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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