Income Tax Calculator for AY 2012-13

Personal Details
Name
Designation
Department
Age
Gender
PAN No.
City of Residence
Type of residence
If Rented, Rent Paid per month
Period of stay in rented house

27
Male
Bangalore
Rented
12

Copyright - Pavan K U @ GAT Bangalore

Instructions:
1
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7
8
9

Fill your personal details in the "Personal Details" sheet - Including type of
Fill your basic salary and percentage of DA & HRA if changed, in "Income f
Fill the details of your salary from previous employer, if any in "Income fro
Fill the details of your investments and housing loan in deductions part of
Fill the details of your income from other sources, if any in "Other Income"
Fill the desired month to start TDS in "Income from salary" sheet in "Quick
You will get a quick summary of your Taxable income, Tax and TDS in "Inco
Fill TDS amount in respective month based on the TDS information in "Qui
Print "Income tax calculation" and "Income from Salary" sheet and submit

Tax Calculator for AY 2012-13

Personal Details
Subrahmanya K C
Lecturer
MBA
27
Male
CCQPS6378K
Bangalore
Rented
4,500
Months

"Personal Details" sheet - Including type of residence, period of stay and rent
ntage of DA & HRA if changed, in "Income from Salary" sheet
om previous employer, if any in "Income from Salary" sheet
nts and housing loan in deductions part of "Income from Salary" sheet
rom other sources, if any in "Other Income" sheet
TDS in "Income from salary" sheet in "Quick summary" table
your Taxable income, Tax and TDS in "Income from Salary" sheet
onth based on the TDS information in "Quick summary" table
nd "Income from Salary" sheet and submit in office for future action

Income Tax Calculator for AY 2012-13

Income from Salary
Amount in Rs.
Month
April-11
May-11
June-11
July-11
August-11
September-11
October-11
November-11
December-11
January-12
February-12
March-12
Total

Gross Salary
HRA

DA

Basic

Amount

Amount

6,240

131%

8,174

20%

1,248

6,988

160%

11,181

25%

1,747

6,988

160%

11,181

25%

1,747

6,988

160%

11,181

25%

1,747

6,988

166%

11,600

25%

1,747

7,354

166%

12,208

25%

1,839

8,825

166%

14,650

25%

2,206

8,825

166%

14,650

25%

2,206

8,825

166%

14,650

25%

2,206

8,825

166%

14,650

25%

2,206

8,825

166%

14,650

25%

2,206

8,825

166%

14,650

25%

94,496

153,425

CCA

Others

Gross
Salary

Deductions
PF

PT

TDS

Loss of
Pay

15,662
19,916
19,916
19,916
20,335
21,401
25,681
25,681
25,681
25,681
25,681
25,681
271,232

2,206

23,311

15,662
19,916
19,916
19,916
20,335
21,401
25,681
25,681
25,681
25,681
25,681
25,681
271,232

Salary from Previous employer/Pension (Gross salary X No. of months)

Deductions from Gross Total Income

Quick Summary

(Please read comments inserted in Amount column)

Section
24
80G
80D
80E

80C

80 CCF

Savings/Investment
Interest on Housing Loan
Donation 50% exemption
Donation 100% exemption
Health insurance premium for self, spouse and children
Health insurance premium for parents
Interest paid on Education Loan
Employee provident Fund
LIC and other Private Insurance
ULIP and pension funds
Equity linked insurance and Mutual funds
Repayment of principal on Housing Loan
Education/Tution fee of children
NSC
PPF
Bank FD with atleast 5 years maturity
Infrastructure Bonds - 80CCF

Amount

Taxable Income
Total Tax Liability
TDS starting from
TDS amount
Net Tax Payable/Refund after TDS

209524
3041
Nov-11
608
3041

3000
18,000
12,000

5397

Net
Salary

Copyright - Pavan K U @ GAT Bangalore

Income Tax Calculator for AY 2012-13

Other Income
Income from Business/Profession
Income as per P&L A/c
Income from other sources
(Bank Interest, Royalty, Winnings from lottery etc.)
Income from NSC/Bank/Bonds
Any other source (Please specify bellow)

Total

0
0

Income Tax Calculator for AY 2012-13

Computaion of Income Tax
Name: Subrahmanya K C
Lecturer - Global Academy of Technology
Particulars
Gross Salary (After Loss of Pay)
Less: Exempted Allowance
House Rent Allowance (HRA)
Actual HRA
23311
Excess of Rent paid over 10% of salary
29208
40% of salary
37798
Least of the above U/s 10(13A)
Conveyance Allowance (CCA) U/s 10(14)
Less: Professional Tax
Income under the head salaries
Income from other source
Gross Total Income
Less: Deduction under chapter VI A
Under section 80 C (Maximum upto INR 100000)
Employee provident Fund
LIC and other Private Insurance
ULIP and pension funds
Equity linked insurance and Mutual funds
Repayment of principal on Housing Loan
Education/Tution fee of children
NSC
PPF
Bank FD with atleast 5 years maturity
(a)
Interest on Housing Loan u/s 24
Infrastructure Bonds u/s 80CCF
Donation 50% exemption u/s 80G
Donation 100% exemption u/s 80G
Health insurance premium for self, spouse and children u/s 80D
Health insurance premium for parents u/s 80D
Interest paid on Education Loan u/s 80E
(b)
Total deduction under chapter VI A
[(a) + (b)]
Net Taxable Income
Tax Liability
Tax slab:
For Individual Male Assessee
Up to Rs 1,80,000
Nil
1,80,001 to 5,00,000
10%
5,00,001 to 8,00,000
20%
Above 8,00,000
30%
Total tax liability
Add: Education cess @ 3%
Gross tax payable
Less: Tax Deducted at Source

Net tax payable/Refund

Prepared through excel - Pavan K U @ GAT Bangalore

12-13
x
PAN: CCQPS6378K
Dept: MBA
Amount (INR) Amount (INR)
271232

23311
0
0

0
18000
0
12000
0
0
0
5397
0
35397
0
0
0
0
0
0
3000
3000

23311
247921
0
247921

35397
###

3000
38397
209524

Nil
2952
0
0
2952
89
3041
0

3041