Income Tax Calculator FY 2017-18 (AY 2018-19)
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Below 60 yrs
60 To 80 yrs
80 yrs Plus
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A
A. Income from Salary / Pension
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Saved Calculations
1
Total Salary/Pension as per Form 16
1
2
Allowances Exempt under Section 10
2
3
Add : Allowances not exempt
4
Add : Value of Perquisites
5
Add : Profits in lieu of Salary
Total Income from Salary chargeable to Income Tax
Income (Profits) from Business / Profession
B
Income / Loss from House Property
1
Interest payable on borrowed capital
(Max. 2 lacs, if Self Occupied)
C
Income from Other Sources
D
Aggregate Income (A+B+C)
Agricultural Income
(For Rate purpose)
E
Income from Capital Gains -
Know about capital Gain
Calculate Capital Gain as per amendments w.e.f. April'17
1
Short Term Capital Gain chargeable - Taxable at Normal Rates
2
Short Term Capital Gain chargeable (u/s 111A) - Taxable @ 15%
3
Long Term Capital Gain chargeable - Taxable @ 20%
4
Long Term Capital Gain chargeable - Taxable @ 10%
Total Income from Capital Gains
F
Total Taxable Income
G
Eligible Deductions
1
Deductions under
Sec. 80C
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2
Deductions under
Sec. 80CCC
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3
Deductions under
Sec. 80CCD1
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4
Total of Deductions u/s 80C, 80CCC and 80CCD(1) (Max. Rs. 1.50 lakh)
5
Deductions under
Sec. 80CCD2
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6
Deductions under
Sec. 80CCD
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7
Deductions under
Sec. 80CCG
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8
Deductions under
Sec. 80D
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Health Insurance - Self & family
9
Deductions under
Sec. 80D
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Health Insurance - Parents
10
Deductions under
Sec. 80DD
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11
Deductions under
Sec. 80DDB
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12
Deductions under
Sec. 80E
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13
Deductions under
Sec. 80G
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14
Deductions under
Sec. 80GG
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15
Deductions under
Sec. 80RRB
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16
Deductions under
Sec. 80TTA
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17
Deductions under
Sec. 80U
Know It
18
Any other eligible deduction
Total Deductions (Total of G)
H
Tax Paid / Deducted Already
1
Tax Deducted at Source
2
Tax Collected at Source
3
Advance Tax paid
4
Self Assessment Tax paid
Total Tax already Paid
Calculate Taxable Income
& Income Tax
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I
Net Taxable Income
a
Income Tax at Normal Rate
b
Short Term Capital Gains (Covered u/s 111A) 15%
c
Long Term Capital Gains (Charged to tax @ 20%)
d
Long Term Capital Gains (Charged to tax @ 10%)
J
Income Tax
a
Less: Tax Credit u/s 87A
4
b
Income Tax Payable
c
Surcharge
5
d
Income Tax + Net Surcharge
e
Education Cess
6
Gross Income Tax liability
Less:
Tax relief under sections 89, 90 and 91
Net Income Tax liability
Tax Payable / Refund
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