The income tax calculator , simple and detailed calculation from Income Tax from AY 2010-11 can be found at website www.incometaxindia.gov.in
Income Tax Calculator calculates tax based on Assessment Year, Tax payer category(Individual, LLP), Type(Male/Female/Senior Citizen), Resident,Net Taxable income. It calculates Income Tax,surcharge,Cess,Total tax liability.
Income and Tax Calculator is detailed one where one can input tax based on kind of income (income from salary, Short Term capital gain),Deductions from Gross Total Income and calculate total tax liability.
To know more about income tax calculations read our following articles.
- Income Tax Overview
- Understanding Income Tax Slabs,Tax Slabs History
- Industry Super Australian income tax calculator
- Income Tax articles
8 responses to “Income Tax Calculator”
Some people find it hard to computer their income tax sot his calculator comes handy. This is very helpful to compute our tax. Off my hat to the creator of this calculator. You really help us a lot and saves us headaches from computing manually.
A really helpful article. If you are earning it is very important that you perform tax planning the right way. One of the most important parts of this particular process is to understand how income tax gets calculated. In India taxes are levied on the basis of how much an individual earns. The national government levies these taxes. It has devised a system whereby the process can be done in a fair way. Normally, the more you earn, the more taxes you have to pay. In the 2019-20 union budget, it was decided that people with a taxable income of up to INR 5 lakh a year would not have to pay any tax on their income. Thanks for the informative article.
An informative article nevertheless. Just had one question though, I’ve sold my house recently, Is there any way to avoid tax on capital gains? Would be a real help if you share your ideas and knowledge on this.
Saving Long Term Capital Gain: If there are any long-term capital gains, one may have to either
pay tax on it at the rate of 20% or
Buy a new property
either 1 year before the sale OR
2 years after the sale of the property/asset OR
The new residential house property must be constructed within 3 years of the sale of the property.
Save capital gains tax by buying specified bonds u/s 54EC
Our article Overview of Capital Gain Tax on Sale of House or Property explains it in detail.
Hi sir my salary is less then Rs.250000 still tax deduction of rs 50226 is showing in my salary slip and for the same i asked to my comanies payroll team they are saying that 20% of ctc has been deducted because pan no is not updated in the company tool, plz help me for the same
Please tell me about pre constracted period
I already have a TDS deducted (tax on deducted on salary by company + tax deducted on FD interest by Bank). However I still have some outstanding tax payable. However, when I calculate Tax when filing ITR-2, I get one Tax payable, vs. when I check on other available online calculators, I get a different Tax payable amount.
Why is different Tax payable amounts seen across different tax calculators, including the ITR-2 form itself. What could be the reason?
How do I resolve this? Which is the correct amount?
Thanks,
Ritg
Very useful calculator. Thankyou.
I even found many relevant calculators at finmart.com