Income Tax and Taxable Income Calculator AY 2013-14 (FY 2012-13)

For Individual and HUF Tax payers

Calculate your Taxable Income by computing income from all sources viz. Salary and Allowances, House
Property, Capital Gains, Income from other sources, Agriculture Income etc. You can also include income chargeable
at Special Rate for computing the Taxable Income.
Calculate deductions available from the Taxable Income under various Sections of Income Tax Act.
Calculate Income Tax and Education Cess Payable with slab-wise details of Income and Income Tax payable.
Calculate Income net of Income Tax Liability.
You can use this calculator as an aid to compile your tax return.
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 suggestions and feedback to finotax@gmail.com to enable us to make the
calculator more useful.
Finotax Income Tax & Taxable Income Calculator for Individuals and HUFs - A Y 2013-14 (FY 2012-13)
Select Your 80 years and more
Age group
Enter data in shaded boxes.
A Income from SalaryHide details of A
1 Total Salary/Pension as per Form 16 ( Excluding all exempt/ non-exempt allowances, perquisites & profit in lieu of salary )

2 Allowances Exempt under Section 10 ( Will not be added to the Total Income from Salary chargeable to Income Tax )

3 Add : Allowances not exempt

4 Add : Value of Perquisites and / or Fringe Benefits

5 Add : Profits in lieu of Salary

Total Income from Salary chargeable to Income Tax (1+3+4+5)

B Income from House PropertyHide details of B

1 Annual Lettable Value or Rent Received or Receivable

2 Amount of Rent, which cannot be realized

3 Taxes paid to Local Authorities ('0', If self occupied)

4 Taxable amount of Rent Received / Realized {70% of (1 - 2 - 3)]

5 Interest payable on borrowed capital

Income from House Property chargeable to Income Tax (3 - 4)

C Income from Capital Gains (Short Term + Long Term)Hide details of C

1 Income chargeable at Normal Rates

2 Income Chargeable at Special Rates

Total Income from Capital Gains (1 + 2)

D Income from Other Sources viz. Interest, Dividend etc.Hide details of D
1 Income chargeable at Normal Rates

2 Income Chargeable at Special Rates

Total Income from Other Sources

E Income Tax at Special Rate included in C and D above:Hide details of E

Amount Rate In
1.

2.

3.

Total

F Agricultural Income for Rate Purpose only

G Aggregate Income

H Deductions from Taxable IncomeHide details of H

1 Deductions under Sec. 80C, 80CCC & 80CCD.(Max. Rs. 1 lakh)

2 Deductions under Sec. 80CCG for Investment under Rajiv Gandhi Equity Saving Scheme (RGESS)

3 Deductions under Sec. 80D for Health Insurance. (Max. Rs. 20,000/- for Senior Citizens & Rs. 15,000/- for others).

4 Deductions under Sec. 80D for Health Insurance of parents. (If parents are Senior Citizen Rs. 20,000/-, else Rs. 15,000/-).

5 Deductions under Sec. 80DD Max. Rs. 1 lac.

6 Deductions under Sec. 80DDB (Max. Rs. 40,000/-)

7 Deductions under Sec. 80E

8 Deductions under Sec. 80G

9 Deductions under Sec. 80GG

10 Deductions under Sec. 80U

11 Deductions under Sec. 80TTA (Savings account interest. Max. Rs. 10,000/-)

12 Deductions under Sec. 80RRB

13 Any other eligible deduction

Total Deductions from Taxable Income

I Total Taxable Income

J Taxable Income, Income Tax, Educational Cess, Total Tax Liability and Net Income
Descriptio Income
n
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.