Income Tax Calculator

To check your income tax liability, you can use the tax calculator on the NDTV website. You can use this tax calculator to find out your estimated income tax liability. The tax calculator takes into account factors such as standard deduction, house rent allowance (HRA) exemption, premium paid against mediclaim policy for self, spouse, children and parents, repayment of home, education loan and any overall deductions applicable under Section 80C and 80CCD of the I-T Act.
The calculator gives quick information about the basic tax calculation for a financial year.
The Budget for the financial year 2021-22 proposed a new tax regime under which those earning up to Rs 15 lakh in a year and opting to forgo deductions provided under the various sections of the I-T Act would be able to pay income tax at lower rates.
"A person earning Rs 15 lakh in a year and not availing any deductions etc will pay only Rs 1,95,000 as compared to Rs 2,73,000 in the old regime," Ms Sitharaman had said in her Budget speech.
The Budget keeps the account of the government's finances for the fiscal year that runs from April 1 to March 31. It is the most important financial event of the year and is keenly watched by scores of industry captains and investors.
Every year, the Finance Minister holds pre-Budget consultations with other ministries, state governments, economists, industries and corporate bodies before arriving at the final draft.

................................ Advertisement ................................

Short videosBy Firework

................................ Advertisement ................................

Listen to the latest songs, only on JioSaavn.com