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Computation of Tax Liability Once you have calculated your income tax, the next step in the process will be to calculate your total tax liability. The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. However, short-term capital gains are added to the overall income of an individual and taxed at a marginal tax rate.

Tax reduced from 10% to 5% for Income from Rs 2,50,000 — Rs 5,00,000 leading to tax saving of up to Rs 12,500. Income Tax Slab for FY 2017-18 AY 2018-19 There are three slabs for the Income tax. In case your annual income is more than Rs.

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Income Tax Calculation is one of the most complex tasks for the common man. If you are searching for income tax calculator your search ends here. I am herewith Income tax calculator for the financial year 2017-18. It is simple excel based calculator specially made for salaried people. Using this calculator you can calculate your income tax liability for FY 2017-18 AY 2018-19. Income Tax Slab for FY 2017-18 AY 2018-19 There are three slabs for the Income tax. Income up to 2. Any income above 10 Lakh will be charged with 30% tax. Also Read — Income Tax Rule Changes — In budget 2017 following income tax related changes are introduced. This leads to saving of Rs. Also Read — Download — Income Tax Calculator — FY 2017-18 You can download Income tax Calculator from the link below. In order to calculate your income tax, you need to provide inputs such as your gross income, exemption amount. In addition to that, you need to provide information about the investment made by you under various sections. In the bottom section, you need to provide selection about applicable tax slab. Hope this Income Tax calculator will be useful to you. Do share your views in the comment section. Article by Raviraj is the man behind moneyexcel. He is graduate in finance, engaged in blogging since 6 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. These should not be construed as investment advice or legal opinion.

It is simple excel based calculator specially made for salaried people. I have a Life Insurance Policy with annual premium of Rs. This Advance Excel based Income Tax calculator is having all the features as per Income Tax department including ready made auto generated Form 16. Once you have declared your investments in advance, you do not have to go through the hassle of claiming refunds at a later stage. There are three income tax slabs for general category. New section 80TTB is introduced and it will allow a deduction up to Rs. Field No Details Field A Write your home rent details here. The CBIC had organised the special drive for fast track clearances. The areas where the department has recommended reforms include starting a business, land record enabler, urban local body services, registration, paying taxes, obtaining the approval for construction, and paperless courts and law and order.