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Income Tax Calculator

Finance Minister Arun Jaitley has made a few minor changes in the personal tax category to ease the pain of demonetisation. Jaitley reduced the tax rate to 5 percent from 10 percent for an income of Rs 2.5 lakh to Rs 5 lakh. He also cut the rebate to Rs 2,500 from Rs 5,000. The reduction in personal tax rate will benefit all the taxpayers in country. If you are still confused as to how much tax you need to pay next year, here is a simple tax calculator designed by us. Check it out:

Assessment Year
Gross Taxable Salary
HRA Exemption (i)
Transport Allowance (i)
Medical Insurance Premium (Section 80D)
Interest Paid on Home Loan
Education Loan (Section 80E)
Basic Deductions (Section 80C)
Basic Deductions (Section 80CCD)
Donations to Charity (Section 80G) (i)
EmailId (Optional)
Please note that figures displayed above are approximate.

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