http://www.irf.net/zakaat_caculator/

I wonder if the Zakat is calculated on the Nisab-e-Zakat only or it is calculated on all the possessions and property including those in personal use?

For example a person has 400,000 worth in personal use. Zakat is not payable on assets under personal use (other than assets for generating income or earning). And if the Nisab-e-Zakat that person owns is 500,000 which is in addition to the assets under personal use, than would Zakat be payable only on 500,000 or 500,000 + 400,000 = 900,000.

__________________
Success is not granted, it is earned.

Suppose I have 10 tola gold. I calculated its value with today's rate which comes out to be Rs. 400,000/-. I then calculated zakat on it and it comes out to be Rs. 10,000/-.

Now my question is that should I have Rs. 400,000/- in my bank account as well to pay zakat???????

as per your question zakat will be calculated from 500,000 (provided the assets under personal use don't include gold or silver or money in purse, and also that none of the thing was bought for purpose of business e.g. an apartment was bought for reselling but now due to one reason or other it is being used for residential purpose by the same person who bought it *in such a case consult a Mufti who may guide with authority*)
Hope you get what i want to say, in any case if doubt persists, one must question without any shame and better to consult a reliable person such as a Mufti or aalim.

no, gold is itself a property which does not needs any other thing to make it necessary to pay zakat (provided it reaches nisaab), if there is other property as well calculate the sum and pay, but if there is nothing else, then either pay from gold directly or sell some of the gold and then pay zakat

better to consult a reliable authority