Income Tax Calculator for AY 2021-22 / AY 2022-23 by karvitt.

com
Calculate Income Tax Liability as per Existing and New Tax Regimes ( Tax Rates )

Important : This calculator is suitable only for Individuals having inome below Rs. 50 lacs, as no surcharge is being calculated.

Use detailed Income Tax Calculator with More features and functions for All Individuals

Select Age for Auto Tax Calculation Below 60 Years Above 60 but below 80 Years Above 80 Years

Calculation of Taxable Income

Existing Regime New Regime

A Income from Salary / Pension Amount (Existing Tax Rates applicable) (New Tax Rates applicable)
Not opted Sec. 115BAC Opted Sec. 115BAC

Total Salary/Pension (Excl. Standard Deduction, all exemptions,

1 Rs. Rs. 0 Rs. 0
allowances, perquisites & profit in lieu of salary)

2 Standard deduction u/s Sec 16(i) Rs. Rs. 0 Rs. 0

3 Entertainment Allowance u/s Sec 16(ii). Rs. Rs. 0 Rs. 0

4 Employment (Profession) Tax paid u/s Sec 16(iii). Rs. Rs. 0 Rs. 0
Allowances Exempt under Section 10(5), 10(13A), 10(14), 10(17)
5 Rs. Rs. 0 Rs. 0
and 10(32).
6 Any other allowance(s) exempt under other section 10 Rs. Rs. 0 Rs. 0
7 Allowances not exempt Rs. Rs. 0 Rs. 0

8 Value of Perquisites and / or Fringe Benefits Rs. Rs. 0 Rs. 0

9 Profits in lieu of Salary Rs. Rs. 0 Rs. 0

Taxable Income from Salary / Pension Rs. 0 Rs. 0

B Income from House property

1 Whether Property is Rented Rented Not Rented
Annual Lettable Value or Rent Received or Receivable
2 Rs. Rs. 0 Rs. 0
(Zero, if Self occupied)
Amount of Rent, which cannot be realized
3 Rs. Rs. 0 Rs. 0
(Zero, if Self occupied)
4 Taxes paid to Local Authorities (Zero, if Self occupied) Rs. Rs. 0 Rs. 0

5 Annual Value of Property ( 2 - 3 - 4 ) Rs. 0 Rs. 0

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6 30% of 5 Rs. 0 Rs. 0
7 Interest payable on borrowed capital (Max. ₹ 2 lacs) Rs. Rs. 0 Rs. 0

8 Taxable Income from House Property Rs. 0 Rs. 0

C Income from Business & Profession Rs. Rs. 0 Rs. 0

D Income from Capital Gains

1 Income Taxable at Normal Rates Rs. Rs. 0 Rs. 0

2 Income Taxable at Special Rate @ 10% Rs. Rs. 0 Rs. 0

3 Income Taxable at Special Rate @ 15% Rs. Rs. 0 Rs. 0

4 Income Taxable at Special Rate @ 20% Rs. Rs. 0 Rs. 0

5 Total Taxable Income from Capital Gains Rs. 0 Rs. 0

E Income from Other Sources

1 Income Taxable at Normal Rates Rs. Rs. 0 Rs. 0
Winnings from Lottery, Puzzle, Crossword etc.
2 Rs. Rs. 0 Rs. 0
Taxable at Special Rate @ 30%
3 Total Taxable Income from Other Sources Rs. 0 Rs. 0

F Total Income from All Sources Rs. 0 Rs. 0

G Eligible Deductions under Chapter VIA

1 Deductions under Sec. 80C Rs. Rs. 0 Rs. 0

2 Deductions under Sec. 80CCC Rs. Rs. 0 Rs. 0

3 Deductions under Sec. 80CCD1 Rs. Rs. 0 Rs. 0

4 Total of Deductions u/s 80C, 80CCC and 80CCD(1) Rs. 0 Rs. 0

5 Deductions under Sec. 80CCD(1B) Rs. Rs. 0 Rs. 0

6 Deductions under Sec. 80CCD2 Rs. Rs. 0 Rs. 0

7 Deductions under Sec. 80CCG (Enter amount invested) Rs. Rs. 0 Rs. 0

8 Deductions under Sec. 80D (Health Insurance - Self & family) Rs. Rs. 0 Rs. 0

Deductions under Sec. 80D (Health Insurance - Non Sr. Citizen parents) Rs. Rs. 0 Rs. 0
9
Deductions under Sec. 80D (Health Insurance - Sr. Citizen parents) Rs. Rs. 0 Rs. 0

Deductions under Sec. 80DD (Non-severe Disability) Rs. Rs. 0 Rs. 0

10
Deductions under Sec. 80DD (Severe Disability) Rs. Rs. 0 Rs. 0

11 Deductions under Sec. 80DDB Rs. Rs. 0 Rs. 0

12 Deductions under Sec. 80E Rs. Rs. 0 Rs. 0

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13 Deductions under Sec. 80EE Rs. Rs. 0 Rs. 0
14 Deductions under Sec. 80EEA Rs. Rs. 0 Rs. 0

15 Deductions under Sec. 80EEB Rs. Rs. 0 Rs. 0

17 Deductions under Sec. 80G Rs. Rs. 0 Rs. 0

18 Deductions under Sec. 80GG Rs. Rs. 0 Rs. 0

19 Deductions under Sec. 80QQB Rs. Rs. 0 Rs. 0

20 Deductions under Sec. 80RRB Rs. Rs. 0 Rs. 0

21 Deductions under Sec. 80TTA / 80TTB Rs. Rs. 0 Rs. 0

Deductions under Sec. 80U (Non-Severe Disability) Rs. Rs. 0 Rs. 0

22
Deductions under Sec. 80U (Severe Diability) Rs. Rs. 0 Rs. 0

Total Deductions available under Chapter VIA Rs. 0 Rs. 0

Total Income Taxable at Special Rates Rs. 0 Rs. 0

H Total Income Taxable at Normal Rates Rs. 0 Rs. 0

Total Taxable Income Rs. 0 Rs. 0

Calculation of Income Tax Liability

Particulars Existing Regime New Regime
(Existing Tax Rates applicable) (New Tax Rates applicable)
Not opted Sec. 115BAC Opted Sec. 115BAC

1 Income Tax at Normal Rates Rs. 0 Rs. 0

2 Income Tax at Special Rates Rs. 0 Rs. 0

3 Total Income Tax Rs. 0 Rs. 0

4 Relief under Section 87A Rs. 0 Rs. 0

5 Net Income Tax Rs. 0 Rs. 0

Surchage is not calculated as this Calculator is suitable only for Income below Rs.50,00,000/-,
6 Rs. 0 Rs. 0
where no surcharge is payable
7 Education Cess at 4% of ( Income Tax + Surcharge ) Rs. 0 Rs. 0

8 Total Income Tax Liability Rs. 0 Rs. 0

Rs. Rs.

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