Tax Calculator -OLD and NEW FY 23-24.XLSX

	A	B	C	D	E	F	G	H	I	J	K	L	N	O	P	Q	R	S
1	COMPUTATION OF TOTAL INCOME, TAXPAYABLE AND TDS THEREON: F.Y.2023-24 (OLD)
2	Emp.Name	XYZ					Desi	TEACHER		Institute		ABC
3	MONTH YEAR			Monthly Salary	UPD Arriars	7 Th Pay Arriars	DA Arriars	Time of Retirement				Other Income-LTC,etc	TOTAL INCOME	Deduction			TOTAL DEDUCTION	NET PAY
4	MONTH YEAR			Monthly Salary	UPD Arriars	7 Th Pay Arriars	DA Arriars	Gratuity	Commuted Pension	Leave Encashment	GPF Final withdwal	Other Income-LTC,etc	TOTAL INCOME	G.P.F. / C.P.F.	PROF.TAX	OTHER	TOTAL DEDUCTION	NET PAY
5	Mar-23			74840	0	0	0	0	0	0	0		74840	1000	200		1200	73640
6	Apr-23			74840	0	0	0	0	0	0	0		74840	1000	200		1200	73640
7	May-23			74840	0	0	0	0	0	0	0		74840	1000	200		1200	73640
8	Jun-23			79000	0	0	11093	0	0	0	0		90093	1000	200		1200	88893
9	Jul-23			81400	0	26032	0	0	0	0	0		107432	1000	200		1200	106232
10	Aug-23			81400	0	0	10400	0	0	0	0	0	91800	1000	200		1200	90600
11	Sep-23			81400	0	0	0	0	0	0	0		81400	1000	200		1200	80200
12	Oct-23			81400	0	26032	11787	0	0	0	0		119219	1000	200		1200	118019
13	Nov-23			81400	0	0	0	0	0	0	0		81400	1000	200		1200	80200
14	Dec-23			81400	0	0	0	0	0	0	0		81400	1000	200		1200	80200
15	Jan-24			81400	0	0	0	0	0	0	0		81400	1000	200		1200	80200
16	Feb-24			81400	0	0	0	0	0	0	0		81400	1000	200		1200	80200
17	TOTAL ANNUAL INCOME			954720	0	52064	33280	0	0	0	0	0	1040064	12000	2400	0	14400	1025664
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19	Note:	You have to fill Data in the white cell only
20		This sheet is for all up to 60 yrs aged tax payer employee
21		This sheet can be use whose increment due on the january or july
22		Monthly salary means received all allowances with basic pay.
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24	COMPUTATION OF TOTAL INCOME, TAXPAYABLE AND TDS THEREON: F.Y.2023-24 (OLD)
25	Emp.Name	XYZ					Desi	TEACHER		Institute		ABC
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27	INCOME OF SALARY					1040064							Detailed Notes
28	Bank Interest ( S.A.)					11500						S.A.-saving account
29	N.S.C. / Fix Depo. Interest					0						LIP- life insurance Policy
30	L.I.P.maturity Received Amt.					0						N.P.S.-National Pension Scheme
31	Interest of N.P.S.investment					0			Interest Amt.of morethen 2.5 lakh Rs.investment in NPS
32	Contri.of Employer In N.P.S.					0			Amount of contribution of Employer in N.P.S. as an income
33	Other Income					0								Old TAX Slab FY 23-24
34	TOTAL GROSS INCOME					1051564								50000/		Standered Deduction
35	STANDARD DED 16( ia)					50000			FIX					250000/			Nill
36	Profession Tax 16(3)					2400			Yearly deducted					2.5 TO 5			5%
37	Leave Travel Concession 16(5)					0			100%					5 TO 10			20%
38	REBAT 24(2)-Housing Loan Int.					190000			UP TO 200000					10 TO Above			30%
39	REBAT - U/S - 80C,80 CC,80 CCD(1)					150000			UP TO 150000
40	REBAT -U/S- 80D Mediclame					25000			UP TO 25000
41	Contri.of Employer In N.P.S.					0			100% u/s 80 ccd(2)					U/S 80 - GPF,CPF,PPF,LIC,PLI
42	Contri.of Emp. by self In N.P.S.					0			UP to 50000 U/S CCD(1B)					Gins,NSC,HBLP,Tution fee,etc
43	Educational Loan Int. U/S-80E					0			100%
44	Handicaped Employee U/S-80 U					0			***					*** - > 40% Rs.75000/
45	REBAT-80TTA- Bank Interest S.A/C					10000			UP TO 10000					*** - > 80% Rs.125000/
46	Donation U/S-80 G					0			+++					+++Allow for 50% of doneted amt.
47	Ele.Vehicle Loan Int.-U/S-80EEB					0			UP TO 150000					+++ > 2000 Rs recognized only
48	L.I.P.maturity Rec.Amt.U/S10(10D)					0			100%					by cheque or draft
49	Gratuity Amt. U/S - 10(10)					0			100%					LIP- Life Insurance Policy(LIC,PLI)
50	Comutation Amt.ofPension-10(10A)					0			100%
51	Leave Encash. Amt.-U/S- 10(10AA)					0			100%
52	GPF Final Withdrawal -U/S-10(12)					0			100%
53	Don. for Agnivir copars fund-80CCH					0			100%
54	TOTAL DEDUCTION					427400
55	TAXABLE INCOME					624164
56	TAX CALCULATION AS PER OLD TAX REGIME - F.Y 2023-24
57	Range Of Income									Taxable income Rs						Tax Rs.
58	From Rs 000000 to 250000 - 0%									250,000.00						NIL
59	From Rs 250001 to 500000 - 5%									250,000.00						12,500.00
60	From Rs 500001 to 1000000 - 20%									124,164.00						24,832.80
61	From Rs 1000001 to Above - 30%									NIL						NIL
62
63	TOTAL INCOME And TAX									624,164.00						37,332.80
64	To be Payable Tax Rs.					37333			Tax rebate u/s 87 A is up to Rs.12500/- (If Taxable income below Rs. 500000/ )
65	Education Cess 4%					1493			FINAL TAX TO BE PAY							38,826.11
66	DETAILS OF PAID TAX DURING F.Y. 2023-24 IN INSTITUTIONAL TAN A/C, A.Y.24-25
67	To be Paid Tax Yearly	PAID and Tobe Paid TDS UP TO MONTHS
68	To be Paid Tax Yearly	APR	MAY	JUNE	JULY	AUG	SEP	OCT	NOV	DEC	JAN	FEB	MAR	TOTAL
69	38826	3000	3000	3000	3000	3000	3000	3000	3000	3000				27000
70	This is to certify that the information given in this statement is true and mistakeless
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72	Date :
73	Place :					Sign of Emp.								Sign of Head
74	This is rough and ready calculation of TDS , I am not responsible for counting of exact tax of such employee,Please check
75	and follow out circulers of Income tax Department for details of such Tax.
76	Calculator Prepared By: R.P.Merja. Ex.Principal,Neknam HighSchool-Neknam,Dist:Morbi.
77	If any query You can contact me between 4 p.m. to 5 p.m.phone no.8128121500 updated Dec-2023
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