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Disability Percentage of the Handicapped Dependents
if less than 80% enter L80, if more than 80% enter M80 L80
C.4 Exp. likely to be incurred on specified disease or ailment (Cancer/AIDS etc.)
Exp incurred on senior citizen No
C.5
Permanent Disability benefit (self) - adhoc amount of (in case
of disability
Self Disability Percentage
if less than 80% enter L80, if more than 80% enter M80 M80
C.6Interest on Education Loan (for self education) from
Charitiable or Financial Institution. (No Limit)
Total Deduction u/s 80D to 80U
Investments under Sections 80C & 80CCC qualifying for deductions upto Rs.1 Lac or R
D.1
D.2
D.3
D.4
D.5D.6
D.7
D.8
D.9
D.10
D.11
D.12
D.13
D.14
D.15
D.16
Total Deduction u/s 80C and 80CCC
Total Deduction under Chapter VIA
ENTERTAINMENT ALLOWANCE (ONLY FOR GOVT EMPLOYEES)
PROFESSIONAL TAX
Net Total Taxable Income
Tax on Total IncomeAdd Surcharge
Add Education Cess
Total Tax Payable in respective of Financial Year 2011-2012
NOTES
*** It is mandatory to make changes in formula every year if you are not able to undeENTERTAINMENT ALLOWANCE (ONLY FOR GOVT EMPLOYEES) can also be used to
Deduction under Section 16 (ii) & 16 (iii)
MUTUAL FUNDS notified under SECTION 10(23D)
EQUITY LINK SAVING SCHEME(ELSS) Mutual Funds notified under SECTION
TERM DEPOSIT with a SCH.Bank in a notified Scheme for a term not less than 5
TUTION FEES PAID (Only full time education tution fees paid to any Indian Univ,
SENIOR CITIZENS SAVINGS SCHEME Rules, 2004
POST OFFICE TIME DEPOSIT Rules, 1981 for a term not less than 5 years
PUBLIC PROVIDENT FUND (PPF)LIFE INSURANCE PREMIUM PAID
UNIT LINKED INSURANCE PLANS
NSC-NATIONAL SAVING CERTIFICATE
DEPOSIT IN NATIONAL SAVING SCHEME (NSS)
INFRASTRUCTURE INVESTMENT in approved BONDS
Self Contribution in Provident Fund. Assessee's rate of PF contribution w.r.t Basic
Voluntary Contribution Provident Fund
INVESTMENT IN PENSION SCHEME
HOUSING LOAN PRINCIPAL REPAYMENT
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Percentage 10% 20% 30%
Male 180000 500000 800000
Female 190000 500000 800000
Sr.Citizen 250000 500000 800000
Maximim Limit Under Section Actual Amount Eligible Amount
Rs5,244 U/Sec 10(13A) Rs42,000 Rs5,244
Rs9,600 Rs0 Rs0
Rs15,000 Rs1,311 Rs1,311
Rs6,555
Rs19,665
Rs0 Rs0
Rs150,000 U/S 24(1)(Vi) Rs0 Rs0
Rs0 Rs0
Rs19,665
Under Section Actual Amount Maximim Limit Eligible Amount
U/Sec 80D(2A) Rs0 Rs15,000 Rs0
U/Sec 80D(2B) Rs0 Rs15,000 Rs0
ce of handicapped Dependents
tion at source for the financial year.
IF you don’t want to edit the formula just fill in the yellow shaded boxes
Every year change the slabs do minor corrections in formula and you have the IT calc
year
WORKING FOR CALCULATION OF TAX (change slabs here)
Sheet is unprotected for your research and further development, for further enquiri
TOR FOR FINANCIAL YEAR 2011-12
been made to cover most of the scenarios of Income, Exemptions, Deductions, etc. However, you are advis
or tax consultant to know your actual Tax Liability.
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U/Sec 80DD Rs0 Rs50,000 Rs0
U/Sec 80DDB Rs0 Rs40,000 Rs0
U/Sec 80 U Rs0 Rs75,000 Rs0
U/Sec 80E Rs0 No Limit Rs0
Rs0
s.1.2 Lac
U/Sec 80C Rs1,259 12% Rs1,259
U/Sec 80C Rs0 Rs0
U/Sec 80 CCC Rs0 Rs10,000 Rs0
U/Sec 80C Rs0 Rs0
U/Sec 80C Rs0 Rs70,000 Rs0U/Sec 80C Rs33,000 Rs33,000
U/Sec 80C Rs0 Rs0
U/Sec 80C Rs0 Rs0
U/Sec 80C Rs0 Rs0
U/Sec 80CCF Rs0 Rs20,000 Rs0
U/Sec 80C Rs0 Rs0
U/Sec 80C Rs0 Rs0
U/Sec 80C Rs0 Rs0
U/Sec 80C Rs6,000 Rs6,000
U/Sec 80C Rs0 Rs0
U/Sec 80C Rs0 Rs0
Rs40,259 Rs40,259
Rs40,259
U/Sec 16(ii) Rs0 5000 Rs0
U/Sec 16(iii) Rs182 Rs182
Rs0
Rs0 ***
Rs0
Rs0
Rs0
stand the formula, get it changed from someone who knows, else it wont show the corralculate LTA exemption the same field can be used if you are a non govt employee, Cha
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lator for that
es contact
d to consult any
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ct tax liabilitynge section and limits
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In this sheet you can use to simulate the entire year salary modify as per need .
104400 306590 193864 TRANS
INCOME
Band Pay Grade Pay DA HRA Trans
March 49420 8700 15692 11624 1600
April* 49420 8700 34676 11624 1600
May 49420 8700 20342 11624 1600
June** 49420 8700 20342 15304 2615
July 51170 8700 20955 17961 3200
August 51170 8700 20955 17961 3200
September 51170 8700 38918 17961 3200
October 51170 8700 26942 17961 3200
November 51170 8700 26942 17961 3200
December 51170 8700 26942 17961 3200
January 51170 8700 26942 17961 3200
February 51170 8700 26942 17961 3200
TOTAL 607040 104400 306590 193864 33015
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47001 PF 122114
DEDUCTIONS
Trans DA Gross Group Ins EPF Income Tax P.Tax
432 87468 120 8857 15000 200
560 106580 120 11089 15000 200
560 92246 306 9415 15000 200
914 97295 213 9415 15000 200
1440 103426 213 9699 15000
1440 103426 213 9699 12500
1440 121389 213 11855 20000
1440 109413 213 10417 15300
1440 109413 213 10417 15300
1440 109413 213 10417 15300
1440 109413 213 10417 15300
1440 109413 213 10417 29048 2190
13986 1258895 2463 122114 197748 2990
total tax 0
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49421
168993
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