tax clculator

Income Tax Calculator for FY 2012-13

www.ApnaPlan.com
Birth date
Age 7-Oct-81 31

Gross Annual Income/Salary (with all allowances) Less: Allowances exempt u/s 10(for Service Period)
(I) H.R.A. exemption City of Residence Basic Salary (Basic+DA) Rent Paid H.R.A received (II) Conveyance allowances(Max Rs.800/-p.m) (iii) Any Other Exempted Receipts/ allowances (iv) Professional Tax

1,272,972 191,862
M

383,724 231,000 191,862 0 0 0

191,862 192,628 191,862 0 0 0 0

Income under the head salaries Add: Any other income from other sources
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.) e. Term Deposit (1 to 5 yrs.) f. Saving Bonds (6yrs.) g. Kishan Vikas patra 2. Any Other Income 3. Any Other Income

Income from house property

Less: Interest paid on housing loan(max150,000)

0 0 0 0 0 0 0 0 0 0 148,993 100,000 41,861 20,379 0 0 61,336 0 0 0 0 0 0 0

Gross Total Income Less: Deduction under Sec 80C (Max Rs.1,00,000/-)
a. PF&VPF Contribution b. Life Insurance premiums c. PPF a/c Contribution d. N.S.C (Investment +accrued Int first five year) e. Housing. Loan (Principal Repayment ) f. Tuition fees for 2 children g. E.L.S.S(Mutual Fund) h. Tax Savings Bonds I. FD (5 Years and above) j. 80 ccc Pension Plan

Less: Deduction under chapter VI A

b. 80 D Medical Insurance premiums (for Self ) Page 1

tax clculator C. 80 D Medical Insurance premiums (for Parents) d. 80 E Int Paid on Education Loan e. 80G Donation to approved fund f. Any other

0 18,000 0 0

Total Income
Total Tax Payable Add; Edn Cess @ 3%

Net Tax Payable

Tax to Total Income Ratio

Page 2

tax clculator

1,272,972 -191,862

1,081,110 0

-148,993 932,117 -100,000

-18,000

Page 3

tax clculator

814,117 92,823 2,785

95,608
8%

Page 4

Top 10 Tax-saving Instruments for Investors! Let me share with you a small personal tryst with investment in Equity-linked Savings Scheme (ELSS) for tax-saving purposes. towards direct equity investments rather than going through the mutual

However, in order to stifle my taxable income, I had to invest Rs. 30,000 in an ELSS scheme way back in Feb-2008. The Ind Sensex hovering around 16000 levels.

The time ticked by and it was Feb-2009 on the calendar. It was time to invest another Rs. 30,000 to save on taxes. The Sensex the trough of the bear market. Needless to say, there was panic written all o

Top 10 Tax saving Instruments for Investors!

Fortunately, for me, this period turned out to be a golden opportunity to average my previous lump-sump investment which we 60,000 investments now stood correlated with Sensex 12000 lev

But, you might not be lucky enough to get such averaging opportunities just around the end of every financial year. Your lumpyour investments are made arbitrarily during the year-end. They need to be planned well in LESSONS:

Plan your tax-saving instruments dont leave it for the last ho Even tax-saving investments can be routed through systematic Most of the tax-saving investments are for minimum of 3 yea Determine which investment option to save taxes suits you the Investments with mere intention of saving taxes might backfire o

ents for Investors! for tax-saving purposes. Since I track stock markets closely, my preference is usually tilted going through the mutual fund route.

ack in Feb-2008. The Indian markets were in the midst of a severe bear phase then, with 16000 levels.

ve on taxes. The Sensex was quoting at paltry 8000 levels on hindsight, it turned out to be re was panic written all over the screen.

ents for Investors!

mp investment which went in at higher levels of market. The average value of my total Rs. ed with Sensex 12000 levels.

inancial year. Your lump-sump investments may not necessarily stand you in sweet spot if eed to be planned well in advance through out the year.

ont leave it for the last hour. uted through systematic plans. are for minimum of 3 years. save taxes suits you the best. ng taxes might backfire on you.