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What is the Income Tax Calculator? The Income tax calculator is an easy-to-use online tool that helps you calculate your tax liability based on your income details. It also gives you a comparison of tax liability between the old and new tax regimes to help you decide which is more beneficial for you.
The Income and Tax Calculator service enables both registered and unregistered e-Filing users to calculate tax as per the provisions of Income Tax Act, Income-tax rules, Notifications etc. by providing inputs with respect to income (s) earned and deductions claimed as per the Act.
Disclaimer: The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances.
Calculate the tax on your income in India in a few simple steps through online income tax calculator. Also check tax slabs, tax regimes, and how to calculate tax with examples.
- Tax payable on salary is based on your total taxable income after all the deductions and exemptions, the income tax slab you belong to, and the tax...
- Typically the last date for filing an income tax return is 31st July after the end of the financial year. But it may be further extended as per the...
- Exemptions are a part of your income on which tax is not applicable. For example, a part of your LTA (Leave travel allowance) is considered an exem...
- The major tax provisions introduced in the Budget 2022 are shown below: Taxpayers can file the updated return within two years from the last assess...
- Under the new tax regime, all deductions under Chapter VIA such as 80C, 80CCC, 80CCD, 80D, 80DD, 80DDB, 80E, 80G, 80GG, 80GGA, 80GGC, are not avail...
- Under the new tax regime, individuals can not claim popular deductions such as PPF, ELSS, insurance, etc. However, the slab rates are different. He...
- Yes, the new tax regime is optional. You can opt for the new or old tax regime at the beginning of a financial year and cannot change it till the n...
- Information required at the time of e-filling are as follows: Basic details such as PAN number, Adhar number, and Address Details of income earned...
- If the taxable income of the individual exceeds the basic exemption limit of Rs.2.5 lakh in a financial year, then it is mandatory to file the inco...
- The maximum non-taxable income limit is Rs 2.5 lakh. If your total taxable income is below Rs 2.5 lakh, then you are not required to pay any tax. I...
Income Tax Calculator is a useful tool to determine tax liability with respect to income tax slabs and deductions available. Use online income tax calculator available at Groww to calculate your tax easily.
- The tax will be levied based on the income slab you belong to. You can refer to the income tax slabs and rates table given in the article to get mo...
- The salary income is comprised of the Basic salary + HRA + Special Allowance + Transport Allowance + any other allowance. Some of the components of...
- No, if your income is below the basic exemption limit then you are not required to file income tax returns. However, those with an income less than...
- The following details are needed during the e-filing of the income tax returns PAN no., Aadhar Card details, and current address. All the bank acco...
Online calculate Income Tax based on declared Union Budget 2024 at The Economic Times. Check how to calculate Income Tax, know tax slabs 2024-25 online for easy calculation.
Jul 23, 2024 · Calculate income tax for an individual or HUF based on the given total income and deductions. Applicable for last five years, FY 2024-25, FY 2023-24, FY 2022-23, FY 2022-21, FY 2020-21. Use for Tax Computation, IT or Investment Declaration with your employer. Updated with latest tax rates from Budget 2024.
