Income Tax India (AY 21-22) Calculator
- Calculate your total income tax liability including surcharge and Education cess with our Income tax calculator .
- Please note that this tax calculator is for India only and applicable for financial year 2020-21 (01-April-2020 to 31-March-2021). Applicable assessment year is 2021-2022.
- To calculate your taxable Income and total tax liability, just select sec 115BAC is opted or not, select your status and age group, provide your total income, enter eligible deduction amount, and your total taxable income with total tax payable amount including surcharge and education cess is instantly displayed.
- Section 115BAC means:- In budget 2020, govt introduced this new section, which gives option to individual & HUF tax payer to choose old tax regime or new tax regime.
- By opting new tax regime, your taxable income and tax liability will decide with new tax slab.
- Please remember that in new tax regime, many earlier decdutions are not available such as standard deduction, allowances like LTA, children education allowance, any other allowance, Interest on home loan on self occupied property, Chapter VI-A decutions.
- Please compare old and new tax regime before opting any one.