The Income Tax calculator carries out following calculations for the Assessment Year selected by you

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• Q How to calculate income tax in India?
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In India,the Income tax is calculated on the basis of tax rates and slabs defined by Finance Ministry in the budget which is presented every year.

What calculations are made by the calculator?

• The Income Tax calculator carries out following calculations for the Assessment Year selected by you :
• Income from Salary and Wages, House Property, Presumptive Business and Other Sources.
• Total Deductions available under various sections of Chapter VIA.
• Taxable Income after taking into account income from all sources of income (viz. Salary and Wages, House Property, Capital Gains, Business and Profession, Agriculture (for Rate purpose) and Other Sources and available deductions.
• Taxable Income at Normal Rates and Taxable Income at Special Rates.
• Slab-wise Taxable Income and Income Tax
• Rebate available under Section 87A to tax payees having taxable income below specified limit.
• Health & Education Cess, Surcharge and Marginal Relief on Surcharge
• Total Tax Liability and Income Net of Tax

IMPORTANT LINK::; 

 Click here for Income tax Department official Calculator