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Archives for February 2018

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Income Tax Calculator Pre Post Budget 2018

February 9, 2018 by Admin

Income Tax Calculator Pre Post Budget 2018

Income Tax Calculator for AY 2018-19 and AY 2019-20

Income Tax Calculator Pre Post Budget 2018
Age Category
Gross Income
Description AY 2018-19 AY 2019-20
Taxable Income
Standard Deduction ---
Transport Allowance ---
Taxable Income
0% () --- ---
5% ()
10% ()
20% ()
30% ()
Tax on Income
Rebate U/S87A
Tax on net Income
Surcharge
Educational Cess 4%
Total Tax Payable
Impact on Tax

Filed Under: Income Tax Calculators Tagged With: Income Tax, Income Tax Calculators, Income Tax Pre Post Budget Calculator

Income Tax Calculator AY 2019-20

February 4, 2018 by Admin

Income Tax Calculator AY 2019-20

Simple calculator to find out your income tax from your gross income for the next financial year 2018-19.

There is no change in tax rates. Only change in Health & Educational Cess 4% instead of 3%. We assume in this calculator deduction of 1.5 lakh under Section 80C.

And enter the income from the salary after deduct the Standard deduction of 40000.

Income Tax Calculation Details
Age Category
Income from Salary (After Standard Deduction of Rs.40000)
Description AY 2019-20
Gross Income
80C Deduction
Taxable Income
0% () ---
5% ()
10% ()
20% ()
30% ()
Tax on Income
Rebate U/S87A
Tax on net Income
Surcharge
Educational Cess 4%
Total Tax Payable

Try our other IT Calculators…

Income Tax Calculator Pre – Post Budget 2017

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Income Tax Calculators(Form 16) for Government Employees

Filed Under: Income Tax Calculators Tagged With: Income Tax Calculators

7th CPC AICPIN Table

February 3, 2018 by Admin

7th CPC AICPIN Table

AICPIN
JANUARY 2016 269
FEBRUARY 2016 267
MARCH 2016 268
APRIL 2016 271
MAY 2016 275
JUNE 2016 277
JULY 2016 280
AUGUST 2016 278
SEPTEMBER 2016 277
OCTOBER 2016 278
NOVEMBER 2016 277
DECEMBER 2016 275
AICPIN
JANUARY 2017 274
FEBRUARY 2017 274
MARCH 2017 275
APRIL 2017 277
MAY 2017 278
JUNE 2017 280
JULY 2017 285
AUGUST 2017 285
SEPTEMBER 2017 285
OCTOBER 2017 287
NOVEMBER 2017 288
DECEMBER 2017 286

Filed Under: DA Calculators Tagged With: 7th CPC AICPIN, DA Calculator

Dearness Allowance Chart

February 3, 2018 by Admin

Dearness Allowance Chart

Month
Year
CPI(IW)
BY 2001=100
12 Months
Total
12 Months
Average
Increased Over 261.42 DA %
Jan-16 269 3152 262.67 0.48  
Feb-16 267 3166 263.33 0.92  
Mar-16 268 3180 265.00 1.37  
Apr-16 271 3195 266.25 1.85  
May-16 275 3212 267.67 2.39  
Jun-16 277 3228 269.00 2.90 2
Jul-16 280 3245 270.42 3.44  
Aug-16 278 3259 271.58 3.89  
Sep-16 277 3270 272.05 4.24  
Oct-16 278 3279 273.25 4.53  
Nov-16 277 3286 273.83 4.75  
Dec-16 275 3292 274.33 4.94 4
Jan-17 274 3297 274.75 5.10  
Feb-17 274 3304 275.33 5.33  
Mar-17 275 3311 275.92 5.55  
Apr-17 277 3317 276.41 5.74  
May-17 278 3320 276.66 5.84  
Jun-17 280 3323 276.91 5.93 5
Jul-17 285 3328 277.33 6.10  
Aug-17          
Sep-17          
Oct-17          
Nov-17          
Dec-17          

Filed Under: DA Calculators Tagged With: DA Calculator, Dearness Allowance Chart

How to calculate Dearness Allowance for CG Employees

February 3, 2018 by Admin

How to calculate 7th CPC Dearness Allowance for Central Government Employees

Dearness Allowance is granted to compensate the price hike above 261.4 Points(Base Year 2001=100), to which the revised pay scales relate.

This will be sanctioned twice a year, payable from first January and first July, reckoned on the following basis…

(i) The twelve monthly average price index above 261.4 Points is determined twice in a year for the period ending December and June.

(ii) The percentage increase is taken in whole number only and the fraction ignored.

(iii) Neutralization will be 100% uniformly for all employees.

Calculation of Dearness Allowance:-

(a) Dearness Allowance is paid on the Basic Pay as defined in FR 9(21)(a)(i)+NPA, if any (Personal Pay, Special Pay, etc., not included).

(b) Fractions of 50 paisa and above to be rounded off to the next higher rupee and less than 50 paisa ignored.

(c) For part of a month, rate of Dearness Allowance to be applied on the rate of pay+NPA and then Dearness Allowance for the number of days calculated.

(d) In the case of daily-rated worker, monthly pay reckoned at 26 times his basic daily wages. Hence for part of a month, calculation of Dearness Allowance will be on Monthly pay + 26 x Number of days.

Filed Under: DA Calculators Tagged With: DA Calculator

How to calculate the Income Tax exemption on House Rent Allowance?

February 3, 2018 by Admin

How to calculate the Income Tax exemption on House Rent Allowance?

House Rent Allowance on Income Tax :-

How to calculate the Income Tax exemption on House Rent Allowance…

If an employee is living in a rented house, exemption is allowed to the extent of the least of the following…

Actual House Rent Allowance received from your employer

Actual House Rent paid excess of 10% of salary

50% of basic salary, if residence is in a metro or 40% of salary in non-metros.

For example :
If an employee is getting basic pay of Rs.15,000 pm, and HRA is 4,500. He is paying rent as Rs.2,500 calculation of amount of House Rent Allowance admissible for income tax exemption will be…

1. HRA received (12 x 4,500 = 54,000) : 54,000
2. Rent paid in excess of 10% (30,000 – 18,000) : 12,000
3. 50% of salary : 90,000

Out of the total of House Rent Allowance of Rs.54,000 received, Rs.12,000 which is the lease of the three items is admissible for income tax exemption. So the balance of Rs.42,000 will be include under income.

Filed Under: HRA Calculators Tagged With: 7th CPC HRA Calculator, House Rent Allowance Calculators, HRA Calculators

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