Step 12: Finally under the investment details section you need to insert your employer’s contribution towards the National Pension Scheme (NPS) and your monthly home rent expense. Step 11: Now you need to provide your income from interests that are eligible for deduction under the Income Tax Act 1961. Step 10: Then you need to enter the interests paid towards home loan and education loan, if any. Step 9: The next step is to input your medical insurance premium amount, if any. Step 8: Then you need to enter your professional tax amount. Step 7: Now under the Investment Details section first enter your total invested amounts in the allotted tabs as per Income Tax Act 1961. Then click on the “Continue” button to proceed further. Step 6: The last step under the Basic Details options is to write your annual house rent allowance. If your city is not among the given options then select the “other” option.
Step 5: Your next step is to select your city from the drop down menu.
Step 3: Now you need to insert your gross annual income under the allotted section. Step 2: Next step is to select your age group from the three given age range classifications. Step 1: Under the Basic Details section first select your gender from the given options: (Male/Female/Transgender). Just follow the simple steps given below.
Income Tax slab rates for both Male & females remain the same.įor Income Tax Calculator for FY 2020-21 (AY 2021-22) click here to download Free Excel.You can easily identify the amount you need to pay as income tax based on your salary by using the calculator. Rebate is maximum of ₹ 12,500/- for income up to ₹ 5,00,000 under section 87A. Standard Deduction is of ₹ 50,000 to Salaries person as well as to Pensioners. New Regime – Income Tax slabs for FY 2021-22 (AY 2022-23) In Option / alternative 2 (New regime), the computation of Tax arrives without any deductions except for 80CCD (New Pension Scheme) & rebate under section 87A. Old Regime – Income Tax slabs for FY 2021-22 (AY 2022-23) In Option / alternative 1 (Old regime), the computation of Tax arrives after all the eligible deductions. The new regime of taxation is introduced from FY 2020-21, which is optional to an Assessee. Click here to Download – Free Excel Income Tax Calculator FY 2021-22 (AY 2022-23) Income Tax Slab for FY 2021-22 for Tax computation in Income Tax Calculator briefed below.
0 kommentar(er)
