How to calculate income tax? (See example) You can even get your tax computation on your mail. Note: Whichever field is not applicable, you can enter "0". You will also be able to see a comparison of your pre-budget and post-budget tax liability (old tax slabs and new tax slabs).
Click on 'Calculate' to get your tax liability. In case, you want to calculate your taxes under the old tax slabs,you will have to enter your tax saving investments under section 80C, 80D, 80G, 80E and 80TTA.ĩ. For Income from Digital Assets, enter the net income ( Sale consideration less Cost of Acquisition), such income is taxed at 30% Plus applicable surcharge and cess.Ĩ. Along with taxable salary, you must enter other details such as interest income, rental income, interest paid on home loan for rented, and interest paid on loan for self occupied property.Ħ. (if you want to know your tax liability under the new tax slabs)ĥ. Or else, just enter your salary i.e salary without availing exemptions such as HRA, LTA, professional tax and so on. (if you want to know your tax liability under the old tax slabs)
salary after deducting various exemptions such as HRA, LTA and so on. Tax liability in India differs based on the age groups.Ĥ. Choose the financial year for which you want your taxes to be calculated.Ģ. We have updated our tool in line with the income tax changes proposed in the Union Budget 2023-24.(Read the highlights here) How to use the Income tax calculator for FY 2023-24 (AY 2024-25)? Following are the steps to use the tax calculator:ġ. The Income tax calculator is an easy-to-use online tool that helps you estimate your taxes based on your income after the Union Budget is presented.
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