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Tax Calculator - Excel

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Tax Calculator - Excel Powered By Docstoc
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Income from salaries
Basic Salary HRA Conveyance Allowance Special Allowances LTA Medical Profession Tax

Income from house property
Less: Deduction U/s 24 (interest on loan)

-

Income form other sources
Bank Interest Interest on NSC Others Others GROSS TOTAL INCOME Less: Deduction Under Chapter VIA Public Provident Fund Contribution to Provident Fund LIC premium NSC 80C (Others) 80D (Medicalim insurance ) Others Others Rent paid Tax deducted at source

To see your Tax Liability Click here To see your HRA Computation Click here Please revert with your valuable suggestion

Yearly
79,200.00 47,040.00 9,600.00 46,200.00 9,600.00 6,360.00 7,920.00 40,080.00

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9,600.00 48,000.00 -

Tax liability

tax liability for the assessment year 2007-08
Income from salaries
Basic Salary HRA Conveyance Allowance Special Allowances LTA Medical Gross Salary Less: Deduction U/s 10 HRA Conveyance Allowance 79,200.00 47,040.00 9,600.00 46,200.00 9,600.00 6,360.00 198,000.00 31,680.00 9,600.00

Less: Deduction U/s 16 Profession Tax Income from salary

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Income from house property
Less: Deduction U/s 24 (interest on loan) Income from house property

-

Income form other sources
Bank Interest Interest on NSC Others Others Income from other sources -

GROSS TOTAL INCOME
Less: Deduction Under Chapter VIA 80C ( PPF .) 80C ( PF) 80C (LIC premium) 80C (NSC) 80C (Others) 80D (Medicalim insurance ) Others Others 9,600.00 -

TAXABLE INCOME
On first Rs.150000 On next Rs. 100000 150,000.00 300,000.00 -

On Balance TAX EDUCATION CESS

500,000.00

-

TAX LIABILITY Less: Tax Deducted at source NET TAX PAYABLE/ (REFUNDABLE)

Back To Data Sheet Click Here To See your HRA Computation Click Here

ear 2007-08

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156,720.00

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156,720.00

9,600.00

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147,120.00
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-

-

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Calculation of House Rent Allowance
Actual Rent Paid Section 10(13A) rule 2A A. Actual house rent allowance received B. Rent paid in excess of 10% of salary 48,000.00 C. An amount equal to:two fifth of salary whichever is lower Salary for the purpose means: Salary includes dearness allowance if terms of emplyoment so provide but excludes all other allowances and perquisites. Yearly 7,920.00 0.00

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48,000.00 40080.00 31,680.00 0.00 31,680.00

40080 -


				
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posted:6/25/2008
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Description: Tax calculator
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