Mock Test Instructions:-

Question 1 and Question 2 ar

1. Make suitable assumptions
Program: BBA / B. Com Hons/ Bsc Fin 2. Marks to the right indicate
Batch: 2019 - 2022 Academic Year: 2021 – 2022 3. Add sheets if required

Subject: Financial Modeling Marks: 50

Question
No.
1
2
3
4
Total
Instructions:-
Question 1 and Question 2 are compulsory
1. Make suitable assumptions wherever necessary
2. Marks to the right indicate full marks
3. Add sheets if required

Solution Marks
No. Marks Awarded
1 30
2 10
3 5
4 5
50 0
Following is the Income Statement and Balance Sheet of Akatsuki
a.Forecast the Income Statement and Balance Sheet and Cash Flow Statement for the next 3 years
b.Prepare the following Schedules
Revenue
Cost of Goods Sold
Plant Property and Equipment
Long Term Debt
c.Assuming 2022,2023,2024 as high growth period and a stable growth rate period commencing from 2030 and transition pha
Assume WACC=20 % and stable growth rate to be 5%
d.Prepare a Data Table to show the impact on EV for WACC ranging from 5%-20%
2019 2020 2021
------------------- in Rs. Cr. -------------------
Revenue From Operations 18,750 19,636 23,571
Other Operating Revenues 185 277 1,556
Total Operating Revenues 18,935 19,913 25,127
Other Income 179 146 181
Total Revenue 19,113 20,059 25,308
EXPENSES
Cost Of Goods Sold 16,313 16,327 19,010
Salary & Wages 563 661 759
Depreciation And Amortisation Expenses 139 310 331
Other Expenses 1,202 1,562 2,221
Total Expenses 18,216 18,860 22,321
EBIT 897 1,199 2,987
Interest on Long Term Debt 44 149 181
EBT 852 1,050 2,806
Less:Tax 597 686 308
PAT 255 364 2,498

2019 2020 2021

------------------- in Rs. Cr. -------------------
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 89 89 89
Reserves and Surplus 6093 6736 7464
Total Shareholders Funds 6182 6825 7553

NON-CURRENT LIABILITIES
Other Non Current Liabilities 0 967 971
Long Term Debt 119 152 143
Total Non-Current Liabilities 119 1119 1114
CURRENT LIABILITIES
Short Term Borrowings 2288 2133 4094
Trade Payables 772 510 695
Other Current Liabilities 2051 2492 2381
Provision for Tax 58 109 23
Total Current Liabilities 5169 5244 7193
Total Capital And Liabilities 11470 13188 15860
ASSETS
NON-CURRENT ASSETS
Plant,Property & Equipment,Net 1007 1965 1880
Goodwill 38 65 55
Other Assets 50 38 49
Total Non Current Assets 1095 2067 1984

CURRENT ASSETS
Accrued Income 1603 1714 4231
Inventories 6719 7741 7984
Trade Receivables 358 214 291
Cash And Cash Equivalents 1001 356 512
OtherCurrentAssets 694 1095 858
Total Current Assets 10375 11121 13876
Total Assets 11470 13188 15860

Units Sold(

L
M

Selling

L
M

Raw Material Co

P
Q
R
S

Raw Material Co

P
Q
R
S
ncing from 2030 and transition phase in between,compute the FCFF for for forecasted period and the Enterprise Value as on year ending 2

Based on Assumptions Sheet GIVEN BELOW

To be calculated on the basis of latest % of Revenue from Operations

Forecated on an Aggressive Note as a % of Total operating Revenues

Based on Assumptions Sheet GIVEN BELOW

Forecasted as maximum of historical % of Total revenue
Forecasted on the basis of latest % of Average Net PPE
7.5% of Total Revenue.However it cannot exceed Rs 2,600 crores

For existing debt-Hold level constant.New Debt's interest to be added.

Forecasted on the basis of average of Historical % of PBT

Remains Constant

Will increase by 1 % each year

Will raise a debt of Rs 65 crores( at an interest rate of 9.5%) at the commencement of forecasting period to be repaid in 5 equ

To be calculated as average of % of Revenue from operations.However it cannot exceed Rs 4500 crore

Average of Historical Payment period to be maintained
Constant at 2021 level.
Current Year Tax to be added in Provisions
Capex of Rs 50 crores planned in each of the forecasted years
Hold level constant at 2021 level
To be calculated as latest % of Total Non Current Assets

forecasted as an average of % of Total Revenue

Historical Average to be maintained.
Calculate on the basis of latest % of Revenue from Operations

Will increase by 1% every year

Assumption Sheet

Units Sold(in crores) Units Sold(in crores)

2019 2020 2021 2022
(units)in crores 625 688 744 L Y-o-Y increase % 2%
(units)in crores 1375 1225 1325 M Y-o-Y increase % 5%

Selling Price Selling Price

2019 2020 2021 2022
(Rs/unit) 8.75 9.75 10.25 L Y-o-Y increase % 12%
Rs/Unit 13.25 14.75 16.25 M Y-o-Y increase % 9%

Raw Material Cost for Product A Raw Material Cost for Product A
2019 2020 2021 2022
Rs/Unit 1.65 1.85 1.95 P Y-o-Y increase % 1.50%
Rs/Unit 1.8 2.02 2.13 Q Y-o-Y increase % 1%
Rs/Unit 2.025 2.275 2.4 R Y-o-Y increase % 2%
Rs/Unit 0.75 0.83 0.87 S Y-o-Y increase % 2%

Raw Material Cost for Product B Raw Material Cost for Product B
2019 2020 2021 2022
Rs/Unit 3.4 3.85 4.3 P Y-o-Y increase % 1.50%
Rs/Unit 2.44 2.77 3.1 Q Y-o-Y increase % 1%
Rs/Unit 0.64 0.64 0.64 R Y-o-Y increase % 2%
Rs/Unit 3.52 3.52 3.52 S Y-o-Y increase % 2%
Value as on year ending 2021

riod to be repaid in 5 equal annual instalments commencing from the end of 2022.
d(in crores)
2023 2024
2.50% 2.75%
4% 4.50%

g Price
2023 2024
13% 14%
8% 6.50%

ost for Product A

2023 2024
2% 2.25%
1.25% 1.75%
2% 2%
1.50% 1%

ost for Product B

2023 2024
2% 2.25%
1.25% 1.75%
2% 2%
1.50% 1%
revenue build up
l 625 688 744 758.88 777.852 799.2429
yoy 2% 3% 3%
m 1375 1225 1325 1391.25 1446.9 1512.011
yoy 5% 4% 5%

selling price
l 8.75 9.75 10.25 11.48 12.9724 14.78854
yoy 12% 13% 14%
m 13.25 14.75 16.25 17.7125 19.1295 20.37292
yoy 9% 8% 7%

l revenue 5468.75 6708 7626 8711.942 10090.61 11819.63

m revenue 18218.75 18068.75 21531.25 24642.52 27678.47 30804.07

total revenue 23687.5 24776.75 29157.25 33354.46 37769.08 42623.7

cost build up

product a
p 1.65 1.85 1.95 1.97925 2.018835 2.064259
1.50% 2.00% 2.25%
q 1.8 2.02 2.13 2.1513 2.178191 2.21631
1% 1% 2%
r 2.025 2.275 2.4 2.448 2.49696 2.546899
2% 2% 2%
s 0.75 0.83 0.87 0.8874 0.900711 0.909718
2% 2% 1%
product b

p 3.4 3.85 4.3 4.3645 4.45179 4.551955

1.50% 2.00% 2.25%
q 2.44 2.77 3.1 3.131 3.170138 3.225615
1% 1% 2%
r 0.64 0.64 0.64 0.6528 0.665856 0.679173
2% 2% 2%
s 3.52 3.52 3.52 3.5904 3.644256 3.680699
2% 2% 1%
total cost a 6.225 6.975 7.35 7.46595 7.594697 7.737186
total 3890.625 4798.8 5468.4 5665.76 5907.55 6183.891
total b 10 10.78 11.56 11.7387 11.93204 12.13744
13750 13205.5 15317 16331.47 17264.47 18351.94
total cost a 17640.63 18004.3 20785.4 21997.23 23172.02 24535.83
 2019 2020 2021 2022 2023 2024
------------------- in Rs. Cr. -------------------
Revenue From Operations 18,750 19,636 23,571 23687.5 24776.75 29157.25
Other Operating Revenues 185 277 1,556 1563.691 1635.596 1924.767
% of revenue 1% 1% 7%
Total Operating Revenues 18,935 19,913 25,127 25,251 26,412 31,082
Other Income 179 146 181 238.0473 248.9937 293.0155
% of total operating revenue 0.94% 0.74% 0.72%
Total Revenue 19,113 20,059 25,308 25,489 26,661 31,375
EXPENSES
Cost Of Goods Sold 16,313 16,327 19,010 21997.23 23172.02 24535.83
Salary & Wages 563 661 759
Depreciation And Amortisation Expenses 139 310 331
Other Expenses 1,202 1,562 2,221
Total Expenses 18,216 18,860 22,321
EBIT 897 1,199 2,987
Interest on Long Term Debt 44 149 181 0
EBT 852 1,050 2,806
Less:Tax 597 686 308
PAT 255 364 2,498

2019 2020 2021

------------------- in Rs. Cr. -------------------
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 89 89 89
Reserves and Surplus 6093 6736 7464
Total Shareholders Funds 6182 6825 7553

NON-CURRENT LIABILITIES
Other Non Current Liabilities 0 967 971
Long Term Debt 119 152 143
Total Non-Current Liabilities 119 1119 1114
CURRENT LIABILITIES
Short Term Borrowings 2288 2133 4094
Trade Payables 772 510 695
Other Current Liabilities 2051 2492 2381
Provision for Tax 58 109 23
Total Current Liabilities 5169 5244 7193
Total Capital And Liabilities 11470 13188 15860
ASSETS
NON-CURRENT ASSETS
Plant,Property & Equipment,Net 1007 1965 1880
Goodwill 38 65 55
Other Assets 50 38 49
Total Non Current Assets 1095 2067 1984

CURRENT ASSETS
Accrued Income 1603 1714 4231
Inventories 6719 7741 7984
Trade Receivables 358 214 291
Cash And Cash Equivalents 1001 356 512
OtherCurrentAssets 694 1095 858
Total Current Assets 10375 11121 13876
Total Assets 11470 13188 15860
 2025

33354.46
2201.839

35,556
335.1953

35,891

0
1. Revenue build up
2019 2020 2021 2022 2023 2024
Revenue From Operation' 23687.5 24776.75 29157.25 33354.458 37769.08 42623.7
Units sold A 625 688 744 758.88 777.852 799.2429
Increase y-o-y 2% 2.50% 2.75%
Units sold B 1375 1225 1325 1391.25 1446.9 1512.011
Increase y-o-y 5.00% 4.00% 4.50%

Price per unit A 8.75 9.75 10.25 11.48 12.9724 14.78854

Increase y-o-y 12% 13% 14%
Price per unit B 13.25 14.75 16.25 17.7125 19.1295 20.37292
Increase y-o-y 9% 8% 7%

Total sales
A 5468.75 6708 7626 8711.9424 10090.61 11819.63
B 18218.75 18068.75 21531.25 24642.5156 27678.47 30804.07

2. Cost build Up
2019 2020 2021 2022 2023 2024
Product A
P 1.65 1.85 1.95 1.97925 2.018835 2.064259
Increase y-o-y 1.50% 2.00% 2.25%
Q 1.8 2.02 2.13 2.1513 2.178191 2.21631
Increase y-o-y 1% 1% 2%
R 2.025 2.275 2.4 2.448 2.49696 2.546899
Increase y-o-y 2% 2% 2%
S 0.75 0.83 0.87 0.8874 0.900711 0.909718
Increase y-o-y 2% 2% 1%

Cost for product A per unit 6.225 6.975 7.35 7.46595 7.594697 7.737186
Total cost for product A 3890.625 4798.8 5468.4 5665.76014 5907.55 6183.891

Product B
P 3.4 3.85 4.3 4.3645 4.45179 4.551955
Increase y-o-y 1.50% 2.00% 2.25%
Q 2.44 2.77 3.1 3.131 3.170138 3.225615
Increase y-o-y 1% 1% 2%
R 0.64 0.64 0.64 0.6528 0.665856 0.679173
Increase y-o-y 2% 2% 2%
S 3.52 3.52 3.52 3.5904 3.644256 3.680699
Increase y-o-y 2% 2% 1%

Cost for product B per unit 10 10.78 11.56 11.7387 11.93204 12.13744
Total cost for product B 13750 13205.5 15317 16331.4664 17264.47 18351.94

3. Asset Schedule
Opening 1007 1965 1880 1628 1416
Add: Capex 50 50 50
Less: Disposal
Less: Depreciation 139 310 331 301.995728 262.0474 228.4319
20.84% 17.22% 17.22% 17.22% 17.22%
Closing 1007 1965 1880 1628 1416 1238

4. Debt schedule

Opening 119 152 143 197 186

Add: New debt 65
Less: Repayment 9 $10.75 $10.75 $10.75

Closing 119 152 143 197 186 176

Interest 44 149 181 186.664215 185.1319 184.1103 9.50%

Opening 54.24663 43.49327

New debt 65
Repaymeny $10.75 $10.75 $10.75
Closing 54.2466329 43.49327 32.7399

5. Balance Sheet Assumptions

Trade payables 772 510 695 780.4643 822.1461 870.5343

Days 14.33296 11.56753 12.9502449 12.95024 12.95024
$10.75
₹ 10.75
Income Statement
2019 2020 2021 2022 2023
Revenue From Operations 18,750 19,636 23,571 33354.46 37769.08
Other Operating Revenues 185 277 1,556 2201.839 2493.262
% of total revenue from operations 0.98% 1.41% 6.60% 6.60% 6.60%
Total Operating Revenues 18,935 19,913 25,127 35556.3 40262.34
Other Income 179 146 181 314.4382 356.0556
% of total revenue from operations 0.94% 0.74% 0.72% 0.94% 0.94%
Total Revenue 19,113 20,059 25,308 35870.73 40618.4
EXPENSES
Cost Of Goods Sold 16,313 16,327 19,010 21997.23 23172.02
Salary & Wages 563 661 759 1182.024 1338.47
% of total revenue from operations 2.95% 3.30% 3.00% 3.30% 3.30%
Depreciation And Amortisation Expenses 139 310 331 301.9957 262.0474
Other Expenses 1,202 1,562 2,221 2600 2600
7.50% 7.50%
Total Expenses 18,216 18,860 22,321 26081.25 27372.54
EBIT 897 1,199 2,987 9789.489 13245.86
Interest on Long Term Debt 44 149 181 186.6642 185.1319
EBT 852 1,050 2,806 9602.825 13060.73
Less:Tax 597 686 308 4684.971 6371.994
% of pbt 70% 65% 11% 49% 49%
PAT 255 364 2,498 4917.854 6688.737

Balance Sheet
2019 2020 2021 2022 2023
EQUITIES AND LIABILITIES
SHAREHOLDER'S FUNDS
Equity Share Capital 89 89 89 89 89
Reserves and Surplus 6093 6736 7464 12382 19071
Total Shareholders Funds 6182 6825 7553 12471 19160

NON-CURRENT LIABILITIES
Other Non Current Liabilities 0 967 971 980.71 990.5171
Growth 1% 1%
Long Term Debt 119 152 143 197 186
Total Non-Current Liabilities 119 1119 1114 1178 1177
CURRENT LIABILITIES
Short Term Borrowings 2288 2133 4094 4495.44 4500
% of revenue from operations 12.20% 10.86% 17.37% 13.48% 13.48%
Trade Payables 772 510 695 780.4643 822.1461
Other Current Liabilities 2051 2492 2381 2381 2381
Provision for Tax 58 109 23 4708 11080
Total Current Liabilities 5169 5244 7193 12365 18783
Total Capital And Liabilities 11470 13188 15860 26014 39120
ASSETS
NON-CURRENT ASSETS
Plant,Property & Equipment,Net 1007 1965 1880 1628 1416
Goodwill 38 65 55 55 55
Other Assets 50 38 49 42.61871 37.24904
% of total non current assets 4.57% 1.84% 2.47% 2.47% 2.47%
Total Non Current Assets 1095 2067 1984 1726 1508

CURRENT ASSETS
Accrued Income 1603 1714 4231 4023.64 4556.188
% of total revenue 8.39% 8.55% 16.72% 11.22% 11.22%
Inventories 6719 7741 7984 7481 7481
Trade Receivables 358 214 291 411.7834 466.2849
% of revenue from operations 1.91% 1.09% 1.23% 1.23% 1.23%
Cash And Cash Equivalents 1001 356 512 10944 23203
OtherCurrentAssets 694 1095 858 866.58 875.2458
Total Current Assets 10375 11121 13876 23727.71 36582.35
Total Assets 11470 13188 15860 25453 38091
560 1029
Cash Flow Statement 2019 2020 2021 2022 2023

Cash flow from operating activities

Profit before tax 9602.825 13060.73
Add: Depreciation 301.9957 262.0474
Less: Interest expense -186.6642 -185.1319

Changes in WC 495 -637

Less: Income tax paid
Cash flow used/from operating activities 10213 12500

Cash flow from investing activites

Purchase of ppe -50 -50

Cash flow used/from investing activities -50 -50

Cash flow from financing activities

Proceeds from loan 65 0
Repayment of debt -10.75337 -10.75337
Interest expense -186.6642 -185.1319
short term borrowings 401 5
Cash flow from financing 269 -191
Other non current liabilities 10 10
Total cash generated 10432 12259

Opening cash 512 10944

Closing cash 10944 23203

cash flow from operating activities

net profit before tax 9602.825 13060.73
add depriciation 301.9957 262.0474
less intrest expense 186.6642 185.1319
changes in working capital 94
less income tax
cash flow use from operating activitis
cash flow from financing activity
puchase of ppe
cash flow use from financing activity
procced from loan repayment
intrest expense
short term borrowing
other non current liability
cash flow from financing
total cash generated

opening cash
closing cash
 2024
42623.7
2813.732
6.60%
45437.43
401.8209
0.94%
45839.25

24535.83
1510.509 423 156 172
3.30%
228.4319
2600
7.50% 7.50%
28874.77
16964.48
184.1103
16780.37
8186.71
49%
8593.659

2024

89 0
27664
27753

1000.422
1%
176 54
1176 64
0
4500 401
13.48% 0
870.5343 85
2381 0
19267 4685
27018 5172
55948 10154
0
0
 1238 -252
55 0
32.73061 -6
2.47% 0
1325 -258
0
0
5141.814 -207
11.22% 0
7481 -503
526.2185 121
1.23% 0
39080 10432
883.9983 1% 9
53113.79 9852
54439 9593
1509 469 479
2024

16780.37
228.4319
-184.1103

-703

16122

-50

-50

0
-10.75337
-184.1103
0
-195
10
15877

23203
39080

16780.37
228.4319
184.1103
Financial Modeling

Case: Hospital Services

Dr. Sushrut has been practising as a GP since the last 25 years and intends to build a 100 bed hospital in Mumbai. He intends to onb
has collated the data points, enlisted below. As a financial consultant to Dr. Sushrut kindly draw down a detailed financial model and
onboarding debt.

Revenue Build Up:

Particulars Remarks

No. of Hospital Beds

Occupancy Rate
Average Rate / Bed / Night Yo-Y Growth - 10%
Medical Bills - As a % of Revenue from Occupancy

Cost Assumptions:
Particulars Remarks
Employee Cost As a % of Total Revenue
Consumables As a % of Total Revenue
General & Administrative Expenses As a % of Total Revenue
Selling & Distribution Expenses As a % of Total Revenue
Legal & Professional Expenses As a % of Total Revenue

BS Assumptions:
Fixed Assets - ₹ Crores
Additions
Depreciation Rate

Tax - %
Corporate Tax Rate

Fund Infusion - ₹ Crores

Equity Infusion

Working Capital Remarks

Accounts Receivable No. of Days/Total Revenue
Inventory No. of Days/Consumables
Other Current Assets No. of Days/Total Revenue

Accounts Payable No. of Days/Total Operating Expenses

Other Current Liabilities No. of Days/Total Operating Expenses
ospital in Mumbai. He intends to onboard an equity partner and consequently requires a detailed financial model/plan wrt the hospital. From his exper
w down a detailed financial model and consult him for the estimated equity requirement for the business, assuming that the proposed entity wouldn't b

FY2023P FY2024P FY2025P FY2026P

100 100 100 100

30% 40% 50% 60%
6,000
25% 25% 25% 25%

FY2023P FY2024P FY2025P FY2026P

50% 45% 43% 40%
7.5% 7.5% 7.5% 7.5%
20% 18% 16% 15%
15% 12% 10% 8%
10% 5% 5% 5%

March 31, 2023 March 31, 2024 March 31, 2025 March 31, 2026
15 5 2 1
10% 10% 10% 10%

FY2023P FY2024P FY2025P FY2026P

25% 25% 25% 25%

March 31, 2023 March 31, 2024 March 31, 2025 March 31, 2026

March 31, 2023 March 31, 2024 March 31, 2025 March 31, 2026
7 7 7 7
21 21 21 21
45 45 45 45

30 30 30 30
5 5 5 5
 e hospital. From his experience, he
proposed entity wouldn't be
Revenue Build Up
FY2023P FY2024P FY2025P FY2026P
Revenue from occupancy 180000 264000 363000 479160
No. of hospital beds 100 100 100 100
Occupancy rate 30% 40% 50% 60%
Average rate 6000 6600 7260 7986 10%

Medical bills 45000 66000 90750 119790

25% 25% 25% 25%

Total revenue 225000 330000 453750 598950

Cost Build Up
FY2023P FY2024P FY2025P FY2026P
Use Pure-play method and Calculate WACC based on DATA below

T-Bill rates
Year Year Open Year High Year Low Year Close Date
2016 0.61% 0.91% 0.81% 0.81% 1-Jan-16
2017 0.81% 1.76% 0.73% 0.73% 31-Dec-16
2018 1.83% 2.74% 0.63% 0.63% 31-Dec-17
31-Dec-18

Comparable Company 1
Date Close/Last Volume Open High Low D/E ratio
1-Jan-16 $91.06 1,895,511 $91.29 $91.42 $89.91 0.5216
31-Dec-16 $122.46 830,406 $122.98 $122.98 $121.85 0.6345
31-Dec-17 $166.85 724,256 $167.46 $167.56 $166.65 0.6987
31-Dec-18 $124.72 1,024,414 $125.79 $150.88 $124.20 0.7356

Comparable Company 2
Date Close/Last Volume Open High Low D/E ratio
1-Jan-16 $85.22 2,252,815 $86.91 $87.09 $85.19 0.9823
31-Dec-16 $132.98 2,796,941 $131.92 $134.82 $131.22 1.0342
31-Dec-17 $146.79 992,781 $146.74 $147.19 $145.64 1.1783
31-Dec-18 $174.45 816,931 $174.43 $175.70 $124.20 1.0743

Comparable Company 3
Date Close/Last Volume Open High Low D/E ratio
1-Jan-16 $99.12 1,705,866 $98.14 $99.25 $98.09 0.0231
31-Dec-16 $127.03 1,873,430 $128.38 $128.58 $126.13 0.1436
31-Dec-17 $142.85 653,890 $142.22 $143.84 $142.07 0.1041
31-Dec-18 $151.50 681,010 $150.26 $151.68 $149.53 0.1829
 Index Data
Open High Low Close Volume
10020 10020 9891.07 10001.56 4,304,880,000
11094.81 11104.09 11034 12056.9 2,670,900,000 Date
12878.35 12886.11 12808.82 14808.84 2,443,490,000 1-Jan-18
11343.86 11416.52 11252.23 16306.45 3,702,620,000 1-Jan-19
1-Jan-20
1-Jan-21
1-Jan-22
 TOEI Animation Your Company
D/E ratio Wt OF Debt Wt of Equity Tax
1.8 30%
2 30%
1.5 30%
1.2 30%
1.4 30%
 Create a Tax Model for your client and calculate their respective tax liability with the follo

Client Details:- Slab details

Name - Harshad Gandhi Slab applicable (Age less than 60 is Normal, 60-80
Age - 28 years
PAN – ACCPR1000F Income Tax Slabs & Rates for Individual Tax Payers
State - Gujrat Lower limit Upper limit
Status - Resident ₹0 ₹ 250,000
Income from Salary Rs. 12,50,000 ₹ 250,001 ₹ 500,000
Income from House Property - Rs. 200,000 ₹ 500,001 ₹ 1,000,000
Income from other sources - Rs. 20,000 ₹ 1,000,001 above
Deductions - Rs. 145,000
TDS deducted - Rs. 70,000 Income tax slabs for resident individual between 6
Lower limit Upper limit
₹0 ₹ 300,000
Tax return format Taxation calculation details ₹ 300,001 ₹ 500,000
Income from Salary Tax payable ₹ 500,001 ₹ 1,000,000
Income from House Property Add- Surcharge ₹ 1,000,001 above
Income from Business & ProfessAdd- Cess
Capital Gain Less - TDS Income tax slabs for resident individual above
Income from other sources Net Tax payable/refund Lower limit Upper limit
Total Gross Income ₹0 ₹ 500,000
Deductions ₹ 500,001 ₹ 1,000,000
Taxable Income ₹ 1,000,001 above

Cess applicable for all is 4%

Surcharge of 10% applicable if Gross Taxable Incom
tive tax liability with the following fields

less than 60 is Normal, 60-80 is Senior and above 80 is Super Senior)

Rates for Individual Tax Payers & HUF (Less Than 60 Years Old)
Tax rates
0%
5%
20%
30%

resident individual between 60 and 80 years of age (Senior Citizen)

Tax rates
0%
5%
20%
30%

or resident individual above 80 years of age (Super Senior Citizen)

Tax rates
0%
20%
30%

plicable if Gross Taxable Income is more than INR 10,00,000

 Tax calculation Work

Personal details:- Normal

Name Harshad Gandhi Lower limit Upper limit
Age 28 ₹0 ₹ 250,000
PAN ACCPR1000F ₹ 250,001 ₹ 500,000
State Gujarat ₹ 500,001 ₹ 1,000,000
Category Normal ### above

Income Details Senior

Income from Salary Lower limit Upper limit
Income from House Property ₹0 ₹ 300,000
Income from Business & Profession ₹ 300,001 ₹ 500,000
Capital Gain ₹ 500,001 ₹ 1,000,000
Income from other sources ### above
Total Gross Income
Deductions Super Senior
Taxable Income Lower limit Upper limit
₹0 ₹ 500,000
₹ 500,001 ₹ 1,000,000
Taxation details ### above
Tax payable
Add- Surcharge Cess 4%
Add- Cess Surcharge 10%
Less - TDS
Net Tax payable/refund TDS ₹ 70,000.00
 Workings

Tax rates Lower bracket

Upper bracketCategory
0% 0 59 Normal
5% 60 80 Senior
20% 81 Super Senior
30%

Tax rates
0%
5%
20%
30%

Tax rates
0%
20%
30%