Income Tax Calculator for FY 2021-22 (AY 2022-23)

Group Name
PAN Number

Gross Annual Income/Salary (with all allowances)

Less: Allowances exempt u/s 10(for Service Period)
(I) H.R.A. exemption
City of Residence
Basic Salary (Basic+DA)
Rent Paid
H.R.A received
(II) Standard Deduction for Salaried & Pensioner (Rs 50,000) Budget 2019
(iii) Any Other Exempted Receipts/ allowances
(iv) Professional Tax
Income under the head salaries
Add: Any other income from other sources
1. Interest received from following Investments
a. Bank ( Saving /FD /Rec )
b. N.S.C.(accrued/ Recd )
c. Post Ofice M.I.S (6 yrs.)
d. Post Office Recring Deposit (5 yrs.)
2. Any Other Income
3. Any Other Income
Less: Exemption on Home Loan Interest (Sec 24)
Loss from house property (Section 24)
Additional tax exemption for First Time Home Buyers (Budget 2016)
Interest paid on Home Improvement Loan (max 30,000)
Gross Total Income
Less: Deduction under Sec 80C (Max Rs.1,50,000/-)
A. EPF & VPF Contribution
B. Public Provident Fund (PPF)
C. Senior Citizen’s Saving Scheme (SCSS)
D. N.S.C (Investment + accrued Interest before Maturity Year)
E. Tax Saving Fixed Deposit (5 Years and above)
F. Tax Savings Bonds
G. E.L.S.S (Tax Saving Mutual Fund)
H. Life Insurance Premiums
I. New Pension Scheme (NPS) (u/s 80CCC)
J. Pension Plan from Insurance Companies/Mutual Funds (u/s 80CCC)
K. 80 CCD Central Govt. Employees Pension Plan (u/s 80CCD)
 L. Housing. Loan (Principal Repayment)
M. Sukanya Samriddhi Account
N. Stamp Duty & Registration Charges
O. Tuition fees for 2 children
Less: Additional Deduction under Sec 80CCD NPS (Max Rs 50,000/-)
Less: Deduction under chapter VI A
A. 80 D Medical Insurance premiums (for Self )
B. 80 D Medical Insurance premiums (for Parents)
C. 80 E Int Paid on Education Loan
D. 80 DD Medical Treatment of handicapped Dependent
E. 80DDB Expenditure on Selected Medical Treatment for self/ dependent
F. 80G, 80GGA, 80GGC Donation to approved funds
G. 80GG For Rent in case of NO HRA Component (Budget 2016)
H. 80U For Physically Disable Assesse
I. 80TTA (Rs 50,000 for Senior Citizens & Rs 10,000 for others) (Budget 2018)
Less: Deduction under Sec 80CCD(2) NPS (Employer Contribution)
Less: Deduction under Sec 80EEA (Interest on Home Loan for Affordable Home) (Budget 2019)
Less: Deduction under Sec 80EEA (Interest on Auto Loan for Electronic Vehicle) (Budget 2019)
Total Income
Tax Rebate of Rs. 12,500 (For Income of less than 5 lakhs) (Budget 2019)
Total Tax Payable
Tax Surcharge @ 10%/15%/25%/37% (Income more than 50 Lakhs/1 cr/2 cr/5 cr respectively) (Budget 2019)
Add; Edn Cess + Health Cess @ 4%
Net Tax Payable
Advance Tax Paid
Tax Remianing to be Paid
Tax to Total Income Ratio

Calculating Income Tax with Lower Tax Slab under new Regim
Gross Annual Income/Salary (with all allowances)
Income from Other Sources
Less: Deduction under Sec 80CCD(2) NPS (Employer Contribution)
Total Income
Tax Rebate of Rs. 12,500 (For Income of less than 5 lakhs) (Budget 2019)
Total Tax Payable
Tax Surcharge @ 10%/15%/25%/37% (Income more than 50 Lakhs/1 cr/2 cr/5 cr respectively) (Budget 2019)
Add; Edn Cess + Health Cess @ 4%
Net Tax Payable
AY 2022-23)

XXXXXXXXX
To know the Tax rate by
checking the 4th Character
of the PAN
Birth date 1-Oct-84 31-Mar-22
Age To calculate Age
1,600,000 1,600,000
-50,000
For Income Tax purpose - only Delhi, Mumbai,
Metro Chennai & Kolkatta are considered as metro cities.
Noida, Gurgaon etc are Non-metro cities.
300,000
300,000
150,000
You can take Tax Benefit on both HRA & Home
50,000 50,000 Loan.
0 0 In case of any queries Click here.
0 0

50,000

50,000
0
0
0
0
0
The maximum exemption on Home Loan interest is
-135,836 Rs. 2 lakhs irrespective of it being Letout or Self-
135,836 -135,836 Occupied [in Budget 2017]
0 0
0 0
-135,836
0
72,080
0
0
0
61,336
0
0 Click here to choose the Best Tax Saving Fixed
100,000 Deposit rates from banks
0
0 Click here to choose the Best Tax Saving Mutual
Funds (ELSS)
0
 0

0
0
50,000 -50,000
-32,251
0 0
22,251 22,251
0 0
0 0
0 0
0 0
0 0
0 0 80EEA – New Tax Exemption on Home Loan for
Purchase of Affordable House
10,000 10,000
100,000 100,000 -100,000
150,000 150,000 -150,000 80EEB – New Tax Exemption on Auto Loan for
Purchase of Electric Vehicles
160,000 160,000 -150,000

Tax Rebate u/s 87A has been increased to Rs 12,500

from Rs 2,500 in Budget for people with income less
than Rs 5 Lakhs
Click for more details
y) (Budget 2019) 0
0
0
10,000

0%

er new Regim

y) (Budget 2019)
Income Tax for General Tax Tax Slabs Incremental Taxable Inc

0 -250000 - 250,000 250000

250001 - 500000 - 500,000 250,000 -250000
500001 - 1000000 - 1,000,000 500,000 (500,000)
500001 + - -318,087 -1000000
Total Tax -

Income Tax for Senior Citizen Tax Tax Slabs Incremental Taxable Inc
0 -300000 - 300,000 300,000
300001 - 500000 10,000 500,000 200,000 381,913
500001 - 1000000 36,383 1,000,000 500,000 181,913
500001 + - -318,087 (318,087)
Total Tax 46,383

Income Tax for very Senior Citizen Tax Tax Slabs Incremental Taxable Inc
0 - 500000 - 500,000 500,000
500001 - 1000000 36,383 1,000,000 500,000 181,913
1000001 + - -318,087 (318,087)
Total Tax 36,383
Income Tax for General Tax Tax Slabs Incremental Taxable Inc
0 - 2.5 - 250,000 250,000
2.5 - 5 - 500,000 250,000 (250,000)
5 - 7.5 - 750,000 250,000 (500,000)
7.5 - 10 - 1,000,000 250,000 (750,000)
10 - 12.5 - 1,250,000 250,000 (1,000,000)
12.5 - 15 - 1,500,000 250,000 (1,250,000)
15+ - (1,500,000) (1,500,000)
Total Tax -

Income Tax for Senior Citizens Tax Tax Slabs Incremental Taxable Inc
0-3 - 300,000 300,000
3-5 - 500,000 200,000 (300,000)
5 - 7.5 - 750,000 250,000 (500,000)
7.5 - 10 - 1,000,000 250,000 (750,000)
10 - 12.5 - 1,250,000 250,000 (1,000,000)
12.5 - 15 - 1,500,000 250,000 (1,250,000)
15+ - (1,500,000) (1,500,000)
Total Tax -

Income Tax for Super Senior Citizen Tax Tax Slabs Incremental Taxable Inc
0 - 2.5 - 250,000 250,000
2.5 - 5 - 500,000 250,000 (250,000)
5 - 7.5 - 750,000 250,000 (500,000)
7.5 - 10 - 1,000,000 250,000 (750,000)
10 - 12.5 - 1,250,000 250,000 (1,000,000)
12.5 - 15 - 1,500,000 250,000 (1,250,000)
15+ - (1,500,000) (1,500,000)
Total Tax -
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Metro
Non-Metro