it tax 2012

7/31/2019 IT TAX 2012

http://slidepdf.com/reader/full/it-tax-2012 1/12

7/31/2019 IT TAX 2012


Disability Percentage of the Handicapped Dependents

if less than 80% enter L80, if more than 80% enter M80 L80

C.4 Exp. likely to be incurred on specified disease or ailment (Cancer/AIDS etc.)

Exp incurred on senior citizen No

C.5

Permanent Disability benefit (self) - adhoc amount of (in case

of disability

Self Disability Percentage

if less than 80% enter L80, if more than 80% enter M80 M80

C.6Interest on Education Loan (for self education) from

Charitiable or Financial Institution. (No Limit)

Total Deduction u/s 80D to 80U

Investments under Sections 80C & 80CCC qualifying for deductions upto Rs.1 Lac or R

D.1

D.2

D.3

D.4

D.5D.6

D.7

D.8

D.9

D.10

D.11

D.12

D.13

D.14

D.15

D.16

Total Deduction u/s 80C and 80CCC

Total Deduction under Chapter VIA

ENTERTAINMENT ALLOWANCE (ONLY FOR GOVT EMPLOYEES)

PROFESSIONAL TAX

Net Total Taxable Income

Tax on Total IncomeAdd Surcharge

Add Education Cess

Total Tax Payable in respective of Financial Year 2011-2012

NOTES

*** It is mandatory to make changes in formula every year if you are not able to undeENTERTAINMENT ALLOWANCE (ONLY FOR GOVT EMPLOYEES) can also be used to

Deduction under Section 16 (ii) & 16 (iii)

MUTUAL FUNDS notified under SECTION 10(23D)

EQUITY LINK SAVING SCHEME(ELSS) Mutual Funds notified under SECTION

TERM DEPOSIT with a SCH.Bank in a notified Scheme for a term not less than 5

TUTION FEES PAID (Only full time education tution fees paid to any Indian Univ,

SENIOR CITIZENS SAVINGS SCHEME Rules, 2004

POST OFFICE TIME DEPOSIT Rules, 1981 for a term not less than 5 years

PUBLIC PROVIDENT FUND (PPF)LIFE INSURANCE PREMIUM PAID

UNIT LINKED INSURANCE PLANS

NSC-NATIONAL SAVING CERTIFICATE

DEPOSIT IN NATIONAL SAVING SCHEME (NSS)

INFRASTRUCTURE INVESTMENT in approved BONDS

Self Contribution in Provident Fund. Assessee's rate of PF contribution w.r.t Basic

Voluntary Contribution Provident Fund

INVESTMENT IN PENSION SCHEME

HOUSING LOAN PRINCIPAL REPAYMENT

7/31/2019 IT TAX 2012


Percentage 10% 20% 30%

Male 180000 500000 800000

Female 190000 500000 800000

Sr.Citizen 250000 500000 800000

Maximim Limit Under Section Actual Amount Eligible Amount

Rs5,244 U/Sec 10(13A) Rs42,000 Rs5,244

Rs9,600 Rs0 Rs0

Rs15,000 Rs1,311 Rs1,311

Rs6,555

Rs19,665

Rs0 Rs0

Rs150,000 U/S 24(1)(Vi) Rs0 Rs0

Rs0 Rs0

Rs19,665

Under Section Actual Amount Maximim Limit Eligible Amount

U/Sec 80D(2A) Rs0 Rs15,000 Rs0

U/Sec 80D(2B) Rs0 Rs15,000 Rs0

ce of handicapped Dependents

tion at source for the financial year.

[email protected]

IF you don’t want to edit the formula just fill in the yellow shaded boxes

Every year change the slabs do minor corrections in formula and you have the IT calc

year

WORKING FOR CALCULATION OF TAX (change slabs here)

Sheet is unprotected for your research and further development, for further enquiri

TOR FOR FINANCIAL YEAR 2011-12

been made to cover most of the scenarios of Income, Exemptions, Deductions, etc. However, you are advis

or tax consultant to know your actual Tax Liability.

mailto:[email protected]

7/31/2019 IT TAX 2012


U/Sec 80DD Rs0 Rs50,000 Rs0

U/Sec 80DDB Rs0 Rs40,000 Rs0

U/Sec 80 U Rs0 Rs75,000 Rs0

U/Sec 80E Rs0 No Limit Rs0

Rs0

s.1.2 Lac

U/Sec 80C Rs1,259 12% Rs1,259

U/Sec 80C Rs0 Rs0

U/Sec 80 CCC Rs0 Rs10,000 Rs0

U/Sec 80C Rs0 Rs0

U/Sec 80C Rs0 Rs70,000 Rs0U/Sec 80C Rs33,000 Rs33,000

U/Sec 80C Rs0 Rs0

U/Sec 80C Rs0 Rs0

U/Sec 80C Rs0 Rs0

U/Sec 80CCF Rs0 Rs20,000 Rs0

U/Sec 80C Rs0 Rs0

U/Sec 80C Rs0 Rs0

U/Sec 80C Rs0 Rs0

U/Sec 80C Rs6,000 Rs6,000

U/Sec 80C Rs0 Rs0

U/Sec 80C Rs0 Rs0

Rs40,259 Rs40,259

Rs40,259

U/Sec 16(ii) Rs0 5000 Rs0

U/Sec 16(iii) Rs182 Rs182

Rs0

Rs0 ***

Rs0

Rs0

Rs0

stand the formula, get it changed from someone who knows, else it wont show the corralculate LTA exemption the same field can be used if you are a non govt employee, Cha

7/31/2019 IT TAX 2012


lator for that

es contact

d to consult any

7/31/2019 IT TAX 2012


ct tax liabilitynge section and limits

7/31/2019 IT TAX 2012


In this sheet you can use to simulate the entire year salary modify as per need .

104400 306590 193864 TRANS

INCOME

Band Pay Grade Pay DA HRA Trans

March 49420 8700 15692 11624 1600

April* 49420 8700 34676 11624 1600

May 49420 8700 20342 11624 1600

June** 49420 8700 20342 15304 2615

July 51170 8700 20955 17961 3200

August 51170 8700 20955 17961 3200

September 51170 8700 38918 17961 3200

October 51170 8700 26942 17961 3200

November 51170 8700 26942 17961 3200

December 51170 8700 26942 17961 3200

January 51170 8700 26942 17961 3200

February 51170 8700 26942 17961 3200

TOTAL 607040 104400 306590 193864 33015

7/31/2019 IT TAX 2012


7/31/2019 IT TAX 2012


47001 PF 122114

DEDUCTIONS

Trans DA Gross Group Ins EPF Income Tax P.Tax

432 87468 120 8857 15000 200

560 106580 120 11089 15000 200

560 92246 306 9415 15000 200

914 97295 213 9415 15000 200

1440 103426 213 9699 15000

1440 103426 213 9699 12500

1440 121389 213 11855 20000

1440 109413 213 10417 15300

1440 109413 213 10417 15300

1440 109413 213 10417 15300

1440 109413 213 10417 15300

1440 109413 213 10417 29048 2190

13986 1258895 2463 122114 197748 2990

total tax 0

7/31/2019 IT TAX 2012


7/31/2019 IT TAX 2012


49421

168993

7/31/2019 IT TAX 2012


it tax 2012

Documents