Income tax calculation for the Salaried
Income from salary is the sum of Basic salary + HRA + Special Allowance + Transport Allowance + any other allowance. Some components of your salary are exempt from tax, such as medical reimbursements, telephone bills reimbursement. If you receive HRA and live on rent, you can claim exemption on HRA.
For any tax paying individual, to have a working knowledge of how income tax is calculated can only make life simpler. It not only helps you assess the amount of tax you have to pay in a financial year but also gives you a clearer idea on how to save tax.
Here Is A income Tax Calculator In Excel Format For Gujarat Region Primary School Teacher. This Is Automated Calculator that will help you to Calculate your Income Tax For Financial Year 2016-17.
File Name : Income Tax Calculator
File Type : Excel 97-2000 workbook