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Income Tax Department

As amended upto Finance (No.2) Act 2024

Income and Tax Calculator

Click here to view relevant Act & Rule.

Assessment Year

Tax Payer

Category (Age)

Residential Status

Income from Salary

Income From House Property Show Details

a. Income from Self-occupied Property

Interest Paid/Payable on Housing Loan

1. Interest on Housing Loan

Income from self-occupied house property

b. Income from Let-out Property

1. Annual Letable Value/Rent Received or Receivable

2. Less: Municipal Taxes Paid During the Year

3. Less:Unrealized Rent

4. Net Annual Value (1-(2+3))

Less: Deductions from Net Annual Value

i. Standard Deduction @ 30% of Net Annual Value

ii. Interest on Housing Loan

Income from Let-out House Property

Capital Gains Show Details

Short Term Capital Gains (Other than covered under section 111A)

From 01/04/2016 to 15/06/2016	From 16/06/2024 to 22/07/2024	From 23/07/2024 to 15/09/2024	From 16/06/2014 to 15/09/2014	From 16/09/2014 to 15/12/2014	From 16/12/2014 to 15/03/2015	From 16/03/2015 to 31/03/2015	Total

Short Term Capital Gains (Covered under section 111A)

From 01/04/2014 to 15/06/2014	From 16/06/2024 to 22/07/2024	From 23/07/2024 to 15/09/2024	From 16/06/2014 to 15/09/2014	From 16/09/2014 to 15/12/2014	From 16/12/2014 to 15/03/2015	From 16/03/2015 to 31/03/2015	Total

Short Term Capital Gains (Covered under section 111A) -taxed at the rate of 20%.

From 01/04/2024 to 15/06/2024	From 16/06/2024 to 22/07/2024	From 23/07/2024 to 15/09/2024	From 16/06/2024 to 15/09/2024	From 16/09/2024 to 15/12/2024	From 16/12/2024 to 15/03/2025	From 16/03/2025 to 31/03/2025	Total

Long Term Capital Gains (Charged to tax @ 20%)

From 01/04/2014 to 15/06/2014	From 16/06/2024 to 22/07/2024	From 23/07/2024 to 15/09/2024	From 16/06/2014 to 15/09/2014	From 16/09/2014 to 15/12/2014	From 16/12/2014 to 15/03/2015	From 16/03/2015 to 31/03/2015	Total

Long Term Capital Gains (Charged to tax @ 10%)

From 01/04/2014 to 15/06/2014	From 16/06/2024 to 22/07/2024	From 23/07/2024 to 15/09/2024	From 16/06/2014 to 15/09/2014	From 16/09/2014 to 15/12/2014	From 16/12/2014 to 15/03/2015	From 16/03/2015 to 31/03/2015	Total

Long Term Capital Gains (Charged to tax @ 12.5%)

From 01/04/2024 to 15/06/2024	From 16/06/2024 to 22/07/2024	From 23/07/2024 to 15/09/2024	From 16/06/2024 to 15/09/2024	From 16/09/2024 to 15/12/2024	From 16/12/2024 to 15/03/2025	From 16/03/2025 to 31/03/2025	Total

Long Term Capital Gains (Covered under section 112A)

From 01/04/2014 to 15/06/2014	From 16/06/2024 to 22/07/2024	From 23/07/2024 to 15/09/2024	From 16/06/2014 to 15/09/2014	From 16/09/2014 to 15/12/2014	From 16/12/2014 to 15/03/2015	From 16/03/2015 to 31/03/2015	Total

Long Term Capital Gains Covered under section 112A-(Charged to tax @ 12.5%)

From 01/04/2014 to 15/06/2014	From 16/06/2024 to 22/07/2024	From 23/07/2024 to 15/09/2024	From 16/06/2014 to 15/09/2014	From 16/09/2014 to 15/12/2014	From 16/12/2014 to 15/03/2015	From 16/03/2015 to 31/03/2015	Total

Income From Other Sources Show Details

Interest

Commission/Other Income

Winnings from Lottery, Crossword Puzzles, etc.

Dividend income in excess of Rs.10 lakh(u/s 115BBDA)

From 01/04/2019 to 15/06/2019	From 16/06/2019 to 15/09/2019	From 16/09/2019 to 15/12/2019	From 16/12/2019 to 15/03/2020	From 16/03/2020 to 31/03/2020

Profits and Gains of Business or Profession (enter profit only)

Agricultural Income

Deductions Show Details

Life Insurance premium paid

Payment for annuity plan

Contribution toward provident fund / PPF

Investment in NSC (VIII issue) + Interest

Contribution toward ULIP

Contribution toward notified pension fund by MF/UTI

Re-payment of housing loan etc

Tuition fees paid for children

5 Years fixed deposit with PO or Schedule Bank

Contribution toward NPF

Employee's / Self-employed contribution toward NPS (up to 20%) (u/s 80CCD)

Additional contribution towards NPS [u/s 80CCD(1B)]

Employer's contribution toward NPS (u/s 80CCD)

Long-term infrastructure bonds (u/s 80CCF)

Investment under equity saving scheme (u/s 80CCG)

Deposit with Sukanya Samridhi Accounts

Any other deductable (u/s 80C)

Total

Medi-claim premium (u/s 80D)

Actual payment towards medical treatment (u/s 80DDB )

Interest payable on loan for residentials house property (u/s 80EEA )

Interest payable on loan for purchase of electric vehicles(u/s 80EEB )

Donations (u/s 80G)

Deduction for maintenance / medical treatment of dependent (u/s 80DD)

Tick if 80DD is claimed

Tick if severe disability

Interest on loan for higher education (u/s 80E)

Interest on loan taken for Residential House (u/s 80EE)

Deduction in case of a person with disability (u/s 80U)

Tick if 80U is claimed

Tick if severe disability

Interest on deposits in saving account (u/s 80TTA)

Interest on deposits(u/s 80TTB)

Contribution to Agnipath Scheme (u/s 80CCH)

Any other deductions

Net Taxable Income

Income Liable to Tax at Normal Rate ---

Short Term Capital Gains (Covered u/s 111A) 15%

Short Term Capital Gains (Covered under section 111A) -taxed at the rate of 20%.

Long Term Capital Gains (Charged to tax @ 20%)

Long Term Capital Gains Covered under section 112A- (Charged to tax @ 12.5%)

Long Term Capital Gains (Charged to tax @ 10%)

Dividend income(u/s 115BBDA) 10%

Long Term Capital Gains (Charged to tax @ 12.5%)

Winnings from Lottery, Crossword Puzzles, etc) 30%

Income Tax

Surcharge

Education Cess

Secondary and higher education cess

Total Tax Liability

Due date of submission of return

Actual date of submission of return/date of completion of assessment

Relief

TDS/TCS/MAT (AMT) Credit Utilized

Detail of tax paid

Date	Amount

Amount of interest u/s 234A

Amount of interest u/s 234B

Amount of interest u/s 234C

Note:

The above calculator provides for interest calculation as per Income-tax Act. However, as per Taxation and Other Laws Ordinance, 2020, any delay in payment of tax which is due for payment from 20-03-2020 to 29-06-2020 shall attract interest at the lower rate of 0.75% for every month or part thereof, if same is paid after the due date but on or before 30-06-2020.

Accordingly, if taxes due during 20-03-2020 to 29-06-2020 are paid after the due date but on or before 30-06-2020, users are requested to please calculate the interest accordingly.

Advisory: Information relates to the law prevailing in the year of publication/ as indicated . Viewers are advised to ascertain the correct position/prevailing law before relying upon any document.

Disclaimer:The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc.

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