tax clculator

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

www.ApnaPlan.com
Name XXXXXXXXX
PAN Number AXXXXXXXX

Birth date 1-Oct-84

Age 35
Gross Annual Income/Salary (with all allowances) 1,250,000
Less: Allowances exempt u/s 10(for Service Period)
(I) H.R.A. exemption 150,000
City of Residence Metro
Basic Salary (Basic+DA) 300,000 150,000
Rent Paid 300,000 270,000
H.R.A received 150,000 150,000
(II) Standard Deduction for Salaried & Pensioner (Rs 50,000) Budget 2019 50,000 50,000
(iii) Any Other Exempted Receipts/ allowances 0 0
(iv) Professional Tax 0 0
Income under the head salaries
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 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 -135,836
Additional tax exemption for First Time Home Buyers (Budget 2016) 0 0
Interest paid on Home Improvement Loan (max 30,000) 0 0
Gross Total Income
Less: Deduction under Sec 80C (Max Rs.1,50,000/-) 150,000
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
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 0

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B. 80 D Medical Insurance premiums (for Parents) 22,251 22,251

C. 80 E Int Paid on Education Loan 0 0
D. 80 DD Medical Treatment of handicapped Dependent 0 0
E. 80DDB Expenditure on Selected Medical Treatment for self/ dependent 0 0
F. 80G, 80GGA, 80GGC Donation to approved funds 0 0
G. 80GG For Rent in case of NO HRA Component (Budget 2016) 0 0
H. 80U For Physically Disable Assesse 0 0
I. 80TTA (Rs 50,000 for Senior Citizens & Rs 10,000 for others) (Budget 2018) 10,000 10,000
Less: Deduction under Sec 80CCD(2) NPS (Employer Contribution) 100,000 100,000
Less: Deduction under Sec 80EEA (Interest on Home Loan for Affordable Home) (Budget 2019) 150,000 150,000
Less: Deduction under Sec 80EEA (Interest on Auto Loan for Electronic Vehicle) (Budget 2019) 160,000 160,000
Total Income
Tax Rebate of Rs. 12,500 (For Income of less than 5 lakhs) (Budget 2019)
Total Tax Payable
Tax Surcharge @ 10%/15%/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

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 restricted to 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 are encouraged to
consult your Tax Advisor before taking any decesion based on this calculator.

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For any Queries write to -

apnaplan.com@gmail.com

XXXXXXXXX
AXXXXXXXX

Fill up only the Orange Cells

31-Mar-20

1,250,000
-200,000
For Income Tax purpose - only Delhi, Mumbai,
Chennai & Kolkatta are considered as metro
cities. Noida, Gurgaon etc are Non-metro
cities.

You can take Tax Benefit on both HRA & Home

Loan.
In case of any queries Click here.

1,050,000
0

The maximum exemption on Home Loan

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

914,164
-150,000

Click here to
Choose the best investment under 80C.

Click here to choose the Best Tax Saving Fixed

Deposit rates from banks

Click here to choose the Best Tax Saving

Mutual Funds (ELSS)

Click Here to know about

Sukanya Samriddhi Account

-50,000 Read more about Tax benefit on NPS

-32,251
Click Here in case of any doubt on Education
Loan Tax Exemption
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Click Here in case of any doubt on Education
Loan Tax Exemption

Click Here to know about NPS Tax exemption

u/s 80CCD(1), 80CCD(2) & 80CCD(1B)

80EEA – New Tax Exemption on Home Loan for

Purchase of Affordable House

-100,000
-150,000 80EEB – New Tax Exemption on Auto Loan for
Purchase of Electric Vehicles
-150,000
281,913 Tax Rebate u/s 87A has been increased to Rs
-12,500 12,500 from Rs 2,500 in Budget for people with
0 income less than Rs 5 Lakhs
Click for more details
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e is restricted to non

. You are encouraged to

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e more taxes?
mple presentation on Tax Saving!

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