Income Tax and Taxable Income Calculator for 2010-11

For Individual Male, Female & Senior Citizens and HUFs

 

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Enter data in only shaded boxes.
Click on any "Calculate" button to carry out all calculations.
A Calculation of Income from Salary
1 Total Salary and / or Pension as per Form 16
2 Less : Allowances Exempt under Section 10
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:
  Amount Rate Income Tax
1.
2.
3.
Total
E Agricultural Income for Rate Purpose only
F Aggregate Income
G Calculation of Deductions from Taxable Income
1 Deductions under Sec. 80C, 80CCC & 80CCD.
(Max. Rs. 1 lakh)
2 Deductions under Sec. 80D for Health Insurance. (Max. Rs. 20,000/- for Senior Citizens & Rs. 15,000/- for others).
3 Deductions under Sec. 80D for Health Insurance of parents. (Max. Rs. 20,000/- if parents are Senior Citizen, otherwise Rs. 15,000/-).
4 Deductions under Sec. 80DD. Max. Rs. 1 lac.
5 Deductions under Sec. 80DDB. Max. Rs. 40,000/-.
6 Deductions under Sec. 80E.
7 Deductions under Sec. 80G.
8 Deductions under Sec. 80GG.
9 Deductions under Sec. 80U.
10 Deductions under Sec. 80RRB.
11 Any other eligible deduction
12 Total Deductions from Taxable Income
Total Taxable Income
H TDS / Advance Tax Deposited, if any
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
Advance Tax + TDS payable by 15th September 2009
Advance Tax + TDS payable by 15th December 2009
Advance Tax + TDS payable by 15th March 2010