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A | Calculation of Income from Salary |
| 1 | Total Salary and / or Pension as per Form 16 ( Excluding all exempt/ non-exemptallowances, perquisites & profit in lieu of salary ) | |
| 2 | Allowances Exempt under Section 10 ( Will not be added to the Total Income from Salary chargeable to Income Tax ) | |
| 3 | Add : Allowances not exempt | |
| 4 | Add : Value of Perquisites and / or Fringe Benefits | |
| 5 | Add : Profits in lieu of Salary | |
| Total Income from Salary chargeable to Income Tax (1-2+3+4+5) | | |
B | Calculation of Income from House Property |
| 1 | Annual Lettable Value or Rent Received or Receivable | |
| 2 (i) | Taxable Amount of Rent | |
| 2 (ii) | Taxes paid to Local Authorities ('0', If self occupied) | |
| 3 | Taxable amount of Rent Received / Realized{70% of (1 - 2 - 3)] | |
| 4 | Interest payable on borrowed capital | |
| Income from House Property chargeable to Income Tax (3 - 4) | | |
C | Calculation of Income from Capital Gains (Short Term + Long Term) |
| 1 | Income chargeable at Normal Rates | |
| 2 | Income Chargeable at Special Rates | |
| Total Income from Capital Gains (1 + 2) | | |
D | Calculation of Income from Other Sources viz. Interest, Dividend etc. |
| 1 | Income chargeable at Normal Rates | |
| 2 | Income Chargeable at Special Rates | |
| Total Income from Other Sources | | |
Details of Income Tax at Special Rate included in C and D above:
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E | Agricultural Income for Rate Purpose only | |
F | Aggregate Income | | |
G | Calculation of Deductions from Taxable Income |
| 1 | Deductions under Sec. 80C, 80CCC & 80CCD. (Other than Infrastructure Bonds)
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| 2 | Deductions under Sec. 80CCF for Investment in Infrastructure Bonds (Max. Rs. 20,000) | |
| 3 | Deductions under Sec. 80D for Health Insurance. (Max. Rs. 20,000/- for Senior Citizens & Rs. 15,000/- for others). | |
| 4 | Deductions under Sec. 80D for Health Insurance of parents.
(Max. Rs. 20,000/- if parents are Senior Citizen, otherwise Rs. 15,000/-). | |
| 5 | Deductions under Sec. 80DD. Max. Rs. 1 lac. | |
| 6 | Deductions under Sec. 80DDB. Max. Rs. 40,000/-. | |
| 7 | Deductions under Sec. 80E.
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| 8 | Deductions under Sec. 80G.
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| 9 | Deductions under Sec. 80GG.
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| 110 | Deductions under Sec. 80U.
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| 11 | Deductions under Sec. 80RRB.
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| 12 | Any other eligible deduction | |
| 13 | Total Deductions from Taxable Income | | |
| Total Taxable Income | |
H | TDS / Advance Tax Deposited, if any | |
I | Calculation of Taxable Income, Income Tax, Educational Cess, Total Tax Liability and Net Income |
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| Description | Income | Income Tax |
| Exempt Income | | |
| Income chargeable at 10% | | |
| Income chargeable at 20% | | |
| Income chargeable at 30% | | |
| Income chargeable at Special Rates | | |
| Total | | |
| Less : Income Tax on Agricultural Income included above | |
| Income Tax Payable | |
| Education Cess @ 3% of Income Tax Payable | |
| Total Tax liability | |
| Less: TDS / Advance Tax deposited | |
| Net Income Tax due | |
| Income Net of Income Tax Liability | |