Income Tax Calculator (India)

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Basic Information

Financial Year: Date of Birth: Tax Regime:

Income Sources

Income from Salary

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Basic Salary: Dearness Allowance (DA): House Rent Allowance (HRA) Received: Actual Rent Paid (if any): City Type for HRA:

HRA exemption will be calculated automatically.

Leave Travel Allowance (LTA) Received:

Note: LTA exemption cannot be automatically calculated due to complex conditions (e.g., actual travel costs, number of claims in a block period).

Conveyance Allowance: Special Allowance: Other Allowances/Perks: Total Gross Salary:

Standard Deduction will be applied automatically to the Total Gross Salary based on selected Financial Year and Regime.

Income from House Property

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Gross Annual Value from Let-Out Property (after Municipal Taxes, before 30% Std. Deduction):

30% standard deduction will be automatically applied to this value.

Interest on Home Loan (Self-Occupied Property, Max ₹2L):

This will be treated as a loss from house property.

Business or Profession Income

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Presumptive Scheme: Other Business Income (if not presumptive):

Capital Gains

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Date of Capital Gain Transfer:

Select date. Rates differ significantly **On or After Jul 23, 2024**.

Short-Term (STCG) u/s 111A (on-market equity): Short-Term (STCG) at normal slab rates: Long-Term (LTCG) u/s 112A (on-market equity): Long-Term (LTCG) at 20% (with indexation):

Applicable for land/building acquired before July 23, 2024, if opting for indexation. Otherwise, treated as 'Other Capital Gains'.

Other Capital Gains (e.g., unlisted shares, movable assets):

Income from Other Sources

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Dividend Income:

Dividend income is fully taxable at your applicable slab rates.

Interest from Savings Account: Gift Income (from non-relatives, non-occasional):

Gifts exceeding ₹50,000 from non-relatives (and not on specific occasions like marriage) are fully taxable.

Other Miscellaneous Income:

This includes any other income not covered above, like interest from Fixed Deposits, or other income sources.

Deductions (Old Regime Only)

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Section 80C (e.g., PF, PPF, LIC): Section 80D (Medical Insurance): Other Deductions:

Includes 80G (Donations), 80E (Education Loan Interest), 80GG (Rent Paid), 80DDB (Medical Treatment for Specified Diseases), 80U (Disability), etc.

Deduction for Savings Interest (80TTA/80TTB) is applied automatically.

Tax Paid Already

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TDS (Tax Deducted at Source) Paid: Advance Tax Paid:

Disclaimer: This income tax calculator is for estimation purposes only and should not be considered as professional tax advice. Tax laws are complex and subject to change. Please consult with a qualified tax professional for personalized advice tailored to your specific financial situation.