https://www.commerceangadi.

com/ Income Tax calculator FY 2022-23 (AY 2023-24)

Fill data only in Light Green Cell (this colour)
Name Ankush Singh Metro
PAN BZMPS51233E Non-Metro
Date of Birth 02/May/86 Age (Years) 36 Normal Citizen Delhi, Mumbai, Chennai &
Year Ends 31/Mar/23 Kolkatta are considered
Living City Non-Metro << Select from list as metro cities.

Apr/22 May/22 Jun/22 Jul/22 Aug/22 Sep/22 Oct/22 Nov/22 Dec/22 Jan/23 Feb/23 Mar/23 Total
Basic + DA 32,016 32,016 32,016 32,016 32,016 32,016 33,684 33,684 33,684 33,684 33,684 33,684 394,200
House Rent Allowance 32,016 32,016 32,016 32,016 32,016 32,016 33,684 33,684 33,684 33,684 33,684 33,684 394,200
Special Allowance 10,678 10,678 10,678 10,678 10,678 10,678 8,374 8,374 8,374 8,374 8,374 8,374 114,312
LTA 1,620 1,620 1,620 1,620 1,620 1,620 9,720
Bonus 2,669 2,669 2,669 2,669 2,669 2,669 - - - - - - 16,014
Other taxable allowances (Enter the componenet here) - - - - - - - - - - - - -
Other taxable allowances (Enter the componenet here) - - - - - - - - - - - - -
Other taxable allowances (Enter the componenet here) - - - - - - - - - - - - -
Pension Income >>>>> - - - - - - - - - - - - -
Gross Salary 77,379 77,379 77,379 77,379 77,379 77,379 77,362 77,362 77,362 77,362 77,362 77,362 928,446
Provident Fund 3,842 3,842 3,842 3,842 3,842 3,842 4,042 4,042 4,042 4,042 4,042 4,042 47,304
VPF - - - - - - - - - - - - -
Profession Tax 200 200 200 200 200 200 200 200 200 200 200 200 2,400
TDS Deducted - - - - - - - - - - - - -
Any Other Deductions (Enter the componenet here) - - - - - - - - - - - - -
Any Other Deductions (Enter the componenet here) - - - - - - - - - - - - -
Total Deductions 4,042 4,042 4,042 4,042 4,042 4,042 4,242 4,242 4,242 4,242 4,242 4,242 49,704
Net Salary received 73,337 73,337 73,337 73,337 73,337 73,337 73,120 73,120 73,120 73,120 73,120 73,120 878,742

Rent Paid 8,300 8,300 8,300 8,300 8,300 8,300 8,300 8,300 8,300 8,300 8,300 8,300 99,600

Computation of Income FY 2022-23 (Alternate 1 as per old regime)

(I) Income From Salary

Gross Salary 928,446
Less HRA
HRA Received 394,200
40% or 50% of Basic 157,680
Rent Paid > 10% of Salary. 60,180
HRA Exemption 60,180 60,180

Less : Exempted allowances as per Form 16 (Enter the componenet here) -

Less : Exempted allowances as per Form 16 (Enter the componenet here) -
Less : Exempted allowances as per Form 16 (Enter the componenet here) - (60,180)
Taxable Salary 868,266
Less : Standard Deduction (50,000)
Less : Professional Tax (2,400)
Income taxable under the head Salaries 815,866 815,866

(II) Income from House Property

(A) Self occupied property (Loss) Property 1 Property 2
Interest on loan / Borrowing taken for Repairs, renewal, or reconstruction 29,764 - 29,764
Interest on loan / Borrowing taken for Construction / Acquisition,
Before 1/4/99 - - -
After 1/4/99 & completed after 5 years from the end of FY of borrowing - - -
After 1/4/99 & completed within 5 years from the end of FY of borrowing - - -
Maximum Allowable (29,764) Please Support / Donate for Development and Maintenance
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(B) Let out property (Enter name of Property)
Rent of the property for the year -
Less : Municipal Taxes paid in the year -
Net Annual Value -
Less : Standard Deduction -
Less : Interest on Housing Loan
Net Income / (Loss) from this House - -

(C) Let out property (Enter name of Property)

Rent of the property for the year -
Less : Municipal Taxes paid in the year -
Net Annual Value -
Less : Standard Deduction -
Less : Interest on Housing Loan -
Net Income / (Loss) from this House - -
Income from HP before set off of carry forward loss from HP (29,764)

Current Year Income / (Loss) from House Property (29,764)

Less : Carry Forward Loss of House Property from earlier Years : - -

Brought forward of House Property Loss of Current Year -

Brought forward of House Property Loss of Earlier Years -
Income taxable under the head House Property (29,764) (29,764)

(III) Income from Other Sources

Bank interest (SB account) -
Bank Interest (Term Deposit) -
NSC Interest for the year -
Post office deopsit -
Dividend -
Other income taxable under this head (Enter the componenet here) -
Other income taxable under this head (Enter the componenet here) -
Other income taxable under this head (Enter the componenet here) -
Other income taxable under this head (Enter the componenet here) -
Income taxable under the head Other Sources - -

Gross Total Income 786,102

Less : Deduction under chapter VI A

Section 80 C
Life insurance 13,011
Provident Fund 47,304
Public Provident Fund -
NSC investment + Accrued interest -
Housing loan principal repayment 7,612
Sukanya Samriddhi Account -
Tuition fees for 2 children 35,000
Tax Saving Fixed deposit in Bank (5 years) -
Tax Saving Bonds -
E.L.S.S (Tax Saving Mutual Fund) -

Section 80 CCC
Pension Plan from Insurance Companies/Mutual Funds (u/s 80CCC) -

Section 80 CCD
Contribution to NPS notified by the Central Government -
102,927 (102,927)

Less: Additional Deduction under Sec 80CCD NPS (Max. ₹ 50,000/-) - -

80D - Mediclaim Insurance (Self & dependent) -

80D - Mediclaim Insurance (Parents) - -
80E - Interest on education loan - -
80EE - Interest on Home Loan as per conditions mentioned therein - -
80DD - Medical Treatment of handicapped Dependent - - 40% to 79% Claiming 80U?
80DDB - 80DDB Expenditure on Selected Medical Treatment 16,914 16,914 >> Select Disabili Claiming 80U?
80G, 80GGA, 80GGC Donation to approved funds - - Less than 40% Yes
80GG For Rent to an Individual, not receiving HRA (File Form 10BA) - - 40% to 79% No
80TTA - SB interest received by Normal Citizen - - 80% & more
80TTB - Interest on SB Act. & deposits received by Sr. & very Sr. Citizen - -
80U - Physically Disable Assesse -
Any other section (Enter the componenet here) - -
Any other section (Enter the componenet here) - - (16,914)

Total Deductions (119,841) (119,841)

Total Taxable Income 666,261

Tax Payable 45,752

Less : Rebate u/s 87A -
Tax Payable after rebate 45,752
Add : Surcharge -
Add : Education + Health Cess 1,830
Total Tax Liability 47,582 Tax Option 1
Less : TDS from Salary -
Less : TDS from Bank on Interest -
Less : TDS (Enter the Deductor details) -
Less : TDS (Enter the Deductor details) - -
Tax Payable / (Refundable) 47,582
 Computation of Income FY 2022-23 (Alternate 2 as per New\ regime)

Income from Salary 928,446

Income from House property -
Income from Other Sources -
Less Decuctions
Additional Deduction under Sec 80CCD NPS (Max. ₹ 50,000/-) -
Total Taxable Income 928,446

Tax Payable 64,267

Less : Rebate u/s 87A -
Tax Payable after rebate 64,267
Add : Surcharge -
Add : Education + Health Cess 2,571
Total Tax Liability 66,838 Tax Option 2
Less : TDS from Salary -
Less : TDS from Bank on Interest -
Less : TDS (Enter the Deductor details) -
Less : TDS (Enter the Deductor details) - -
Tax Payable / (Refundable) 66,838

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Terms of Usage : This calculator is made for non commercial use by Individuals. This is an initiative taken to help the common Assessee having income
under the head Salary, House Property & Other Sources.
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because this is having limited fields of input.