Auto Income Tax Calculator by B.P.

Choudhary (Ta
Calculate your Tax in Just 5 Minutes

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5 Follow the Tax Rules & Informations (where applicable). Following ready reaconer is for your refference.
TAX RULES&OTHER USEFUL INFORMATION
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 Auto Income Tax Calculator by B.P.Choudhary (Tax Con
Calculate your Tax in Just 5 Minutes
Latest Modified Version 5.1 for the Financial year 2010- 11, ASSESSMENT YEAR
Hello-Dears- I am Bijender Pal Choudhary.
this Auto Tax Calculator for common people. This tax calculator may help you to calculate the est
you find any inconsistency, correction or amendments, please let me know, I will try to fix it at the
e-mail at bpchoudhary@gmail.com
REGARD - B.P.CHOUDHARY, 1577 SECTOR - 5, R.K.PURAM, NEW DELHI-110022 Ph : 9811302497
This Calculator will be used to compute the Tax for Common individuals.
Easy to understand & similar as form 16.
You can Calculate your Income Tax in Calculation Sheet & print the Working Sheet.
Once you enter the amount in the blank cells. Other cells in Calculation & Computation Sheets will calculate data & Tax automatically.
5 Follow the Tax Rules & Informations (where applicable). Following ready reaconer is for your refference.
TAX RULES&OTHER USEFUL INFORMATION
HRA exemption = minimum of (40% (50% for metros) of Basic+DA or HRA or rent paid - 10% of Basic+DA)
Transport allowance is exempt upto Rs.800/- per month provided the person is in India during the month. For people having permanent phy
per month
Reimbursement of Medical bills are exempt for self and dependent family, upto Rs.15,000/- per annum
u/s(5) LTA is exempt to the tune of ecomony class Train/ Air /Recognised public Transport fare for the family to any destination in India, by
claimed twice in a block of 4 calendar years. The current block is from 01.01.2010 to 31.12.2013. For claim, it is must to provide originals tick
u/s 24 There is an Exemption for interest on housing loan.(for Self occupied Residence). If the loan was taken before Apr 1, 1999 exemp
loan was taken after Apr 1, 1999 exemption is limited to Rs.1,50,000/- per year if the house is self-occupied; There is no limit if the house is r
This exemption is available on accrual basis, which means if interest has accrued, you can claim exemption, irrespective of whether you've p

If you have rented out your house, enter the total income/loss from the house (after deducting property tax and standard maintenance exp
u/s 80D Medical Insurance (such as Mediclaim & Critical illness Cover) premium is exempt upto Rs. 30,000/ per year (Rs 15,000/- for self,sp
for a dependent who is above 65 years of age, an extra Rs.15,000//- can be claimed.

u/s 80DD Deduction in respect of medical treatment of handicapped dependents is limited to Rs.75,000/- per year if the disability is less
disability is more than 80%
u/s 80DDB Deduction in respect of medical treatment for specified ailments or diseases for the assesse or dependent can be claimed
person being treated is a senior citizen, the exemption can go up to Rs.60,000/-. but any amount received under Medical Insurance Polic
deduction allowed. The Diseases and ailments specified under rule 11DD are.
(1)neurological diseases being demetia, dystonia musculorum deformans, motor neuron disease, ataxia, chorea, hemib
(2) cancer, (3) AIDS, (4)Chronic renal failure, (5) hemophilia, and (6) thalassaemia.

u/s 80E Interest repayment on education loan (taken for higher education from a university of self & dependents) is completely tax exemp

u/s 80G Donations given for certain charities are tax exempt. Some are exempt to the tune of 50%, whereas others are 100%.
u/s 80GG If you are not getting HRA, but living in rented house, an exemption is available. This will be calculated as minimum of (25% of tot
or Rs.24,000/- per year)
Interest earned from all sources is to be included. All interest (including saving Bank A/C, FD) income is fully taxable.
u/s 80U If you have a permanent physical disability (including blindness), you can take an exemption (subject to maximum of Rs.75,000/-
u/s 80C Maximum exemption up to Rs. 120000/- Investments up to 1 lac in PF, VPF, PPF, Insurance Premium, Housing loan principal rep
Deposit, Post Office Term Deposit, etc. are deductible from the taxable income. There is no limit on individual items, (for example) all 1 lac ca
is PPF where the maximum investment is limited to Rs.70,000/-. An additional Rs.20,000/- can be invested in long-term infrastructure bonds,
As per clarification from IT department, all perquisites such as rent-free accommodation, company provided car, free or concessional educati
club membership, company provided credit card, gift vouchers, meal coupons, hotel stay beyond 15 days, are fully taxable.

HOW TO GET AN UPDATE

This tax calculator constantly gets updated to fix errors found as well as to add new features
This may also be changed when there are changes in tax rules that affect income tax computation
You can send an e-mail for the current version of tax calculator, within a day or two. Once you send a request for our calculator. In
version autimatically.whenever I update,
I PROVIDE SERVICES FOR
TAX ASSESSMENT(CALCULATION)
IT RETURNS
PAN CARD
CUSTIMISED SAVINGS/INVESTMENTS/ INURANCE SOLUTIONS (LIFE/ NON LIF
CALL M E F O R P R E S E N T A T I O N : B. P. C H O U D A R Y P h : 9 8 1 1 3 0 2 4 9 7, 9 2 1 1 1
1577 SECTOR-5 R.K.PURAM NEW DELHI-110022

ADVISE

Mostly people gives estimated declaration at year starting to minimise their Tax Liabilities but could not save up to la
months, so it is advisable to save from start on monthly basis through Bank ECS as a SAP ,
touch with me for Tax saving schemes to mininimize your Tax liabilities. I am providing consultancy for Tax assessm
investment Plans .
 WORKING SHEET OF INCOME TAX D.O.B 12/30/1899
for the Financial Yr 2010-10, Assessment yr 2011-12 SEX - MALE
NAME : PAN

PHONE :
ADDRESS :
Email id-
1. Gross Annual Income/Salary 0
2. Less: Allowances exempt u/s 10 0
(I) H.R.A. exemption 0

(II) Conveyance allowances 0

(iii) Professional Tax 0
( iv) Any Other Exempted Receipts/ Allowances 0
3. Income under the head salaries 0
4. Add: Any other income from other sources 0
1. Interest received from following Investments
a. Bank (Saving /FD /Rec ) 0

b. N.S.C. (accrued/ Recd ) 0

c. Post Office M.I.S (6 yrs.) 0
d. Post Office Recurring Deposit (5 yrs.) 0
e. Term Deposit (1 to 5 yrs.) 0
f. Saving Bonds (6yrs.) 0
g. Kishan Vikas patra 0
2. Any Other Income 0
3. Any Other Income 0
5. Income from house property 0
6. Gross Total Income 0
7. Less: Deduction under chapter VI A 0
a. Less: Deduction under Sec 80C 0
1. PF & VPF Contribution 0
2. Life Insurance premiums 0
3. PPF a/c Contribution 0
4. N.S.C (Investment +accrued Int first five year) 0
5. Housing. Loan (Principal Repayment ) 0
6. Tuition fees for 2 children 0
7. E.L.S.S ( Mutual Fund ) 0
8. FD (5 Years and above) 0
9. 80 ccc Pension Plan 0
10. Tax Savings Infrastructure Bonds (Max upto 20,000) 0
b 1. u/s 80 D Medical Insurance premiums (for Self ) 0
b 2. 80 D Medical Insurance premiums (for Parents) 0 0
c. u/s 80 E Int Paid on Education Loan 0
d. u/s 80G Donation to approved fund 0
e. Any other Deduction U/S 80 A-U 0
8. Total Income 0
9. Total Taxable Income (Round off to nearest 10 rupees) 0
10. Tax on Total Income 0
11. Add; Edn Cess @ 3% 0
12. Total Tax Payable 0
13. Tax Deduction at Source 0
14. Balance Tax Refundable 0