TaxCalculator - AKB & Associates®

1. General & Client Information

2. Salary Information

Salary Components

A) Basic Pay	Rs.
B) D.A.	Rs.
C) H.R.A.	Rs.
D) Medical Allowance	Rs.
E) Other Allowance	Rs.
F) Honorarium etc.	Rs.
G) Any Arrear of Salary	Rs.
Total (Gross Salary)	Rs.
Add: i) Govt. contribution to the new pension scheme	Rs.
ii) Children Education Allowance	Rs.
iii) Leave Encashment under LTC	Rs.
Total Income from Salary	Rs.
Less: Exemption U/s 10 of the IT Act
A) Conveyance Allowance	Rs.
B) H.R.A. U/s 10(13A)
1) House Rent Received	Rs.
2) House Rent Paid (Q.A.=> in excess of 10% of Salary) Rs.
3) 40% of Salary (Salary = Basic + D.A.)	Rs.
Exempt (Least of the above)	Rs.
C) Children Education Allowance	Rs.
D) Retirement Leave Encashment U/s 10(10AA)	Rs.
TOTAL (-)	Rs.
Less: Standard deduction for Salaried & Pensioner (Rs. 50,000/-) U/s 16(ia) (Rs. 75,000/- for New Tax Regime)	(-) Rs.
Less: Profession TAX (Tax on employment U/s 16(iii))	(-) Rs.
Less: Interest on borrowed Capital (HBL) (House Building Loan Interest paid / accrued for construction of residential house for self occupation)	(-) Rs.
Add: Any Other Income
1. Interest on Bank Deposits on FD	Rs.
2. Interest on Bank Deposits on SB	Rs.
3. Accrued Interest on NSC	Rs.
4. Accrued Interest on KVP	Rs.
5. Other Interests including Interest on IT Refund	Rs.
6. Other Income, if any	Rs.
Aggregate of income from other source	Rs.
Less: Tax relief u/s 89(1) for arrear salary etc. (Details to be attached in form 10E)	Rs.

3. Deduction under Section 80

Deduction Head	U/S	Qlf. Amt./Rs.	Amount (Rs.)
1. Premium paid to GIC against Mediclaim Insurance Policy	80D	25,000/- 50,000/-#
2. Expenditure incurred on treatment maintenance rehabilitation of physically handicapped/mentally retarded/blind dependent	80DD	75,000/- 1,25,000/-**
3. Expenditure for specific ailments like cancer, Adis, Thalassaemia, Chronic Renal failure, Neurological Disease etc. of self or dependent family members	80DDB	40,000/- or 1,00,000/-Sr. Citizen
4. Deduction of the amount of interest paid during the year in r/o loan taken for the purpose of pursuing higher education for an individual assessee/spouse/children. (upto 7 succeeding years from the year in which interest payment starts)	80E	Entire amt. paid by way of interest on such loan during previous year out of the income chargeable to tax.
5. First time Home buyers can claim an additional Tax Deduction in r/o interest on loan taken for residential house property (value does not exceed Rs. 45 lakh) & the home buyer should not have any other existing residential house in his name. One time deduction upto Rs. 1,50,000/-	80EEA	Entire amt. paid by way of interest on such loan during previous year out of the income chargeable to tax.
6. An individual taxpayer may have an electric vehicle for personal use or for business use. This deduction would facilitate individuals having an electric vehicle for personal use to claim the interest paid on the vehicle loan. Deduction upto Rs. 1,50,000	80EEB	Entire amt. paid by way of interest on such loan during previous year out of the income chargeable to tax.
7. Deduction in r/o interest in savings accounts	80TTA	Upto 10,000/-
8. Deduction in r/o interest on bank or Post Office Fixed/Recurring Deposits (For Sernior Citizens)	80TTB	Upto 50,000/-
9. Assessee who is physically handicapped/blind/mentally retarded	80U	75,000/- 1,25,000/-**
10. Donation	80G
# Additional deduction Rs. 25,000/- if assessee i.e 60 yrs from from the A.Y. 2025-26 onwards + Addl. ded. Rs. 5,000/- if spouse or any member of the family is a sr. citizen
** severe disability i.e disability of 80% or more
Aggregate of deduction amount under Section 80:

4. Deduction under Section 80C, 80CCC and 80CCD

Deduction Head		Amount (Rs.)
a) Contribution to Provident Fund under PF Act 1925 (does not include repayment of advances/loans)
b) Life Insurance Premium paid
c) Fixed deposit for a minimum period of 5 years in the SBI or public sec. Bank
d) Contribution/Subscription to ULIP / ELSS / Mutual Fund
e) Tuition fees paid limited to two children
f) Repayment of House Building loan for purchase/construction of house
g) Subscription to any such security/deposit scheme of the Central Govt.
h) Contribution to PPF
i) GLSI Scheme
j) Deposit in post office 10/15 years CTD/NSC
k) Accrued Interest on NSC
l) PLI
m) Other (please specify)
n) U/S 80CCC contribution to the new pension fund introduced by the LIC or any other insurer notified by the Central Govt.
o) U/S 80CCD (1) contribution to the new pension scheme limited to 10% of salary
Total of Section 80C, 80CCC and 80CCD (1)
[U/S 80CCD(2)] - Govt's contribution to NPS limited to 10% of salary
Total Amt./Qlf. Amt. (Rs. 1,50,000/-)
Addl. Deduction U/S 80CCD(1B) limited to Rs. 50,000/- for National Pension System (NPS)

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