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Tax Calculation for FY: 2019-20

name
email
mobile
date of birth
pan number
Gross Annual Income/Salary (with all allowances)
(I) H.R.A. exemption
City of Residence
Basic Salary (Basic+DA)
Rent Paid (Yearly)
H.R.A received
(II) Standard Deduction for Salaried & Pensioner (Rs 50,000) Budget 2019
(iii) Any Other Exempted Receipts/ allowances
(iv) Professional Tax
1. Interest received from following Investments
a. Bank ( Saving /FD /Rec )
b. N.S.C.(accrued/ Recd )
c. Post Ofice M.I.S (6 yrs.)
d. Post Office Recring Deposit (5 yrs.)
2. Any Other Income
3. Any Other Income
Less: Exemption on Home Loan Interest (Sec 24)
Loss from house property (Section 24)
Additional tax exemption for First Time Home Buyers (Budget 2016)
Interest paid on Home Improvement Loan (max 30,000)
Less: Deduction under Sec 80C (Max Rs.1,50,000/-)
A. EPF & VPF Contribution
B. Public Provident Fund (PPF)
C. Senior Citizen’s Saving Scheme (SCSS)
D. N.S.C (Investment + accrued Interest before Maturity Year)
E. Tax Saving Fixed Deposit (5 Years and above)
F. Tax Savings Bonds
G. E.L.S.S (Tax Saving Mutual Fund)
H. Life Insurance Premiums
I. New Pension Scheme (NPS) (u/s 80CCC)
J. Pension Plan from Insurance Companies/Mutual Funds (u/s 80CCC)
K. 80 CCD Central Govt. Employees Pension Plan (u/s 80CCD)
L. Housing. Loan (Principal Repayment)
M. Sukanya Samriddhi Account
N. Stamp Duty & Registration Charges
O. Tuition fees for 2 children
Less: Additional Deduction under Sec 80CCD NPS (Max Rs 50,000/-)
Less: Deduction under RGESS Sec 80CCG (Max Rs. 50,000/-)
Less: Deduction under chapter VI A
A. 80 D Medical Insurance premiums (for Self )
B. 80 D Medical Insurance premiums (for Parents)
C. 80 E Int Paid on Education Loan
D. 80 DD Medical Treatment of handicapped Dependent
E. 80DDB Expenditure on Selected Medical Treatment for self/ dependent
F. 80G, 80GGA, 80GGC Donation to approved funds
G. 80GG For Rent in case of NO HRA Component (Budget 2016)
H. 80U For Physically Disable Assesse
I. 80TTA (Rs 50,000 for Senior Citizens & Rs 10,000 for others) (Budget 2018)
Less: Deduction under Sec 80CCD(2) NPS (Employer Contribution)
Less: Deduction under Sec 80EEA (Interest on Home Loan for Affordable Home) (Budget 2019)
Less: Deduction under Sec 80EEA (Interest on Auto Loan for Electronic Vehicle) (Budget 2019)
Age
Gross Annual Income/Salary (with all allowances)
Less: Allowances exempt u/s 10(for Service Period)
Income under the head salaries
Add: Any other income from other sources
Less: Exemption on Home Loan Interest (Sec 24)
Gross Total Income
Less: Deduction under Sec 80C (Max Rs.1,50,000/-)
Less: Additional Deduction under Sec 80CCD NPS (Max Rs 50,000/-)
Less: Deduction under RGESS Sec 80CCG (Max Rs. 50,000/-)
Less: Deduction under chapter VI A
Less: Deduction under Sec 80CCD(2) NPS (Employer Contribution)
Less: Deduction under Sec 80EEA (Interest on Home Loan for Affordable Home) (Budget 2019)
Less: Deduction under Sec 80EEA (Interest on Auto Loan for Electronic Vehicle) (Budget 2019)
Total Income
Tax Rebate of Rs. 12,500 (For Income of less than 5 lakhs) (Budget 2019)
Total Tax Payable
Tax Surcharge @ 10%/15%/25%/37% (Income more than 50 Lakhs/1 cr/2 cr/5 cr respectively) (Budget 2019)
Add; Edn Cess + Health Cess @ 4%
Net Tax Payable
Advance Tax Paid
Tax Remianing to be Paid
Tax to Total Income Ratio

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