Income Tax Calculator - A digital way to calculate income tax:

An income tax calculator is one of the simplest tools that is used to calculate the tax online. The computation of incomes tax is a daunting task. If you want to make this task easier for you then Tax calculation online is the easiest process when you have the expertise tools. So, the overall income tax calculator is an accurate, easy-to-use tool that has its own rules & steps to use.

As per the union budget 2020, a new tax regime has been introduced that illustrates how much you need to pay as the income tax from your salary. With the online corporate income tax calculator, you can understand the exact tax structure and how the updated regime affects the computation of income tax.

In this article on income tax calculator excel, we define what the income tax calculator is and how it would be advantageous to you. Now make the calculation easy with this handy and free-to-use income tax calculator. With the help do the calculator. you can get an accurate estimate of how much you need to pay as income tax from your income.

What is the income tax calculator for FY:

As an Indian citizen, you have certain duties that you need to perform. If you are an individual or a business entity, You need to pay income tax from your salary and your extra earnings. This is the mandatory thing for Indian citizens. Income tax is charged from the Indian citizens for the income they have earned in a given financial year.

This income tax depends on your salary and Your income earned in the form of salary. Another aspect of the computation of income is the calculation of exemptions and deductions. The online income tax calculator may be tough for some people although it has some amazing features that will help you in the following ways. Here is how to calculate income tax.

Online Income Tax Calculator:

  • Find the best tax regime: As per the Union budget 2020, the ministry of finance gives a unique and surprising chance to the citizens of India. Citizens have the freedom to choose between the new and old tax regimes, and you can choose something that is better for you. The digital income tax calculator helps you to plan your taxes and get a maximum tax benefit. With this, you can check possible deductions and exemptions for calculating income tax online. You can save a lot of money this way.
  • Input basic details for stress-free income tax computation: This income tax calculator uses basic but important information that helps to calculate the tax online. With this application, you can keep information pertaining to rent amounts paid, annual salary, tuition/school expenses, premiums paid, any interest paid on education loans, and any savings too. By entering your basic requirement, you can understand your total tax liability and calculate income tax online in no time.
  • Save your time and energy: With this online income tax calculator new regime, you can get amazing tax computation. It works as a life savior for many people. As per the new rules and regulations, the online income tax calculator not only allows to pay tax either following the old or the new regime. It is up to the individual which one he or she wants to opt for.. The online income tax calculator is the tool that helps to compute the total liability of the tax in the old as well as new tax regimes. The whole process is quick and straightforward too.
  • Online free income tax calculator: This online free income tax calculator is available free at all. With this calculator, you can calculate the income tax from your salary, deduction and exemption of tax computation, and computation of total income. One does not have to calculate it manually by using formulae as this calculate does that automatically for its users. It suggests the total payable amount as per the basis of old and new tax regimes. Overall, it’s a convenient tool by which you can calculate the tax liability with just a few buttons.

How do I calculate income tax from salary?

After being thorough with the benefits, the question that arises in your mind is how to calculate the income tax from salary. So, you can calculate the income tax from salary based on the new and old regime. As per the old regime, the income tax computation would take into account the exemption and education along with the gross income.

This rule is claimed under section 80C of the Income Tax Act of 1961. The income tax computation process is a little bulky, so if you want to make it easy, then this is the only platform that can help you. In the new regime, the process of calculating income tax is the same as the old regime. A lot of companies and people use difficult math formulas to compute the income tax from salary. However, this is a frustrating task that consumes more time. This is the reason why individuals and organizations rely on this tool. With this, you can do your job in no time.

Using the Income Tax Calculator:

To use the income tax calculator, you need to follow certain rules:

  • At first, you need to Choose the financial year for which you want to calculate your income tax.
  • Now select your age from the different age groups options provided.
  • Press on the visit to the next section
  • Now you have to enter the taxable salary. The taxable salary is the salary that comes after deducting the exemptions such as LTA, HRA, standard deduction, and so on. You can also write the gross salary.
  • Here you need to give the other details along with the taxable salary that are interest income, interest paid on a rental home loan, rental income, and interest paid on loan for self-occupied property.
  • Proceed further by clicking ‘next’.
  • If you want to calculate income tax as per the old slab, enter your tx saving investment under the old slab section like 80C, 80D, 80G, 80E, and 80TTA.
  • Now press the calculate button, and then you will be able to see the difference between the Pre-budget and post-budget tax liability.

Summary: Are you phasing the problem to calculate income tax then you can check the process of using an online tax calculator and make the tax computation quickly.

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Comments 05

Himanshu Singh

Thanks sir for proving about Income Tax Calculator.

Ankita Sharma

good

Anuj Mishra

Nice

Alok Verma

samgh gya

Alok Kumar

esi site se mil jayega tumhare name aur dob se