What is your tax liability?
Income Tax Calculator enables the user to calculate tax in two ways – With Deductions
and Without Deductions. Simple form of calculator assumes that your Gross Income
is equal to the Taxable Income. Advance Tax calculator assumes that certain permissible
deductions/exemptions have been utilized to the full capacity and calculates taxable
income and tax amounts accordingly. The deductions/exemptions can be edited as well
to replicate you actual position.
The calculator also gives an insight of the proportion of income that is eaten up
as tax. Further, it also approximates the monthly TDS and savings of tax over previous
year income rules.
This Calculator takes into account Marginal tax Relief available on Surcharge on incomes exceeding Rs. 50 lakhs and Rs 1 crore.