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Income Details Enter the Gross Salary / Pension for each month: (includes Basic Pay, DA, HRA, Interim Relief, OT Allowance, Deputation Allowance, Medical Allowance, etc.)
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Health and Education Cess: 4% of income tax. Surcharge: 10%...
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Income Tax Calculator for 2023-24. For Saving and Retrieving...
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By this time, since our inception, we were able to provide you some services in the form of - Model test for departmental test; Preparation of income tax statement; Preparation of forms and schedules for GPF - TA, NRA, Conversion; Promotion chances (only for statistics staff) etc.
- Step 1: Calculate Your Gross Taxable Income
- Step 2: Calculate The Total Tax Benefits
- Step 3: Calculate The Net Taxable Income
- Step 4: Calculate Your Total Tax Liability
To calculate your gross taxable income, you need to compute your net salary after subtracting your deductions, such as HRA, LTA, and standard deduction, from your gross salary. Now, you need to add the net salary with other income from different sources, such as interest income, capital gains from investments, and rental income, to come to your gro...
If you have made any tax-saving investments or are eligible for any exemptions, you need to compute the total benefits. You can cut your taxable earnings by investing in tax saving options such as Equity Linked Savings Scheme (ELSS), and Public Provident Fund (PPF), available under section 80C of the Indian Income Tax. Total tax benefits =Investmen...
In this third step, you need to calculate the net taxable income. You can easily subtract the total tax benefits from the gross taxable income. Net taxable income =Gross taxable income – net taxable income
If your total taxable income is less than ₹5 lakhs, you will get a rebate of ₹12,500 under section 87A. For individuals whose total taxable income is above ₹5 lakhs, the tax rate discussed earlier would apply. If you are going for the new tax regime, the various deductions/exemptions such as HRA, and LTA would be taxable. In addition, you can’t ava...
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.
Income Tax Calculator 2024-25: New Tax Slabs 2024. 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.
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. It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc. . .
