Easy Tax Tools

Income Tax Calculator

Step 1: Complete your basic details

Assessment Year

Tax Payer

Category

Residential Status

Step 2: Complete your income details

Income from Salary

+ Income from House Property

a) Income from Self Occupied House Property

Interest on Housing Loan

Current year interest

Income from Self-occupied House Property

b) Income from Let-out Property

1) Annual Letable Value/Rent Received or Receivable

2) Less: Municipal Taxes Paid During the Year

3) Less:Unrealized Rent

Net Annual Value (1-(2+3))

4) Less: Deductions from Net Annual Value

i) Standard Deduction @ 30% of Net Annual Value

ii) Interest on Housing Loan

ii) Interest Paid/Payable on Loan
during Pre-construction period (1/5)
b) Current year interest

Income from Let-out House Property

+ Capital Gains

+ Income from Other Sources

Profits and Gains of Business or Profession

Agricultural Income

Step 3: Complete your investment details

+ 80C Deduction for eligible tax investments / payments


Life Insurance premium paid
Payment for annuity plan
Contribution toward provident fund / PPF
Investment in NSC (VIII issue) + Interest
Contribution toward ULIP
Contribution toward notified pension fund by MF/UTI
Re-payment of housing loan etc.
Tuition fees paid for children
5 Years fixed deposit with PO or Schedule Bank
Contribution toward NPF
Employee's contribution toward NPS (up to 10%) (u/s 80CCD)
Employer's contribution toward NPS (up to 10%) (u/s 80CCD)
Long-term infrastructure bonds (u/s 80CCF)
Investment under equity saving scheme (u/s 80CCG)
Any other deductable (u/s 80C)
Total

Medi-claim premium (u/s 80D)

Donations (u/s 80G)

Deduction for maintenance / medical treatment of dependent (u/s 80DD)
Tick if 80DD is claimed
Tick if severe disability

Interest on loan for higher education (u/s 80E)

Interest on loan taken for Residential House (u/s 80EE)

Deduction in case of a person with disability (u/s 80U)
Tick if 80U is claimed
Tick if severe disability

Interest on deposits in saving account (u/s 80TTA)

Any other deductions

Total Eligible Deduction

Taxable Income

Income Liable to Tax at Normal Rate

Short Term Capital Gains (Covered u/s 111A) (15%)

Long Term Capital Gains (Charged to tax @ 20%)

Long Term Capital Gains (Charged to tax @ 10%)

Winnings from Lottery, Crossword Puzzles, etc. (30%)

Income Tax Payable

Surcharge

Education Cess @ 2%

Secondary and Higher Education Cess @ 1%

Total Tax Liability

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1) Short Term Capital Gains (Other than covered under section 111A)
2) Short Term Capital Gains (Covered under section 111A)
3) Long Term Capital Gains (Charged to tax @ 20%)
4) Long Term Capital Gains (Charged to tax @ 10%)


1) Interest
2) Dividend
2) Commission/Other Income
3) Winnings from Lottery, Crossword Puzzles, etc.