taxcess.in

Menu
Request Call Back
TAXCESS INCOME TAX CALCULATOR INDIA
TAXCESS.IN
Assesment YearTax Payer
Whether opting for taxation under Section 115BAC?Select Male/ Female/ Senior Citizen
Resindential StatusDate of birth
Salary income (Excluding standanrd ded,Prof tax etc.)Income from house property (Click to add details)
Capital gains (Click to add details)Income from other sources(Interest, Commission etc)
Income from other sources Winnings from Lottery, Crossword Puzzles, etc(tax @30%)
Profits and Gains of Business or Profession (enter profit only)Agriculture income (For slab purpose only)
Deductions 80CDeductions Others than 80C (Click to add details)
Tax Details
Net Taxable income at normal rateCalculated Income tax at normal rate
Net Taxable income at special rateCalculated Income tax at special rate
Income tax payableSurcharge
Health and Educational CessTotal Tax liability
Income under section 111(A)

Income from Buying and selling of stocks or equity-based fund units 12 months or less from date of purchase
Transferring shares via a recognised stock exchange
STT or Securities Transaction Tax is applicable on the sale of equity shares/funds
STCG on selling units of a trust
STCG through the sale of mutual fund units, business trust units or shares via a stock exchange situated in IFSC wherein foreign currency is used (even if there is no STT)
Total income including this less than 2.5 L then STCG tax is 0Applicable investments(80C)(Maximum 1.5 L)

1. Contributing to Provident Fund
2. School fees/ Tuition fee of 2 children
3. LIC premium
4. Home loan repayment (principal amount)
5. Registration expenses and stamp duty of house property
6. Equity-Linked Savings Scheme (ELSS)
7. Investment in NPS greater than 50000 (50000 counted into other than 80C)
8. Investment in eligible mutual fund/ uti
9. Eligible 5year term deposit at banks/ post offices
10.Investment in NSC
11.80C eligible other investments
12.If Section 115BAC Yes opted then above deductions not applicableIncome under section 112(A)

Income from Buying and selling of stocks or equity-based fund units more than 12 months from date of purchase
Transferring shares via a recognised stock exchange
STT or Securities Transaction Tax is applicable on the sale of equity shares/funds
Tax is chargable above 1L only
Total income including this less than 2.5 L then LTCG tax is 0Salary Income

1. Include salary and other allowances received
2. Include monthly pension received
3. Exclude PL encashment on retirement maximum of 3 L for employees other than Central and state goverment
4. If 8 months average basic + da is less than 3 lakh then excluded amount is limited to it
5. Exclude full PL encashment on retirement for Central and state goverment employees
6 Exclude standard deduction of maximum 50000
7 Exclude Professional tax paid
8 Exclude gratuivity received at the time of retirement/ resignation
9 Exclude pension commuttation recieved
10 Include NPS contribution by employerIncome from house property

1. For self occupied houses housing loan interest upto 2L deduction allowed
2. If loan is for renovation/ repair then interest deduction of 30T allowed
3 If Section 115BAC Yes opted then above deductions not applicable
4 For letout houses net income has to be arrived as per the detiled screenDeduction under 80D

1. Amount paid for insurance premium for spouse, children and self less than 60 years old, the maximum deduction 25T.
2. Amount paid for insurance premium of parents less than 60 years old, the maximum deduction 25T.
3. Amount paid for insurance premium for spouse, children and self 60 years or above old, the maximum deduction 50T.
4. Amount paid for insurance premium of parents 60 years or above old, the maximum deduction 50T.
5. Payment made for preventive health check up (for your spouse, children and yourself) maximum deduction 5T.
6. Payment made for preventive health check up parents maximum deduction 5T.
7. Medical insurance premiums should be paid through non-cash modes to be eligible
8. For your spouse, children and yourself total is limited to 50T.
9. For your parents total is limited to 50T.
10 For spouse, children, yourself and parents total limited to 1L.Deduction Under section 80CCD(1)

1. Contribution by employer towards NPS a maximum of 14% salary in case of Cetral and state Govt employees.
2. Contribution by employer towards NPS a maximum of 10% salary in case of other employees.
3. For the purposes of this section, salary includes DA but excludes all other allowances and perquisitesDeduction Under section 80CCF

1. Contribution by employee towards specified infrastructure bonds and other tax saving bonds.
2. Maximum amount eligible under this section is 20T.
3. Normally this type of bonds have 5years of lock in periodDeduction Under section 80CCG

1. It is also known as the Rajiv Gandhi Equity Savings Scheme (RGESS)
2. This deduction is applicable to new retail investors in share market for three consecutive years.
3. Maximum amount allowed is 25T.
4. 50% of investment may be considered for this purpose
5. For this deduction gross total income should be less than 12L.
6. The listed equity shares or listed units of the equity-oriented fund must be specified under the scheme and have a lock-in period of three yearsDeduction Under section 80DDB

1. Maximum deduction allowed under this section is 40T (For senior cityzen it is 1L)
2. Deduction applicable to treatment of self, spouse, children, parents, brothers or sisters
3. The deduction allowed for the amount paid for the treatment of following deseases only
a. Hematological disorders - 1. Thalassaemia and 2. Hemophilia.
b. Full Blown Acquired Immuno Deficiency Syndrome (AIDS)
c. Malignant Cancers
d. Neurological Disease (where the disability level has been 40% or above) 1. Motor Neuron Disease. 2. Chorea. 3. Aphasia. 4. Dementia. 5. Parkinsons Disease. 6. Dystonia Musculorum Deformans. 7. Ataxia. 8. Hemiballismus
e. Chronic Renal failureIncome tax surcharge

1. If total income is above 50 Lakh and 1 Crore or less 10% surcharge for calculated tax
2. If total income is above 1 Croe and 2 Crore or less 15% surcharge for calculated tax
3. If total income is above 2 Crore and 5 Crore or less 25% surcharge for calculated tax
4. If total income is above 5 Crore 37% surcharge for calculated tax
5. Marginal relief applicable for surcharge calculation
6. Taxable income at special rate other than winning from lottery and puzle maximum surcharge applicable is 15%Deduction under section 80DD

1. This deduction is eligible to tax payers whose dependants are differently abled
2. Spouse, Children, Parents, Brothers and Sisters are considered as dipendants here
3. If disability is 40% or more and less than 80% deduction allowed is 75T
4. If disability is 80% or more deduction allowed is 1.25L
5. This deduction not allowed if differently abled person himself/ herself claimed deduction under section UDeduction under section 80U

1. This deduction is eligible to tax payers who are differently abled
2. If disability is 40% or more and less than 80% deduction allowed is 75T
3. If disability is 80% or more deduction allowed is 1.25LDeduction under 80G

1. Donations made to prescribed funds qualify deduction under this section
2. Donation should be in cheque, draft or cash. Donation as kind not eligible.
3. Donation through cash maximum limit is 2T.
4. Some donations are 100% eligible and some others 50% eligible
5. Some donations have maximum limit/ condions and some do not have such limit/ conditions.
6. Enter eligible amount not donation amount in this field
Request Call Back
Request Call Back