000
Rent Paid 300,000
H.R.A received 150,000
(II) Standard Deduction for Salaried & Pensioner (Rs 50,000) Budget 2019 50,000
(iii) Any Other Exempted Receipts/ allowances 0
(iv) Professional Tax 0
Income under the head salaries
Add: Any other income from other sources
1. Interest received from following Investments
a. Bank ( Saving /FD /Rec ) 0
b. N.S.C.(accrued/ Recd ) 0
c. Post Ofice M.I.S (6 yrs.) 0
d. Post Office Recring Deposit (5 yrs.) 0
2. Any Other Income 0
3. Any Other Income 0
Less: Exemption on Home Loan Interest (Sec 24)
Loss from house property (Section 24) 135,836
Additional tax exemption for First Time Home Buyers (Budget 2016) 0
Interest paid on Home Improvement Loan (max 30,000) 0
Gross Total Income
Less: Deduction under Sec 80C (Max Rs.1,50,000/-)
A. EPF & VPF Contribution 72,080
B. Public Provident Fund (PPF) 0
C. Senior Citizen’s Saving Scheme (SCSS) 0
D. N.S.C (Investment + accrued Interest before Maturity Year) 0
E. Tax Saving Fixed Deposit (5 Years and above) 61,336
F. Tax Savings Bonds 0
G. E.L.S.S (Tax Saving Mutual Fund) 0
H. Life Insurance Premiums 100,000

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I. New Pension Scheme (NPS) (u/s 80CCC) 0


J. Pension Plan from Insurance Companies/Mutual Funds (u/s 80CCC) 0
K. 80 CCD Central Govt. Employees Pension Plan (u/s 80CCD) 0
L. Housing. Loan (Principal Repayment) 0
M. Sukanya Samriddhi Account
N. Stamp Duty & Registration Charges 0
O. Tuition fees for 2 children 0
Less: Additional Deduction under Sec 80CCD NPS (Max Rs 50,000/-) 50,000
Less: Deduction under chapter VI A
A. 80 D Medical Insurance premiums (for Self ) 0
B. 80 D Medical Insurance premiums (for Parents) 22,251
C. 80 E Int Paid on Education Loan 0
D. 80 DD Medical Treatment of handicapped Dependent 0
E. 80DDB Expenditure on Selected Medical Treatment for self/ dependent 0
F. 80G, 80GGA, 80GGC Donation to approved funds 0
G. 80GG For Rent in case of NO HRA Component (Budget 2016) 0
H. 80U For Physically Disable Assesse 0
I. 80TTA (Rs 50,000 for Senior Citizens & Rs 10,000 for others) (Budget 2018) 10,000
Less: Deduction under Sec 80CCD(2) NPS (Employer Contribution) 100,000
Total Income
Tax Rebate of Rs. 12,500 (For Income of less than 5 lakhs) (Budget 2019)
Total Tax Payable
Tax Surcharge @ 10%/15% (For Income of more than 50 Lakhs/1 crore respectively) (Budget 2017)
Add; Edn Cess + Health Cess @ 4%
Net Tax Payable
Advance Tax Paid
Tax Remianing to be Paid
Tax to Total Income Ratio

In case of any queries or doubts please mail at - apnaplan.com@gmail.com

Terms of Usage: I encourage you to share this Income Tax Calculator for benefit of your friends and family. The usage is res
non commercial use only.

Disclaimer: All care has been taken to keep the information upto date and correct and is for educational purpose only. You a
encouraged to consult your Tax Advisor before taking any decesion based on this calculator.

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Y 2020-21) For any Queries write to -


apnaplan.com@gmail.com

XXXXXXXXX
AXXXXXXXX

1-Oct-84 Fill up only the Orange Cells


31-Mar-20
35
1,250,000
-200,000
150,000 For Income Tax purpose - only Delhi, Mumbai,
Chennai & Kolkatta are considered as metro
cities. Noida, Gurgaon etc are Non-metro
150,000 cities.
270,000
150,000
You can take Tax Benefit on both HRA & Home
50,000 Loan.
0 In case of any queries Click here.
0
1,050,000
0 0

The maximum exemption on Home Loan


-135,836 interest is Rs. 2 lakhs irrespective of it being
-135,836 Letout or Self-Occupied [in Budget 2017]
0
0
914,164
150,000 -150,000

Click here to
Choose the best investment under 80C.

Click here to choose the Best Tax Saving Fixed


Deposit rates from banks

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Click here to choose the Best Tax Saving Fixed
Deposit
tax rates from banks
clculator

Click here to choose the Best Tax Saving


Mutual Funds (ELSS)

Click Here to know about


Sukanya Samriddhi Account

-50,000 Read more about Tax benefit on NPS


-32,251
0
22,251
0 Click Here in case of any doubt on Education
0 Loan Tax Exemption
0
0
0
0 Click Here to know about NPS Tax exemption
10,000 u/s 80CCD(1), 80CCD(2) & 80CCD(1B)
100,000 -100,000
581,913 Tax Rebate u/s 87A has been increased to Rs
0 12,500 from Rs 2,500 in Budget for people with
28,883 income less than Rs 5 Lakhs
Click for more details
ely) (Budget 2017) 0
1,155
30,038
0
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30,038
2%

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s and family. The usage is restricted to

ducational purpose only. You are

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