This is a very simple yet powerful way to keep track of all your income, investments, and tax liabilities over years. (India Only) This can be used to plan taxes for your current year as well as keep record of previous years.
Over the years, I have troubled to calculate and keep track of all my incomes, investments, expenses and wondered how much is my tax liability. This sheet has helped me to keep track of all these and also helped me figure out how can I save more taxes.
- Head over to this publicly available google sheet.
- Clone a copy for yourself:
File→Make a copy - Change the name, add the year for which you are making this sheet (e.g., Income-Tax 2020-21)
- Fill in data from your payslip, investment documents, rent slips etc.
- Modify the sheets to meet your needs, such as adding additional investments.
- Checkout the summary table to know how much tax did you pay for the year, or if this you are using it to plan your current year you can check how much can you save on with other options available.
Table Structure
Computation Summary
This is an initial draft and does not include everything that is available for tax-payers. If you feel there is something missing, feel free to raise an issue or mail me and I will modify the sheet. :)