Income Tax Calculator

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CHARTERED ACCOUNTANT
16295 Points Joined January 2010

Income Tax & Taxable Income Calculator AY 2010-11 (FY 2009-10)

For Individual Male, Female & Senior Citizens and HUFs

Income Tax calculator to calculate your Taxable Income and your Income Tax Liability for Financial Year 2009-10. Use this Calculator to :

  • Calculate your Taxable Income by taking into account income from all sources viz. Salary and Allowances, House Property, Capital Gains, Income from other sources, Agriculture Income etc. You can also include income chargeable at Special Rate for computin the Taxable Income.
  • Calculate deductions available from the Taxable Income under various Sections of Income Tax Act
  • Calculate Income Tax and Education Cess Payable with slab-wise details of Income and Income Tax payable.
  • Calculate Income net of Income Tax Liability
  • Advance Tax Payable by 15th September, 15th December and 15th March.

Please send your suggetions / feedback to multiutils @ gmail.com to enable us to make the calculator more useful.

 

Select Your Category / Status

Enter data in only shaded boxes.
Click on any "Calculate" button to carry out all calculations.

A

Calculation of Income from Salary
1 Total Salary and / or Pension as per Form 16
( Excluding all exempt/ non-exemptallowances, perquisites & profit in lieu of salary )
2 Allowances Exempt under Section 10
( Will not be added to the Total Income from Salary chargeable to Income Tax )
3 Add : Allowances not exempt
4 Add : Value of Perquisites and / or Fringe Benefits
5 Add : Profits in lieu of Salary
Total Income from Salary chargeable to Income Tax (1-2+3+4+5)

B

Calculation of Income from House Property
1 Annual Lettable Value or Rent Received or Receivable
2 (i) Taxable Amount of Rent
2 (ii) Taxes paid to Local Authorities ('0', If self occupied)
3 Taxable amount of Rent Received / Realized{70% of (1 - 2 - 3)]
4 Interest payable on borrowed capital
Income from House Property chargeable to Income Tax (3 - 4)

C

Calculation of Income from Capital Gains (Short Term + Long Term)
1 Income chargeable at Normal Rates
2 Income Chargeable at Special Rates
Total Income from Capital Gains (1 + 2)

D

Calculation of Income from Other Sources viz. Interest, Dividend etc.
1 Income chargeable at Normal Rates
2 Income Chargeable at Special Rates
Total Income from Other Sources
Details of Income Tax at Special Rate included in C and D above:
  Amount Rate Income Tax
1.
2.
3.
Total

E

Agricultural Income for Rate Purpose only

F

Aggregate Income

G

Calculation of Deductions from Taxable Income
1 Deductions under Sec. 80C, 80CCC & 80CCD.
(Max.1 lakh) For details Click Here
2 Deductions under Sec. 80D for Health Insurance. (Max.20,000/- for Senior Citizens &15,000/- for others). For details Click Here
3 Deductions under Sec. 80D for Health Insurance of parents. (Max.20,000/- if parents are Senior Citizen, otherwise15,000/-).
4 Deductions under Sec. 80DD. Max.1 lac.For details Click Here
5 Deductions under Sec. 80DDB. Max.40,000/-.For details Click Here
6 Deductions under Sec. 80E. For details Click Here
7 Deductions under Sec. 80G. For details Click Here
8 Deductions under Sec. 80GG. For details Click Here
9 Deductions under Sec. 80U. For details Click Here
10 Deductions under Sec. 80RRB. For details Click Here
11 Any other eligible deduction
12 Total Deductions from Taxable Income
Total Taxable Income

H

TDS / Advance Tax Deposited, if any

I

Calculation of Taxable Income, Income Tax, Educational Cess, Total Tax Liability and Net Income
Descriptttion Income Income Tax
Exempt Income
Income chargeable at 10%
Income chargeable at 20%
Income chargeable at 30%
Income chargeable at Special Rates
Total
Less : Income Tax on Agricultural Income included above
Income Tax Payable
Education Cess @ 3% of Income Tax Payable
Total Tax liability
Less: TDS / Advance Tax deposited
Net Income Tax due
Income Net of Income Tax Liability
To Calculate Advance Tax, please Click Here
To calculate interest under Section 234 A, B and C, please Click Here
19 Reply Share Follow
On 24 December 2010 at 08:32 Report
Replies (33)
User Avatar

CHARTERED ACCOUNTANT
16295 Points Joined January 2010

Indian Income Tax & Taxable Income Calculator AY 2011-12 (FY 2010-11)

For Individual Male, Female, Senior Citizen and HUFs Tax payers

Income Tax calculator to calculate your Taxable Income and your Income Tax Liability for Financial Year 2009-10. Use this Calculator to :

  • Calculate your Taxable Income by taking into account income from all sources viz. Salary and Allowances, House Property, Capital Gains, Income from other sources, Agriculture Income etc. You can also include income chargeable at Special Rate for computin the Taxable Income.
  • Calculate deductions available from the Taxable Income under various Sections of Income Tax Act
  • Calculate Income Tax and Education Cess Payable with slab-wise details of Income and Income Tax payable.
  • Calculate Income net of Income Tax Liability
  • Advance Tax Payable by 15th September, 15th December and 15th March.

Please send your suggetions / feedback to multiutils @ gmail.com to enable us to make the calculator more useful.

Select Your Category / Status

Enter data in only shaded boxes.
Click on any "Calculate" button to carry out all calculations.

A

Calculation of Income from Salary
1 Total Salary and / or Pension as per Form 16
( Excluding all exempt/ non-exemptallowances, perquisites & profit in lieu of salary )
2 Allowances Exempt under Section 10 ( Click for Exempt Incomes & Allowances under Section 10 )
( Will not be added to the Total Income from Salary chargeable to Income Tax )
3 Add : Allowances not exempt ( Use Taxable HRA Amount Calculator )
4 Add : Value of Perquisites and / or Fringe Benefits ( Use Perquisite Value Calculator )
5 Add : Profits in lieu of Salary
Total Income from Salary chargeable to Income Tax (1-2+3+4+5)

B

Calculation of Income from House Property
1 Annual Lettable Value or Rent Received or Receivable
2 (i) Taxable Amount of Rent
2 (ii) Taxes paid to Local Authorities ('0', If self occupied)
3 Taxable amount of Rent Received / Realized{70% of (1 - 2 - 3)]
4 Interest payable on borrowed capital
Income from House Property chargeable to Income Tax (3 - 4)

C

Calculation of Income from Capital Gains (Short Term + Long Term)
1 Income chargeable at Normal Rates
2 Income Chargeable at Special Rates
Total Income from Capital Gains (1 + 2)

D

Calculation of Income from Other Sources viz. Interest, Dividend etc.
1 Income chargeable at Normal Rates
2 Income Chargeable at Special Rates
Total Income from Other Sources
Details of Income Tax at Special Rate included in C and D above:
  Amount Rate Income Tax
1.
2.
3.
Total

E

Agricultural Income for Rate Purpose only

F

Aggregate Income

G

Calculation of Deductions from Taxable Income
1 Deductions under Sec. 80C, 80CCC & 80CCD. (Other than Infrastructure Bonds)
(Max. Rs. 1 lakh For details Click Here
Infrastructure Bonds (Max. Rs. 20,000 in addition to Rs. 1 lac)
Total Deduction eligible under Sec. 80C, 80CCC & 80CCD
2 Deductions under Sec. 80D for Health Insurance. (Max. Rs. 20,000/- for Senior Citizens & Rs. 15,000/- for others). For details Click Here
3 Deductions under Sec. 80D for Health Insurance of parents. (Max. Rs. 20,000/- if parents are Senior Citizen, otherwise Rs. 15,000/-).
4 Deductions under Sec. 80DD. Max. Rs. 1 lac. For details Click Here
5 Deductions under Sec. 80DDB. Max. Rs. 40,000/-. For details Click Here
6 Deductions under Sec. 80E. For details Click Here
7 Deductions under Sec. 80G. For details Click Here
8 Deductions under Sec. 80GG. For details Click Here
9 Deductions under Sec. 80U. For details Click Here
10 Deductions under Sec. 80RRB. For details Click Here
11 Any other eligible deduction
12 Total Deductions from Taxable Income
Total Taxable Income

H

TDS / Advance Tax Deposited, if any

I

Calculation of Taxable Income, Income Tax, Educational Cess, Total Tax Liability and Net Income
Descripttion Income Income Tax
Exempt Income
Income chargeable at 10%
Income chargeable at 20%
Income chargeable at 30%
Income chargeable at Special Rates
Total
Less : Income Tax on Agricultural Income included above
Income Tax Payable
Education Cess @ 3% of Income Tax Payable
Total Tax liability
Less: TDS / Advance Tax deposited
Net Income Tax due
Income Net of Income Tax Liability
To Calculate Advance Tax, please Click Here
To calculate interest under Section 234 A, B and C, please Click Here
7 Reply
On 24 December 2010 at 08:34
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CHARTERED ACCOUNTANT
16295 Points Joined January 2010

Income Tax Calculator AY 2011-12 (FY 2010-11) for Corporate Assessees

Calculate Income Tax Payable by Firms, Domestic & Other Companies, Local Authorities and Co-operative Societies. The Calculator takes into account Marginal tax Relief available on Surcharge on incomes exceeding Rs. 1 crore.

Select Your Status



Enter Data in shaded boxes
Please RESET the Calculator after every calculation.
Income from Business or Profession
Income from House Property ( enter -ve, if loss )
Income from Capital Gains
Income from Other Sources
Less: Deductions under Chapter VI A
Additional Input, If Applicable
Income at Special Rate
Income Tax at Special Rate
Rebate under Section 88E
Income Tax at Normal Rates
Total Income Tax {Income Tax  (Normal Rate + Spl. Rate) - Ded. under section 88E]
Surcharge
Education Cess
Total Tax liability
Income Net of Income Tax Liability
8 Reply
On 24 December 2010 at 08:35
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Accountax
6285 Points Joined June 2010

Excellent One....Carry on....

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On 24 December 2010 at 09:25
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Helping All
10575 Points Joined March 2010

very nice...thanxxxxxx

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On 24 December 2010 at 09:39
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IPCC and CS Professional(FINAL) Student
15533 Points Joined January 2009
Very amazing, very great,nice work friend,thanku very much
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On 24 December 2010 at 09:46
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Chartered Accountant
14243 Points Joined February 2009

great , nice going 

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On 24 December 2010 at 09:47
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"PROUD TO BE AN INDIAN"
114235 Points Joined February 2009

Another Very useful post......

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On 24 December 2010 at 10:25
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https://www.facebook.com/pages/Life-and-
16631 Points Joined February 2008

Useful Post

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On 24 December 2010 at 10:33
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Company Secretary and Compliance Officer
114783 Points Joined January 2009

Indeed useful...keep sharing....

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On 24 December 2010 at 11:01
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ca final
110 Points Joined December 2010

very good dear

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On 24 December 2010 at 11:05
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learner
6358 Points Joined January 2010

thnx seems to b a very small word for d kind of work u r doin here...................but thn i cant think of another word to replace it.............so thnk u frm d bottom of my heart..........thnk u veryyyyyyyyy much...................

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On 24 December 2010 at 11:10
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F.C.A. & M.COM
20117 Points Joined August 2007

VERY USEFUL POST.

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On 24 December 2010 at 12:00
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CA in Practice
35867 Points Joined June 2009

Very useful post. Bookmarked.

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On 24 December 2010 at 12:35
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accounts
626 Points Joined February 2010

how to down load the file

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On 24 December 2010 at 13:07


CCI Pro

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