Income Tax Calculator:

An income tax calculator is the simplest tool that is used to calculate the tax online. The computation of incomes tax is a daunting task. Do you want to make this task easier for you? 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 shares 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 should benefit you. Now make the calculation easy with this handy and free-to-use income tax calculator. Get an accurate estimate of how much you owe as income tax from salary and other incomes.

What is the income tax calculator for FY:

As an Indian citizen, you have certain rights that you need to fulfill. Well, 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 that you need to fulfill. 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. But wait, this calculator 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. They allow you 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.
  • 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 inputting this 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 as per the old regime but also in the new regime. 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. There is nothing to worry about the formulas and all because this tax calculator does all it for you. It suggests the total payable amount as per the basis of old and new tax regimes. Overall, it’s a convenient tool from which you can calculate the tax liability with just a few buttons.

How do I calculate income tax from salary?

So, after going through 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 use this tool. With this, you can do your job within minutes.

How to use 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.
  • Now select your age from the different age groups option.
  • 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.
  • Press the move to the next button.
  • 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 now you are able to see the difference between the Pre-budget and post-budget tax liability.

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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