Income Tax Calculator FY 2018-19 (AY 2019-20)

Head Description

Gross Income Salary and Other Income

Exemptions u/s 10 A HRA , Convenyance etc
Professional Tax Professional Tax

Net Income under Salaries Gross Income - Exemptions

Standard Deduction Salaried Individual & Pensionar (Up to 40000 Rs.)

Deductions u/s 80 C Investments in PF, PPF, Ins, ELSS, NPS etc

Deductions u/s 80 CCD Investments in NPS (Maximum limit 50,000)

Deductions u/s 80 D Medical Insurance Premium (Self, Parents)

Deductions u/s 80 G Eligible Donations

Deductions u/s 80 E Interest Paid on Education Loan

Deductions u/s 80 TTA Interest Received on Savings Bank A/C

Tax Benefit u/s 24 Interest Paid On Home Loan

Total Deductions/Benefits

Taxable Income

Tax Slab Slab Income

Income Tax Payee Type Male, Female, Sr. Citizen>60, Very Sr. Citizen>80

250,000 250,000

500,000 250,000

1,000,000 500,000

10,00,000+ 237,500

Tax on Total Income

Surcharge 10% on Tax if Income > Rs 50 Lakh less than 1 Cr

 Surcharge 15% on Tax if Income > Rs 1 Crore

Tax with Surcharge

Health & Education Cess

Tax with Cess

Tax Credit Upto Rs. 5000 if Taxable Income < Rs. 5 lakhs

Tax Liability
AY 2019-20)
Amount in Rs.

1,550,000
-
2,500

1,547,500

40,000

150,000

50,000

15,000

10,000

45,000

310,000

1,237,500

Tax Rate Tax Amount

Male

0% -

5% 12,500

20% 100,000

30% 71,250

183,750

10% -
15% -

183,750

4% 7,350

191,100

191,100