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How to use ClearTax Salary Calculator? Enter the yearly cost to the company or the CTC. Enter the bonus included in the CTC as a percentage or amount. Now fill out the Deduction (if any) like, Professional Tax, EPF contribution and Insurance. The ClearTax Salary Calculator will show you the performance bonus and the total gross pay.
- Tax Calculator
How to Use the Income Tax Calculator for FY 2024-25 (AY...
- Tax Calculator
The income tax calculator is an easy-to-use online tool which provides you with an estimation of the taxable income and tax payable once you provide the necessary details. The steps to use the tool are as given below -. Choose your age bracket. This determines your applicable tax slab rates. Enter your annual salary.
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. . .
Tax Calculator Comparison IT Calculator Financial Year 2022 - 23. Age Estimated Annual Income # ... Net Taxable Income as per New Regime.
- 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...
Step 1: Go to the e-Filing portal homepage. Step 2: Select Quick Links > Income and Tax Calculator. (Select the quick link in the image to show where is the calculator) (No access to UAT/SIT currently, will have to add it later) You will be taken to the Income and Tax Calculator page. There are two tabs – Basic Calculator and Advanced Calculator.
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How to Use the Income Tax Calculator for FY 2024-25 (AY 2025-26) and FY 2023-24 (AY 2024-25)? Following are the steps to use the tax calculator: Step 1: Choose the financial year for which you want your taxes to be calculated. Step 2: Select your age accordingly. Tax liability under the old regime differs based on the age groups.
