How To Compute Net Taxable Income
| A. | Income From Salary | XXXXX | ||
| B. | Income From House Property | XXXXX | ||
| Less:Standard DeductionInterest u/s 24(1)(b) | XXXXXXXXXX | XXXXX | ||
| C. | Income From Business and Profession | XXXXX | ||
| D. | Income from Capital Gain | XXXXX | ||
| E. | Income From Other Sources | XXXXX | ||
| F. | Gross Total Income | XXXXX | ||
| G. | Less:Deduction U/s80C (LIP etc.)Other Deductions | XXXXXXXXXX | XXXXX | |
| H. | Net Annual Taxable Income in Rs. | XXXXX |
HERE TO CALCULATE YOUR TAX
Note: W.e.f AY 2013-14 Rebate u/s 87A of Rs.2,000/- or tax due which ever is less is allowed to individuals whose net taxable income is below Rs.5,00,000/-. You may compute net taxable income using following sheet before using Income Tax Calculator For A Y 2016-17:
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