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Income Tax Calculator for AY 2013-14

Finotax Income Tax & Taxable Income Calculator for AY 2012-13 (FY 2011-12)
For individual and HUF Tax Payers

We have tried to make it the best and most comprehensive online Income Tax Calculator for Indian Individual and HUF Tax payers. Please send your feedback and suggestions to finotax@gmail.com to enable us to make the calculator more useful.

Finotax Income Tax & Taxable Income Calculator for Individuals and HUFs - AY 2012-13 (FY 2011-12)
Select Your Sex
Select Your Age group
Enter data in shaded boxes.
AIncome from SalaryHide details of ASee details of A
1Total Salary/Pension as per Form 16 (Excl. all exempt/non-exempt allowances, perquisites & profit in lieu of salary)
2Allowances Exempt under Section 10. ( Will not be added to the Total Income from Salary chargeable to Income Tax )
3Add : Allowances not exempt
4Add : Value of Perquisites and / or Fringe Benefits
5Add : Profits in lieu of Salary
Total Income from Salary chargeable to Income Tax (1+3+4+5)
BIncome from House PropertyHide details of BSee details of B
1Annual Lettable Value or Rent Received or Receivable
2Amount of Rent, which cannot be realized
3Taxes paid to Local Authorities ('0', If self occupied)
4Taxable amount of Rent Received / Realized {70% of (1 - 2 - 3)]
5Interest payable on borrowed capital
Income from House Property chargeable to Income Tax (3 - 4)
CIncome from Capital Gains (Short Term + Long Term)Hide details of CSee details of C
1Income chargeable at Normal Rates
2Income Chargeable at Special Rates
Total Income from Capital Gains (1 + 2)
DIncome from Other Sources viz. Interest, Dividend etc.Hide details of DSee details of D
1Income chargeable at Normal Rates
2Income Chargeable at Special Rates
Total Income from Other Sources
EIncome Tax at Special Rate included in C and D above:Hide details of ESee details of E
 AmountRateIncome Tax
1.
2.
3.
Total
FAgricultural Income for Rate Purpose only
GAggregate Income
HDeductions from Taxable IncomeHide details of HSee details of H
1Deductions under Sec. 80C, 80CCC & 80CCD (Max. Rs. 1 lakh)
2Deductions under Sec. 80CCF for Investment in Infrastructure Bonds (Max. Rs. 20,000)
3Deductions under Sec. 80D for Health Insurance. (Max. Rs. 20,000/- for Senior Citizens & Rs. 15,000/- for others).
4Deductions under Sec. 80D for Health Insurance of parents. (If parents are Senior CitizenRs. 20,000/-, else Rs. 15,000/-).
5Deductions under Sec. 80DD (Max. Rs. 1 lac.)
6Deductions under Sec. 80DDB (Max. Rs. 40,000/-.)
7Deductions under Sec. 80E
8Deductions under Sec. 80G
9Deductions under Sec. 80GG
10Deductions under Sec. 80U
11Deductions under Sec. 80RRB
12Any other eligible deduction
Total Deductions from Taxable Income
ITotal Taxable Income
JTaxable Income, Income Tax, Educational Cess, Total Tax Liability and Net Income
DescriptionIncomeIncome 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
Gross Income Tax liability
Less: Tax relief under sections 89, 90 and 91
Net Income Tax liability
Add: Interest Payable under Sections 234A, 234B and 234C
Aggregate Income Tax liability
Less: TDS / Advance Tax deposited
Net Income Tax due
Income Net of Income Tax Liability
Use Calculator to calculate interest under Section 234 A, B and C.
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