Salary Income Tax Calculator
An income tax calculator for salary helps employees estimate their annual tax liability based on their income and deductions. It simplifies complex tax calculations by considering current tax slabs, exemptions, and surcharges. Users can plan finances better, optimize investments, and ensure accurate tax payments. This tool is essential for financial planning and avoiding last-minute tax filing hassles.
Tax Calculator
Taxable Income: ₹0
Income Tax: ₹0
Cess (4%): ₹0
Total Tax: ₹0
FAQs
1. How accurate is this tax calculator?
Our calculator uses current tax slabs and latest budget provisions. However, consult a CA for complex cases.
2. What deductions are considered?
Includes standard deduction, HRA, LTA, Section 80C, 80D, and other Chapter VI-A deductions.
3. Does it consider multiple income sources?
This version calculates tax for salary income only. Include other incomes manually.
4. How to calculate tax for senior citizens?
Senior citizens get higher exemption limits. Use our calculator with updated age category.
5. Are tax-saving investments included?
Yes, include your investments under Section 80C in deductions field.
6. What's the due date for tax payment?
Taxes must be paid through advance tax installments by 15th March each financial year.
7. How to use Form 16 with this calculator?
Input your Form 16 figures directly into corresponding calculator fields.
8. Does it consider new vs old tax regime?
Currently calculates under old regime. We'll add new regime option soon.
9. How to claim HRA exemption?
Include HRA exemption amount in deductions field after calculating as per IT rules.
10. Can education loan affect tax calculation?
Yes, include education loan interest under Section 80E in deductions.