TDS CValculation on Salary

I Have Attached TDS CValculation on Salary

INCOME TAX CALCULATOR FOR FINANCIAL YEAR 2011-12
DISCLAIMER : This calculator is to help you find out your personal indecative total tax liability. Efforts have been made to cover most of the scenarios of Income, Exemptions, Deductions, etc. However, you are advised to consult any qualified chartered accountant or tax consultant to know your actual Tax Liability.
Assessee Type
Enter either Male or  Female or  Sr.Citizen Male WORKING FOR CALCULATION OF TAX (change slabs here)
Components of Salary Annual Amount Percentage 10% 20% 30%
A.1 Basic Salary Rs711,440 Male 180000 500000 800000
A.2 DA Rs306,590 Female 190000 500000 800000
A.3 HRA Rs193,864 Sr.Citizen 250000 500000 800000
A.4 Transport Allowance Rs47,001
A.5 Medical Reimbursements Rs76,500 Sheet is unprotected for your research and further development, for further enquiries contact
A.6 Leave Travel Allowance (LTA) Rs0 ravi.exe@gmail.com 
A.7 Canteen Rs4,000 IF you don’t want to edit the formula just fill in the yellow shaded boxes
Every year change the slabs do minor corrections in formula and you have the IT calculator for that year
A.8 Other Allowances Rs0
A.9 Other Allowances Rs0
A.10 Other Allowances Rs0
Gross Salary (A) Rs1,339,395            
Exemptions/Deductions Maximim Limit Under Section Actual Amount Eligible Amount
B.1 House Rent Exemption Rs78,197 U/Sec 10(13A) Rs180,000 Rs78,197
Annual Rent Paid Rs180,000
Assessee Residing in M-Metro, NM-Non Metro M
50% of Salary (Basic+DA) Rs509,015
ii) Actual HRA Received Rs193,864
iii) Rent Paid minus 10% of Basic Salary Rs78,197
Total House Rent Exemption
B.2 Transport Allowance Rs9,600 Rs47,001 Rs9,600
B.3 Medical Reimbursement Rs15,000 Rs76,500 Rs15,000
Total   (B) Rs102,797
Gross Taxable Salary Income (A-B) Rs1,236,598
Income from Housing Rs0 Rs0
Reliefe on Interest paid on Housing Loan Rs150,000 U/S 24(1)(Vi) Rs33,103 Rs33,103
Any other Income Rs46,750 Rs46,750
Gross Total Income Rs1,250,245
Deduction under Chapter VIA
Under Section Actual Amount Maximim Limit Eligible Amount
The following tax saving investments may be considered for computation of income tax deduction at source for the financial year.
Deduction u/s 80D to 80U
C.1 Medical Insurance Premium – for the assessee or his family U/Sec 80D(2A) Rs9,265 Rs15,000 Rs9,265
C.2 Medical Insurance Premium – for the parent or parents of the assessee (if parents are Senior Citizen enter PSS, else nothing) 0 U/Sec 80D(2B) Rs9,236 Rs15,000 Rs9,236
C.3 Expenditure on Handicapped Dependents / Deposits made with LIC, etc.  for maintenance of handicapped Dependents
Disability Percentage of the Handicapped Dependents
if less than 80% enter L80, if more than 80% enter M80
L80 U/Sec 80DD Rs0 Rs50,000 Rs0
C.4 Exp. likely to be incurred on specified disease or ailment (Cancer/AIDS etc.)
Exp incurred on senior citizen No U/Sec 80DDB Rs0 Rs40,000 Rs0
C.5 Permanent Disability benefit (self) – adhoc amount of   (in case of disability
Self Disability Percentage
if less than 80% enter L80, if more than 80% enter M80
M80 U/Sec 80 U Rs0 Rs75,000 Rs0
C.6 Interest on Education Loan (for self education) from Charitiable or Financial Institution. (No Limit) U/Sec 80E Rs0 No Limit Rs0
Total Deduction u/s 80D to 80U Rs18,501
Investments under Sections 80C & 80CCC qualifying for deductions upto Rs.1 Lac or Rs.1.2 Lac
D.1 Self Contribution in Provident Fund. Assessee’s rate of PF contribution w.r.t Basic Salary is @ U/Sec 80C Rs122,164 12% Rs122,164
D.2 Voluntary Contribution Provident Fund U/Sec 80C Rs0 Rs0
D.3 INVESTMENT IN PENSION SCHEME U/Sec 80 CCC Rs0 Rs10,000 Rs0
D.4 HOUSING LOAN PRINCIPAL REPAYMENT U/Sec 80C Rs20,000 Rs20,000
D.5 PUBLIC PROVIDENT FUND (PPF) U/Sec 80C Rs10,000 Rs70,000 Rs10,000
D.6 LIFE INSURANCE PREMIUM PAID U/Sec 80C Rs30,000 Rs30,000
D.7 UNIT LINKED INSURANCE PLANS U/Sec 80C Rs0 Rs0
D.8 NSC-NATIONAL SAVING CERTIFICATE U/Sec 80C Rs0 Rs0
D.9 DEPOSIT IN NATIONAL SAVING SCHEME (NSS) U/Sec 80C Rs0 Rs0
D.10 INFRASTRUCTURE INVESTMENT in approved BONDS U/Sec 80CCF Rs0 Rs20,000 Rs0
D.11 MUTUAL FUNDS notified under SECTION 10(23D) U/Sec 80C Rs0 Rs0
D.12 EQUITY LINK SAVING SCHEME(ELSS) Mutual Funds notified under SECTION 10(23D) U/Sec 80C Rs0 Rs0
D.13 TERM DEPOSIT with a SCH.Bank in a notified Scheme for a term not less than 5 years. U/Sec 80C Rs0 Rs0
D.14 TUTION FEES PAID (Only full time education tution fees paid to any Indian Univ, College, School) U/Sec 80C Rs0
D.15 SENIOR CITIZENS SAVINGS SCHEME Rules, 2004 U/Sec 80C Rs0 Rs0
D.16 POST OFFICE TIME DEPOSIT Rules, 1981 for a term not less than 5 years U/Sec 80C Rs0 Rs0
Total Deduction u/s 80C and 80CCC Rs182,164 Rs100,000
Total Deduction under Chapter VIA Rs118,501
Deduction under Section 16 (ii) & 16 (iii)
ENTERTAINMENT ALLOWANCE (ONLY FOR GOVT EMPLOYEES) U/Sec 16(ii) Rs0 5000 Rs0
PROFESSIONAL TAX U/Sec 16(iii) Rs2,990 Rs2,990
Net Total Taxable Income Rs1,128,754
Tax on Total Income Rs190,626 ***
Add Surcharge Rs0
Add Education Cess Rs5,719
Total Tax Payable in respective of Financial Year 2011-2012 Rs196,345
NOTES
*** It is mandatory to make changes in formula every year if you are not able to understand the formula, get it changed from someone who knows, else it wont show the correct tax liability
ENTERTAINMENT ALLOWANCE (ONLY FOR GOVT EMPLOYEES) can also be used to calculate LTA exemption the same field can be used if you are a non govt employee, Change section and limits

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