PAISAA™ - Easy Tax Calculator


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PAISAA™ - Easy Tax Calculator

This calculator is for estimation of income tax only. To prepare Income Tax Return, pls. register with TaxMunshi

AY 2011-2012 / FY 2010-2011

Personal Details

Age:

Gender:

Income

Salary Income

House Property Income

(Calculate This)

Only 1 house is allowed

Property Usage?

Self Occupied Rented Out

Municipal Tax paid for the Property during the F.Y. 2009-2010:

Means of Finance?

Self Borrowed

Click here to calculate Income from House Property

Short Term Capital Gains

Shares/Mutual Funds (taxed @15%)

Other Assets (taxed @Normal rates)

Long Term Capital Gains

Assets Excl. Shares/Mutual Funds (taxed @20%)

Other Income

Winning from Lotteries, crossword, puzzeles etc.

Other Taxable Income including Interest income

Deductions under chapter VI A

Section 80C: In Equity Linked Savings Scheme: In Specified shares / units of Mutual Funds For Life Insurance Premium Under Pension Plan Under Deferred Annuity Plan Unit Linked Insurance Plan To Public Provident Fund To Recognized Provident Fund Provident Funds on Salaries To Superannuation Fund In Term Deposit with a Scheduled Bank In National Saving Certificate Interest Accrued on NSC Time Deposit with post Office Senior Citiziens Savings Scheme Investment in Infrastructure Bonds Investment in NABARAD TaxSaving Bonds Tuition fees paid for Children Other Tax Saving Investment Deduction with respect to life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.	Maximum Rs. 1,00,000/-
Section 80CCC: In Notified Pension Fund Under Annuity Plan Deduction with respect to contribution to certain pension funds	Maximum Rs. 1,00,000/-
Section 80CCD: Contribution to Pension Scheme of Central Government Deduction with respect to contribution to pension scheme of Central Government	Employer's and employee's contribution subjected maximum of 10% of salary Maximum Rs. 1,00,000/- For Sec. 80C, 80CCC, 80CCD combined
Section 80CCF: Long term Infrastructure Bond notified by Central Government Deduction with respect to Long term Infrastructure Bond notified by Central Government	Maximum Rs. 20,000/-
Section 80D: Amount Paid for Medical Insurance Premium Deduction with respect to medical insurance premia	Maximum Rs. 15,000/- for Self, Spouse, Children Maximum Rs. 15,000/- for Parents Additional Rs. 5,000/- For Senior Citizen
Section 80DD: Expenditure for the medical treatment, training or recovery of any of your family member who is handicapped and totally dependent upon you for support and maintenance Deduction with respect to maintenance including medical treatment of a dependent who is a person with disability	Maximum Rs. 50,000/- with Disability Maximum Rs. 1,00,000/- with Severe Disability
Section 80DDB: Expenditure on medical treatment of yourself or any of your family members suffering from specified disease Deduction with respect to medical treatment, etc.	Maximum Rs. 40,000/- Additional Rs. 20,000/- For Senior Citizen
Section 80E: Interest paid on loan taken for your Higher Education Deduction with respect to interest on loan taken for higher education	Actual amount paid
Section 80G: Charitable Contributions Deduction with respect to donations to certain funds, charitable institutions, etc.	100% or 50% of eligible donations
Section 80GG: Rent paid during the year for your Residential House Deduction with respect to rents paid	Maximum Rs. 2,000/- per month
Section 80GGA: Contribution Made to various association / institution for Scientific Research or Rural Development Deduction with respect to certain donations for scientific research or rural development	100% of sum donated
Section 80GGC: Contribution Made to Political Parties Deduction with respect to contributions given by any person to political parties	100% of sum contributed
Section 80U: Person Disability Deduction in case of a person with disability	Maximum Rs. 50,000/- with Disability Maximum Rs. 1,00,000/- with Severe Disability

Tax Credit

AY 2012-2013 / FY 2011-2012 Current