Income Tax Calculator 2018-19

(Note : * fields are mandatory fields.)
(info) Information Here Information Icon
Name * Designation *
Employee ID PAN No. *
7 CPC Level
(info) Select your current Level. Required for calculation and T.A.
Type of Employee
(info) Select Employee Type
Disability of Employee
(info) Required for calculation of Double T.A. and additional rebate in income tax calculation.

% of Disability (for savings under section 80U)
(info) Person with disability from 40 to 80% - 75000/- and from 81&above -125000/-
Children Education Allowance
(info) Required in case an employee is availing CEA and claming rebate in Income tax accordingly
   
Dependent Disability
(info) Required for calculation of max limit of saving.
Dependent Disability % (Saving under Section 80DD)
(info) 40 to 80 %- 75000/- and 81&above - 125000/-
Salary Details & Savings
Basic as on 01.03.2018 * Total House Rent Paid
(info) Total House Rent paid during the year.
Monthly GPF / EPF Deduction
(info) Enter Monthly GPF / EPF Deduction
Monthly Income Tax
(info) Monthly Income tax
Interest on Home Loan u/s 24
(info) Max deduction of Rs2,00,000/-
Principal on Home Loan
(info) Comes under saving under section 80C
1. Savings under 80C
(info) Subject to a limit of Rs.1,50,000/-(Payment of insurance premium, Provident Funds, Sukanya Samriddhi Account etc.
2. Savings under 80CCC
(info) Section 80CCC allows an employee deduction of an amount paid or deposited out of his income chargeable to tax to effect or keep in force a contract for any annuity plan of Life Insurance Corporation of India or any other insurer for receiving pension from the Fund referred to in section 10(23AAB). However, the deduction shall exclude interest or bonus accrued or credited to the employee's account, if any and shall not exceed Rs. 1,50,000.
3. Savings under 80CCD (1)
(info) Section 80CCD(1) allows an employee, being an individual employed by the Central Government on or after 01.01.2004 or being an individual employed by any other employer, or any other assessee being an individual, a deduction of an amount paid or deposited out of his income chargeable to tax under a pension scheme as notified vide Notification F. N. 5/7/2003- ECB&PR dated 22.12.2003 National Pension System-NPS or as may be notifed by the Central Government. However, the deduction shall not exceed an amount equal to 10% of his salary (includes Dearness Allowance but excludes all other allowance and perquisites).
4. Savings under 80CCD(1)(B)
(info) As per section 80CCD(1B), an assessee referred to in 80CCD(1) shall be allowed an deduction in computation of his income, of the whole of the amount paid or deposited in the previous year in his account under the pension scheme notified or as may be notified by the Central Government, which shall not exceed Rs. 50,000. The deduction of Rs. 50,000 shall be allowed whether or not any deduction is allowed under sub-section(1). However, the same amount cannot be claimed both under sub-section (1) and sub-section (1B) of section 80CCD. It is emphasized that as per the section 80CCE the aggregate amount of deduction under sections 80C, 80CCC and Section 80CCD(1) shall not exceed Rs.1,50,000/-. The deduction allowed under section 80 CCD(1B) is an additional deduction in respect of any amount paid in the NPS upto Rs. 50,000/-. However, the contribution made by the Central Government or any other employer to a pension scheme u/s 80CCD(2) shall be excluded from the limit of Rs.1,50,000/- provided under this section.
5. Savings under 80D
(info) Case1 - 25000 (Medical insurance of self & Family)+25000(Medical Insurance of Parents(no one of them is a senior citizen)) Total-50000/-. Case 2 - Case1 - 25000 (Medical insurance of self & Family)+50000(Medical Insurance or Medical Expenditure of Parents(one of them is a senior citizen)) Total-50000/-. Case 3 - Case1 - 50000 (Medical insurance or Medical expenditure of self & Family(atleast one of them is a senior citizen)) + 50000(Medical Insurance or Medical Expenditure of Parents(one of them is a senior citizen)) Total-100000/-.
6. Savings under 80DD
(info) Expenditure for the medical treatment (including nursing), training and rehabilitation of a dependant, being a person with disability; deduction of a sum of Rs 75,000/-, However, where such dependant is a person with severe disability, an amount Rs 1,25,000/- shall be allowed as deduction
7. Savings under 80DDB
(info) Section 80DDB allows a deduction in case of employee, who is resident in India, during the previous year, of any amount actually paid for the medical treatment of such disease or ailment as may be specified in the rules 11DD (1) for himself or a dependant. The deduction allowed is equal to the amount actually paid is in respect of the employee or his dependant or Rs. 40,000 whichever is less. Further in case of the person against whom such claim is made is a senior citizen (60 age years or more) then the deduction up to one lakh rupees is allowed
8. Savings under 80E
(info) Section 80E allows deduction in respect of payment of interest on loan taken from any financial institution or any approved charitable institution for higher education for the purpose of pursuing his higher education or for the purpose of higher education of his spouse or his children or the student for whom he is the legal guardian. The deduction shall be allowed in computing the total income for the Financial year in which the employee starts paying the interest on the loan taken and immediately succeeding seven Financial years or until the Financial year in which the interest is paid in full by the employee, whichever is earlier.
9. Savings under 80EE
(info) Section 80EE allows income tax benefits on the interest portion of the house property loan availed from any financial institution. The deduction allowed under this section is for the interest paid on a home loan for up to a maximum of Rs 50,000 per financial year. You can continue to claim this deduction until you have fully repaid the loan.
10. Savings under 80TTA
(info) Section 80TTA introduced from the Financial Year 2012-13 allows to an employee, not being a senior citizen employee, from his gross total income if it includes any income by way of interest on deposits (not being time deposits) in a savings account, a deduction amounting to: (i) in a case where the amount of such income does not exceed in the aggregate ten thousand rupees, the whole of such amount.
11. Savings under 80U
(info) Deductions in respect of a person with disability (section 80U): For a person with disability, there shall be allowed a deduction of a sum of Rs 75,000/-. However, where such individual is a person with severe disability, a higher deduction of Rs 1,25,000/- shall be allowable.