Government of India now offers free Income and Tax Calculator for the website users. You can visit incometaxindia.gov.in website and find it from tax tools section or Tax calculators. Government of India also offers other calculators for public to use and this includes:
- Deferred Tax Calculator
- Tax Calculator
- Advance Tax Calculator
- TDS Calculator
With the help of Income and Tax Calculator by Government of India, you can calculate tax. For this you have to fill or select fields like Assessment Year, Tax Payer, Male / Female / Senior Citizen, Residential Status, Income from Salary, Income From House Property, Capital Gains, Income From Other Sources, Profits and Gains of Business or Profession (enter profit only), Agricultural Income, Net Taxable Income etc.
You also have to fill or choose details like Income Liable to Tax at Normal Rate, Short Term Capital Gains (Covered u/s 111A), Long Term Capital Gains (Charged to tax @ 20%), Long Term Capital Gains (Charged to tax @ 10%), Winnings from Lottery, Crossword Puzzles, etc), Income Tax, Surcharge, Education Cess, Secondary and higher education cess, Total Tax Liability etc.
Other fields need to fill includes Due date of submission of return, Actual date of submission of return/date of completion of assessment, Relief other than relief u/s 87A, TDS/TCS/MAT (AMT) Credit Utilized, Detail of tax paid (Date and amount), Amount of interest u/s 234A, Amount of interest u/s 234B and Amount of interest u/s 234C.
Fill all the above mentioned details and click on Submit for results.