tax clculator

Income Tax Calculator for FY 2019-20 (AY 2020-21)

www.ApnaPlan.com
Name XXXXXXXXX
PAN Number AXXXXXXXX

Birth date
Age
Gross Annual Income/Salary (with all allowances) 1,250,000
Less: Allowances exempt u/s 10(for Service Period)
(I) H.R.A. exemption
City of Residence Metro
Basic Salary (Basic+DA) 300,000
Rent Paid 300,000
H.R.A received 150,000
(II) Standard Deduction for Salaried & Pensioner (Rs 50,000) Budget 2019 50,000
(iii) Any Other Exempted Receipts/ allowances 0
(iv) Professional Tax 0
Income under the head salaries
Add: Any other income from other sources
1. Interest received from following Investments
a. Bank ( Saving /FD /Rec ) 0
b. N.S.C.(accrued/ Recd ) 0
c. Post Ofice M.I.S (6 yrs.) 0
d. Post Office Recring Deposit (5 yrs.) 0
2. Any Other Income 0
3. Any Other Income 0
Less: Exemption on Home Loan Interest (Sec 24)
Loss from house property (Section 24) 135,836
Additional tax exemption for First Time Home Buyers (Budget 2016) 0
Interest paid on Home Improvement Loan (max 30,000) 0
Gross Total Income
Less: Deduction under Sec 80C (Max Rs.1,50,000/-)
A. EPF & VPF Contribution 72,080
B. Public Provident Fund (PPF) 0
C. Senior Citizen’s Saving Scheme (SCSS) 0
D. N.S.C (Investment + accrued Interest before Maturity Year) 0
E. Tax Saving Fixed Deposit (5 Years and above) 61,336
F. Tax Savings Bonds 0
G. E.L.S.S (Tax Saving Mutual Fund) 0
H. Life Insurance Premiums 100,000

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I. New Pension Scheme (NPS) (u/s 80CCC) 0

J. Pension Plan from Insurance Companies/Mutual Funds (u/s 80CCC) 0
K. 80 CCD Central Govt. Employees Pension Plan (u/s 80CCD) 0
L. Housing. Loan (Principal Repayment) 0
M. Sukanya Samriddhi Account
N. Stamp Duty & Registration Charges 0
O. Tuition fees for 2 children 0
Less: Additional Deduction under Sec 80CCD NPS (Max Rs 50,000/-) 50,000
Less: Deduction under chapter VI A
A. 80 D Medical Insurance premiums (for Self ) 0
B. 80 D Medical Insurance premiums (for Parents) 22,251
C. 80 E Int Paid on Education Loan 0
D. 80 DD Medical Treatment of handicapped Dependent 0
E. 80DDB Expenditure on Selected Medical Treatment for self/ dependent 0
F. 80G, 80GGA, 80GGC Donation to approved funds 0
G. 80GG For Rent in case of NO HRA Component (Budget 2016) 0
H. 80U For Physically Disable Assesse 0
I. 80TTA (Rs 50,000 for Senior Citizens & Rs 10,000 for others) (Budget 2018) 10,000
Less: Deduction under Sec 80CCD(2) NPS (Employer Contribution) 100,000
Total Income
Tax Rebate of Rs. 12,500 (For Income of less than 5 lakhs) (Budget 2019)
Total Tax Payable
Tax Surcharge @ 10%/15% (For Income of more than 50 Lakhs/1 crore respectively) (Budget 2017)
Add; Edn Cess + Health Cess @ 4%
Net Tax Payable
Advance Tax Paid
Tax Remianing to be Paid
Tax to Total Income Ratio

In case of any queries or doubts please mail at - apnaplan.com@gmail.com

Terms of Usage: I encourage you to share this Income Tax Calculator for benefit of your friends and family. The usage is res
non commercial use only.

Disclaimer: All care has been taken to keep the information upto date and correct and is for educational purpose only. You a
encouraged to consult your Tax Advisor before taking any decesion based on this calculator.

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Y 2020-21) For any Queries write to -

apnaplan.com@gmail.com

XXXXXXXXX
AXXXXXXXX

1-Oct-84 Fill up only the Orange Cells

31-Mar-20
35
1,250,000
-200,000
150,000 For Income Tax purpose - only Delhi, Mumbai,
Chennai & Kolkatta are considered as metro
cities. Noida, Gurgaon etc are Non-metro
150,000 cities.
270,000
150,000
You can take Tax Benefit on both HRA & Home
50,000 Loan.
0 In case of any queries Click here.
0
1,050,000
0 0

The maximum exemption on Home Loan

-135,836 interest is Rs. 2 lakhs irrespective of it being
-135,836 Letout or Self-Occupied [in Budget 2017]
0
0
914,164
150,000 -150,000

Click here to
Choose the best investment under 80C.

Click here to choose the Best Tax Saving Fixed

Deposit rates from banks

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 Click here to choose the Best Tax Saving Fixed
Deposit
tax rates from banks
clculator

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Mutual Funds (ELSS)

Click Here to know about

Sukanya Samriddhi Account

-50,000 Read more about Tax benefit on NPS

-32,251
0
22,251
0 Click Here in case of any doubt on Education
0 Loan Tax Exemption
0
0
0
0 Click Here to know about NPS Tax exemption
10,000 u/s 80CCD(1), 80CCD(2) & 80CCD(1B)
100,000 -100,000
581,913 Tax Rebate u/s 87A has been increased to Rs
0 12,500 from Rs 2,500 in Budget for people with
28,883 income less than Rs 5 Lakhs
Click for more details
ely) (Budget 2017) 0
1,155
30,038
0
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30,038
2%

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s and family. The usage is restricted to

ducational purpose only. You are

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