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Income Tax Calculator

This is an income tax calculator to calculate income tax returns filing for the current year. You can use this free income tax calculator to figure out your income tax.

'How to file income tax' is on everyone's mind and we bring you a simple income tax calculator to figure out how much income tax you have to file during your income tax returns filing for the current assessment year.

This income tax calculator also provides latest income tax slabs based on your income and takes into account your various incomes and deductions that are available to you in Income tax Act. Income Tax has to be filed by every individual who earns more than Rs 2.5 lakh in an assessment year. You will need your Form 16 from your company in order to file your Income Tax Returns. One can fill Income Tax online.

Income Tax

Income tax returns filing: 1 in 4 employees unaware of tax benefits in salary

Income tax returns filing: 1 in 4 employees unaware of tax benefits in salary

Tue, Apr 24, 2018

Among the employees that opt out of reimbursements, 56  per cent  of them do so for higher in-hand salary, thereby not using the full potential of the tax benefits offered to them, the Zeta employee benefits survey commissioned to Nielsen India said today. Employee tax benefits are tax saving benefits offered by companies to salaried employees as part of their cost to company (CTC)

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From April 1, 10 income tax returns filing changes you will have to deal with

From April 1, 10 income tax returns filing changes you will have to deal with

Sat, Mar 31, 2018

 While the changes are simple, they still have to be correctly assessed and then given  adequate  explanation when you eventually file your tax returns. Not knowing them is not an option. Ultimately, a taxpayer will have to deal with them. And the sooner they do, the better it is as otherwise they will be left with no option but to try and fix it at the last moment and that is a certain recipe for disaster since mistakes will be made in the rush

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From April 1, here is how your financial life will change

From April 1, here is how your financial life will change

Sat, Mar 31, 2018

The Central government has made numerous proposals in the Budget that have been cleared for implementation and to get you up to speed on them, we list some of them here point-wise so that you are not caught by surprise by some happening mid-way through the fiscal. Union Finance Minister Arun Jaitley had presented Budget 2018 in the Lok Sabha on February 1 and this was his fourth one

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From Lokeshwar Dev to Arjun Sonka, Income Tax dept looks to name and shame defaulters

From Lokeshwar Dev to Arjun Sonka, Income Tax dept looks to name and shame defaulters

Fri, Mar 30, 2018

In full-page advertisements issued in major national dailies as part of its name and shame policy on defaulters, the department advised them to pay their tax arrears immediately. The businesses of the defaulting firms as shown in the list include food processing, bullion trading, software, real estate, breweries and manufacture of ingots. The total default amount of 24 entities from cities like Ahmedabad, Guwahati, Vijaywada, Nashik, Surat, Delhi, Vadodara, Kolkata and others, is around Rs 490 crore. 

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Income tax offices to remain open on holidays for filing of returns

Income tax offices to remain open on holidays for filing of returns

Tue, Mar 27, 2018

The government has said that all income tax offices will remain open during holidays between March 29 and 31 to facilitate filing of returns. All Ayakar Seva Kendras (ASKs) will also remain open on these days, an official statement by Ministry of Finance said.

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Income tax: CEA Arvind Subramanian reveals when direct tax reforms report is expected

Income tax: CEA Arvind Subramanian reveals when direct tax reforms report is expected

Tue, Mar 27, 2018

Chief Economic Adviser Arvind Subramanian said that one of the India's biggest challenges is how to get more and more people pay income taxes. "I think that is very critical and we are really falling short on that. Any direct tax system must encourage voluntary compliance to get more and more taxpayers in and this is something we should be focusing on," he said.

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Income tax returns (ITR) filing: How to save tax; amazing tips to make your money stay in your wallet

Income tax returns (ITR) filing: How to save tax; amazing tips to make your money stay in your wallet

Thu, Mar 15, 2018

Income tax returns (ITR) filing: As the investments made are generally with a long term perspective, it is important that informed decisions are made based on the tax benefits available as well as risk appetite, time horizon and liquidity requirements of the investors. 

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Income Tax Returns (ITR) filing deadline: Did you miss it? Rush now, or face penalty; check 5 step guide

Income Tax Returns (ITR) filing deadline: Did you miss it? Rush now, or face penalty; check 5 step guide

Fri, Mar 09, 2018

Income Tax Returns (ITR) filing deadline: From April 1, 2018, the penalty has been fixed at Rs. 5000 for all delayed ITR filings before Dec 31, 2018 and for earnings above Rs. 5000. However, the penalty has been set at Rs. 10,000 if the ITR is filed after Dec 31, 2018.

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International Women's Day: How women can claim deduction, slash income tax

International Women's Day: How women can claim deduction, slash income tax

Thu, Mar 08, 2018

International Women's Day: Though this recent amendment is likely to improve the take-home salary  of women workforce, on International Women's Day we provide here a few of the tax planning avenues which can be explored by women professionals to minimize the income tax implications.

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Seeking income tax exemption for FY19? click here to know

Seeking income tax exemption for FY19? click here to know

Mon, Feb 19, 2018

A tax-payer who has taken benefit under Section 80TTB cannot take tax benefit under Section 80TTA, because benefits under Section 80TTB and Section 80TTA are exclusive.

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India, Iran ink pact on double taxation avoidance

India, Iran ink pact on double taxation avoidance

Sat, Feb 17, 2018

The Iranian side expressed its readiness to enhance enabling environment to attract Indian private/public sector investments, in Chabahar FTZ, the statement said.

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National Pension Scheme: All you should know about it after FY19 Budget

National Pension Scheme: All you should know about it after FY19 Budget

Mon, Feb 12, 2018

NPS is termed as contribution retirement savings scheme developed to enable the subscribers for making decisions regarding their future through systematic savings during their working life.    

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Income tax returns can be filed even if you missed deadline

Income tax returns can be filed even if you missed deadline

Fri, Feb 09, 2018

Filing income tax return after the due date is called belated return. It can be filed before the end of the assessment year. 

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Investments that can help in saving taxes

Investments that can help in saving taxes

Thu, Feb 08, 2018

'Disclaimer: This story is for informational purposes only and should not be taken as investment advice.'

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Why to file income tax return?

Why to file income tax return?

Wed, Feb 07, 2018

If you do not file ITR, you are liable to be fined and prosecuted by the I-T Department.  

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Compensation likely for Central staff under 7th pay commission in April

Compensation likely for Central staff under 7th pay commission in April

Fri, Feb 02, 2018

Last year in June, the Union Cabinet had approved recommendations of the CPC with 34 modifications, which will mean an additional annual burden of Rs 30,748 crore on the exchequer.

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Here’s how different sectors reacted to the Union Budget 2018

Here’s how different sectors reacted to the Union Budget 2018

Fri, Feb 02, 2018

Know the reactions from industry experts on the Union Budget 2018.  

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Know how Budget announcements affect your finances

Know how Budget announcements affect your finances

Thu, Feb 01, 2018

Jaitley re-introduces standard deduction for salaried class upto Rs. 40,000 in lieu of transport, medical allowance. Standard deduction to cost Rs 8000 crore to government.

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Budget 2018: Focus on these key areas as you listen to Arun Jaitley’s speech

Budget 2018: Focus on these key areas as you listen to Arun Jaitley’s speech

Thu, Feb 01, 2018

Keeping an eye on these five points will just be enough for you to make out if this year’s Budget has been good or bad for you.

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Here's how you can save taxes on your mutual fund investment

Here's how you can save taxes on your mutual fund investment

Tue, Jan 30, 2018

Mutual fund market has become lucrative investment option in India, as it has reached all-time high.

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