Also calculate your HRA Exemption & Chargeable for Income and Tax and Perquisite Value of Leased Accommodation / Rent Free Accommodation Facility
Bank Employees and officers can calculate salary of 12 months Apr'17 to Mar'18. This calculator is featured with DA calculation as per the prevailing DA slabs for the respective months. Auto calculates Income Tax payable by you on your salary as calculated on the basis of your inputs.
Two useful calculators are also provided under your salary totals :- First, to calculate HRA Exemption & Chargeable for Income Tax. Second, to calculate Perquisite Value of Leased Accommodation. Please select the calculator as per your requirements and it is recommended to view the Step to use Salary Calculator.
Step to use Salary & Tax Calculator
Enter Your Basic Pay (1)as on April 2017 for Complete year calculation for FY 17-18 ( from Apr'17 to Mar'18)
Enter Allowance where DA is payable (2)- Enter total of your allowances on which DA is payable viz PQP, Graduation Pay, Special Pay of workmen staff (like special assistant, Head cashier, Daftari etc.) Please do not enter here Special Pay ( new intruduced in 10
Biprttite settlemt shall be auto calculated as per your selection / changed first option).
Enter All other Allowances (3) total where DA is NOT payable -Enter the allowance where DA is not payable viz. FPP, Transport Allowance.
Select HRA rate (4) of % Payable - To make it user friendly, the options are named with % of HRA rate payable for officer, workmen or both.
Enter Monthly contribution (5) to PF / NPS + (Tax saving Investment u/s 80C ( PPF / ELSS / Ins. Premium etc. - the Insurance Premium / PPF or other investmnet made yearly, half yearly or quarterly - enter the amount by dividing 12,6,3 respectively)
Enter your annual increment amount (6)
Select month of Increment released (7) to you from May'17 to Mar'18. Please note that Increment for the month of April be added while entering the basic pay payable from April 17.
Enter any change in your contribution (8)to PF / NPS due to release of increment or any self contribution to tax saving investments.
Select the month at (9) of above change which you have entered at (8) due to Increment released / self contribution in tax saving investments et. from May'17 to Mar'18. Please note that Increment for the month of April be added while entering the basic pay payable from April 17.
Enter at (10) CCA % Payable in your City (payable only to Officers staff). Therefor defualt selected "CCA not Payable".
Select option for your Special (11). Default selected for workmen and Officer upto Scale III. No need to change them, The Officer above scale IV and above, please change it.
Click Submit button to show your monthwise salary calculations with gross total of salary payable in FY 2017-18.
To calculate your Income Tax Liability in FY 2017-18. Press button "Calculate Tax". Instantly, Income Tax, Ecess and Total Tax Liability (Income Tax + Ecess) payable by you in FY 2017-18 will be displayed on the basis of your of salary of your inputs and total salary calculated therei. (Any person retired or retiring in FY 17-18 on reaching their superanuution, please select age above 60 and less 80 years for tax calculations).
To calculate HRA exemptions and chargeable for income tax click the link provided hereunder to open the calculator for your calculation. Enter the desired details from the calculated figures + as regards to your rent paid etc. Please be advised that for claiming HRA exemption submission of Rent Reciept is mandatory. Click Here to generate / print Rent Reciept and know more what about it.
Bank officers availing leased accomodation facility are also liabile to pay tax on Perquisite Value of Leased Accommodation. To calculate Perquisite Value of Leased Accommodation click the link provided hereunder to open the calculator for your calculation> Enter the Enter the desired details in the respective input area.
Please scroll down to see your calculations viz. - Month wise salary calculations, Total of your salary for FY 2017-18 and your Income Tax liability on Salary Income for year 2017-18. To calculate HRA Exmeption / Perquisite Value of Leased Accommodation
Total of salary - FY 2017-18
Total of contribution / Investments Entered at 5 & 8 (PF or NPS + Ins.Pr + ELSS etc. + PPF etc.)( Max. Rebate u/s 80C Rs. 150000)
Net Taxable salary - FY 2017-18
Select your Age For I/Tax Calculation FY 17-18 Retired / Retiring in FY 17-18 on Reaching 60 years - Select age 60-80
Click Here to calculate your Income Tax Liability with other rebate, (H/Loan Intt. Health Ins. Pr. etc.), and other income for FY 2017-18
Click Here - To Calculate Perquisite Value of Leased Accommodation
Calculate Perquisite Value of Leased Accommodation
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