Income Tax Calculator

Income tax return must be filed by all individuals who have a total income of more than Rs.2.5 lakhs per annum. Use the income tax calculator below to calculate income tax payable and the income tax rate applicable for you.

Income Tax Calculator

Select the Financial Year for which you want to calculate the Income Tax Payable. Income Tax Payable would be different for every year, depending on the revisions from Government on Tax Slab, deduction limit, Cess % etc in every year’s Budget.

Assessment Year vs Financial year

Financial year starts from 1st April and ends on 31st March. For example, the financial year 2018 – 19 would be 1st April 2018 to 31st March 2019. Assessment year is the year immediately following the financial year wherein the income of the financial year is assessed. Hence, in the assessment year 2019 – 20 the income tax for the period from 1st April 2018 to 31st March 2019 would be assessed.

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