Income Tax Calculator – Financial Year 2010-2011

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Income Tax Calculator – Financial Year 2010-2011 Powered By Docstoc
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Tax Calculator F.Y. 2010-11

Sex (for male - 1, for female - 0)             1
Place of Residence(For Metro cities-
0,For Non Metro cities-1)                      1
Age                                           25
Number of children                             0
            Salary Breakup               Investment & April             May           June          July        August     September   October    November December       January     February     March         Total
                                         Bills Details
Basic                                                                                                                                                                                                                -
HRA                                                                                                                                                                                                                  -
Transport Allowance                                                                                                                                                                                                  -
Child Education                                                                                                                                                                                                      -
Grade/Special Allowance                                                                                                                                                                                              -
Arrears                                                                                                                                                                                                              -
LTA                                                                                                                                                                                                                  -
Leave Encashment                                                                                                                                                                                                     -
Performance Incentive                                                                                                                                                                                                -
Medical Reimbursement                                                                                                                                                                                                -
Food Coupons\Periodical Journals                                                                                                                                                                                     -
Telephone Reimbursements                                                                                                                                                                                             -
Car Reimbursement                                                                                                                                                                                                    -
Internet Expense                                                                                                                                                                                                     -
Driver Salary                                                                                                                                                                                                        -
Gifts From Non-Relatives                                                                                                                                                                                             -
Gifts From Relatives                                                                                                                                                                                                 -
Rental Income                                                                                                                                                                                                        -
TOTAL INCOME                                                   -            -             -             -           -           -          -           -           -            -          -              -          -

Less : Exemptions
Actual Rent paid as per rent receipts                                                                                                                                                                                -
HRA Exemption                                                  -            -             -             -           -           -          -           -           -            -          -              -          -

Non-Taxable Allowances
Child Education Allowance                          -                                                                                                                                                                 -
Medical Reimbursement                              -                                                                                                                                                                 -
Transport Allowance                                -                                                                                                                                                                 -
LTA                                                                                                                                                                                                                  -
Food Coupons                                                                                                                                                                                                         -
Telephone Reimbursement                                                                                                                                                                                              -
Car Expenses Reimbursement                                                                                                                                                                                           -
Internet expense                                                                                                                                                                                                     -
Driver Salary                                                                                                                                                                                                        -
Other Reimbursement                                                                                                                                                                                                  -
Balance Salary                                                                                                                                                                                                       -
Professional Tax                                                                                                                                                                                                     -
Net Taxable Salary                                                                                                                                                                                                   -
House on loan and Self Occupied - 0,
House on loan but Rented out - 1               0
Home Loan Interest Component                                                                                                                                                                                         -
Any other Income                                   -                                                                                                                                                                 -
Gross Total Income                                                                                                                                                                                                   -

Deductions under chapter VIA
80C + 80CCC(Pension Fund):               Amt. Invested
LIC Premium
Employee's contribution to PF
PPF
ELSS
Others                                        -
Tution Fees paid                              -
Housing Loan Principal repayment              -
Fixed Deposit for 5 yrs. or more              -
Others                                        -
Total of Section 80C                          -
Pension Fund (80 CCC)
Total Deduction under Section 80C & 80CCC     -                                                                                                                                                                      -

80D (Medical insurance premium, Self/Family)                                                                                                                                                                         -
80D (Medical insurance premium, Parents)                                                                                                                                                                             -
80E (Interest on Loan for Higher Education)        -                                                                                                                                                                 -
80U (Handicapped person)                           -                                                                                                                                                                 -
80G (100 % deductions)                             -                                                                                                                                                                 -
80G (50 % deductions)                              -                                                                                                                                                                 -
Long Term Infra Bonds                              -                                                                                                                                                                 -

Total Income                                                                                                                                                                                                         -

Total Income rounded off                                                                                                                                                                                             -

Tax on Total Income                                                                                                                                                                                                  -

Surcharge                                                                                                                                                                                                            -
Tax Payable                                                                                                                                                                                                          -
Education Cess @ 3%                                                                                                                                                                                                  -
Balance                                                                                                                                                                                                              -
TDS                                                                                                                                                                                                                  -
Net Tax Payable                                                                                                                                                                                                      -

Monthly Deductions from salary                         April          May          June          July          August      September October      November    December    January     February    March
TDS                                                                                                                                                                                                                  -
Professional Tax                                                                                                                                                                                                     -
Employee's PF Contribution                                                                                                                                                                                           -
Others deductions (transport etc.)                                                                                                                                                                                   -
Employer's PF Contribution                                                                                                                                                                                           -

In Hand                                                        0.00         0.00          0.00          0.00        0.00        0.00       0.00        0.00        0.00        0.00        0.00           0.00




ADVANCE TAX SCHEDULE

Total Tax as per Consolidation Sheet:              -

              PARTICULARS                      %       PAYABLE         PAID        DIFFERENCE
Payable upto 15th June, 2010                    15%            -            -             -
Payable upto 15th September, 2010               30%            -            -             -
Payable upto 15th December, 2010                60%            -            -             -
Payable upto 15th March, 2011                  100%            -            -             -

				
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Description: The new slabs for Income Tax in India were proposed in the Union Budget 2010 by Finance Minister, Pranab Mukherjee. Given the new tax slabs that are expected to be in force from the FY 2010-11 or Assessment Year 2011-12 we have prepared an Income Tax Calculator for financial year 2010-11 for your convenience.