tax clculator

Income Tax Calculator for FY 2010-11

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Birth date
Age 14-Dec-82 28 M 540,000 -9,600

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

Sex 540,000

0
M

540,000 ### 0 -54,000 0 0 9,600 9,600 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

530,400 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)

0 530,400

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)

### -100,000 0 50,000 50,000 0 0 0 0 0 0

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tax clculator j. 80 ccc Pension Plan

0 0 0 0 0 0
0

Less: Deduction under chapter VI A

b. 80 D Medical Insurance premiums (for Self ) 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 0

Less: Deducation of for Infrastructure Bond (20k Max) Total Income

Total Tax Payable Add; Edn Cess @ 3%

430,400 27,040 811

Net Tax Payable

Tax to Total Income Ratio

27,851
5%

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Income Tax for Men Tax Slabs Incremental Taxable Inc Tax Bracket ### 0 - 160000 ### ### 160001 - 300000 ### ### ### 300001 - 500000 ### ### ### 500001 + ### ### ### Total Tax Income Tax for women Tax Slabs Incremental Taxable Inc Tax Bracket ### 0 - 190000 ### ### 190001 - 300000 ### ### ### 300001 - 500000 ### ### ### 500001 + ### ### ### Total Tax Income Tax for Senior Citizen Tax Slabs Incremental Taxable Inc Tax Bracket ### 0 - 240000 ### ### 240001 - 300000 ### ### ### 300001 - 500000 ### ### ### 500001 + ### ### ### Total Tax

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