Tools
Tax Planning
The tax planning calculator derives the amount of tax to be paid at the end of the
financial year after all the deductions have been met to the gross salary of an
individual. The tax payable differs from gender to gender and place to place.
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Assessment Year
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2016-17
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Name (*)
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Age (*)
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*
Age btw 20 to 99
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Assessee Type (*)
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Residing City (*)
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Items
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Actual
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Gross Salary /Income (*)
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Basic Salary (Basic + DA)(*)
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Exemptions under section 10 & 17
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Annual Rent Paid
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Actual HRA Received (From Employer)
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Conveyance Allowance
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Medical Reimbursement
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LTA Exemption
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Children's Education Allowance Exemption
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Vehicle Maintenance (petrol/maint. Bills) only if Conveyance Allowance not claimed
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Other exemptions (gratuity, VRS, etc.)
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Professional Tax
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House/property income or loss (enter loss as negative)
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Interest on housing loan (for tax exemption)
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Income/Loss on Equity Shares & Equity Linked Mutual Funds (STT Paid)
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Short Term Capital Gains, if holding period of shares is less than 1 year (Tax @15%
p.a.)
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Long Term Capital Gains, if holding period of shares is more than 1 year (NIL)
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Other Income
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Bank (Saving/FD/Rec)
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N.S.C. (Accrued/Recd)
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Post office M.I.S. (6 years)
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Post office Recurring Deposit (5 years)
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Term Deposit (1 to 5 years)
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Saving Bonds (6 years)
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Kisan Vikas Patra
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Any Other Income
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Deductions under Chapter VI (sec 80C) upto Rs.1,00,000/-
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NSC & NSS
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Public Provident Fund
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Employees Provident Fund & Voluntary PF
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Pension scheme (sec 80CCC)
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Children's Education (Upto RS 200/-)
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Housing loan principal repayment
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Insurance premium (After 1st April 12)
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Infrastructure Bonds & others (MF, ULIP, FD, etc.)
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FD for 5 years
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Post office saving in 10/15 years
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Tuition fees (Excluding donation, development fees upto Rs 24,000/-
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Deduction Under 80CCG (Rajiv Gandhi Equity Saving Scheme)
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Annual income is < Rs. 12 lakh can invest in this scheme up to Rs. 50,000 and get
a deduction of 50% of the investment
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Deductions under Chapter VI-A (sec 80D to 80U)
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Medical Insurance Premium for self & family (sec 80D)
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Medical Insurance Premium for parents (sec 80D)
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Medical for handicapped dependents (Sec 80DD)
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Medical for specified diseases (Sec 80DDB)
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Deduction for permanent disability (80U)
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Education Loan Interest Repayment (Sec 80E)
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Donation to approved fund and charities (sec 80G)
(Contribution to exempt charities – 25/50/75/100% depending
on the charity & 100% exemption on donation to political parties)
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Deductions under (Sec. 80TTA)
(Interest earned on balance in savings bank account subject
to a maximum of Rs. 10,000 per year.)
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Deduction under 80RRB section in respect of any Income by way of Royalty of a Patent
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Rent deduction (sec 80GG) only if HRA not received
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Any other deductions
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Interest on up to Rs 1.50 lac Housing Loans Section
(Excluding Rs. 1 lac p.a. u/s 80c Saving)
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