Income tax calculation
- Compute your total income by adding all sources – salary, income from business/profession, rental income, capital gains etc.
- Remove incomes that are exempted from income tax calculation under law.
- Claim applicable deductions, for e.g., standard deduction.
- Claim all applicable deductions under Section 80 of the Income Tax Act.
- The result will be your taxable income. Income tax shall be calculated on taxable income as per the applicable tax slab.
* Income Tax Calculator an help compute income tax based upon your income.
* Tax Savings Calculator will help you maximise your tax savings.