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baljeet
11-11-2010, 05:07 PM
A new type of salary/pension/tax calculator


Sir/Ma'am, I have recently joined as junior member and I want to share a new calculator which I have designed on Excel file. It can show many figures on a single sheet and it is good for four category of taxpayers.
1- It shows every months salary or pension for full year with breakup figures.
2- Shows HRA as per class of cities allowing 10%,20%,30%as per class.
3- Allows permissible rent deduction if rent is being paid.
4- Shows permissible deduction for TA
5- Allows inclusion of income from house property.
6- Allows deductions under 80C and some others.
7- Calculates the tax and shows the amount in different tax slabs as well.
8- Allows agriculture income for rate purpose.
9- Shows how much amount can be still invested under 80C.
10- Shows how much tax can be saved if 80 C limit is not exhausted yet.
11- The calculator is for five categories of employees, male ,female, pensioners, senior citizen.
12- Shows enhanced pension if over 80 years.
13- Shows increment amount.
14- Show salary or pension increase with DA increase.
15- If reemployed after retirement , includes monthly consultancy for tax calculations.

IMPORTANT - There may be some inadvertent inaccuracy in this calculator due to my limited knowledge on Excel and income tax rules. I hope any inaccuracy will show if you compare my results with your salary slip and tax deductions.

ANYBODY CAN DOWNLOAD IT FROM MY SITE IF HAVING EXCEL PROGRAM.

https://sites.google.com/site/baljeetpage/

The above address is to be written in the address bar only.

Regards,
Baljeet Singh 11/11/2010