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Home » Income Tax Calculator

Income Tax Calculator

This is an income tax calculator to calculate income tax returns filing for the current year. You can use this free income tax calculator to figure out your income tax.

'How to file income tax' is on everyone's mind and we bring you a simple income tax calculator to figure out how much income tax you have to file during your income tax returns filing for the current assessment year.

This income tax calculator also provides latest income tax slabs based on your income and takes into account your various incomes and deductions that are available to you in Income tax Act. Income Tax has to be filed by every individual who earns more than Rs 2.5 lakh in an assessment year. You will need your Form 16 from your company in order to file your Income Tax Returns. One can fill Income Tax online.

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Income Tax

ITR Filing: Last date is fast approaching! Important things to keep in mind while filing Income Tax returns

ITR Filing: Last date is fast approaching! Important things to keep in mind while filing Income Tax returns

Mon, Dec 27, 2021

Income Tax return filing after the due date attracts a penalty of up to Rs.5000. 

More >
Come January 1, taxmen can directly start recovery for mismatch in sales in GSTR-1, 3B

Come January 1, taxmen can directly start recovery for mismatch in sales in GSTR-1, 3B

Wed, Dec 22, 2021

The move will help curb the menace of fake billing whereby sellers would show higher sales in GSTR-1 to enable purchaser to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability

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Received notice from Income Tax department? Did you make any of these transactions? Expert suggests this checklist

Received notice from Income Tax department? Did you make any of these transactions? Expert suggests this checklist

Sat, Dec 18, 2021

If an individual makes high-value cash transactions, there is a strong possibility that he/she might get a notice from Income Tax Department. The different cash-related transactions include banks, mutual fund houses, brokerages, and property registrars

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Got notice from Income Tax department? Know possible reasons and transactions

Got notice from Income Tax department? Know possible reasons and transactions

Tue, Dec 14, 2021

The high-value transactions must be always reported to the income tax department if the value surpasses a particular threshold.

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Income Tax: Over 3 cr ITRs filed on e-filing portal of Income Tax department till December  3

Income Tax: Over 3 cr ITRs filed on e-filing portal of Income Tax department till December 3

Mon, Dec 06, 2021

More than three crore Income Tax Returns have now been filed on the new e-filing portal of the Income Tax Department as of December 3, informed the Ministry of Finance on Sunday.

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I-T alert ! Tax payment particulars not found against your name on the website? Know the reasons and how to rectify

I-T alert ! Tax payment particulars not found against your name on the website? Know the reasons and how to rectify

Wed, Nov 10, 2021

Income Tax is a tax levied by the government of India on the income earned by every person.

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Income Tax department detects Rs 200-cr black income after raids on dry fruits traders

Income Tax department detects Rs 200-cr black income after raids on dry fruits traders

Fri, Nov 05, 2021

The searches, it said in a statement, were carried out on October 28.

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Tax treaties showing results; ITAT order passed on shared strong documents - Loud and clear message to tax evaders

Tax treaties showing results; ITAT order passed on shared strong documents - Loud and clear message to tax evaders

Wed, Nov 03, 2021

There is a loud and clear message to tax evaders that now government to government data is being shared and it’s now difficult to evade.

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CBDT expands Form 26AS info list; includes foreign remittances, MF buys

CBDT expands Form 26AS info list; includes foreign remittances, MF buys

Wed, Oct 27, 2021

The income tax department has expanded the list of high-value financial transactions which would be available to taxpayers in their form 26AS by including details of mutual fund (MF) purchases.

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SBI customers can choose tax regime while filing ITR through YONO; check the process here

SBI customers can choose tax regime while filing ITR through YONO; check the process here

Wed, Oct 13, 2021

The Income Tax (IT) payers can now choose tax regime while filing Income Tax Returns (ITR) through SBI YONO with Tax2Win.

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Income Tax Return: File ITR before due date or pay late filing fees of Rs 5,000; Know what IT Department says

Income Tax Return: File ITR before due date or pay late filing fees of Rs 5,000; Know what IT Department says

Mon, Oct 11, 2021

As per the information provided by the Income Tax Department, ​if a person who is required to furnish a return of income under section 139​ fails to do so within the time prescribed then they will have to pay interest on tax due.

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Salaried? Want to save Income Tax? Claiming deduction under Section 80C? Must avoid these mistakes

Salaried? Want to save Income Tax? Claiming deduction under Section 80C? Must avoid these mistakes

Mon, Oct 04, 2021

Taxpayers should neither invest in haste nor wait for last-minute income tax filing. 

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Income Tax: Salary, allowances, PF, arrears, leave encashment and gratuity - What's taxable and what's not Know what IT Department says

Income Tax: Salary, allowances, PF, arrears, leave encashment and gratuity - What's taxable and what's not Know what IT Department says

Wed, Sep 29, 2021

Generally whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as salary.

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New Income Tax Portal: Infosys acknowledges some users continue to face difficulties

New Income Tax Portal: Infosys acknowledges some users continue to face difficulties

Thu, Sep 23, 2021

IT major Infosys on Thursday acknowledged that some users continue to experience difficulties in accessing the income tax portal and assured that it is working expeditiously, in collaboration with the Income Tax Department, to further streamline end-user experience.

More >
Big relief for ST community! Centre relaxes TDS provisions of Income-Tax Act

Big relief for ST community! Centre relaxes TDS provisions of Income-Tax Act

Sat, Sep 18, 2021

The Centre has relaxed the provisions of Income-Tax Act, 1961 Act in relation to the payment of interest regarding TDS by Scheduled Bank to a member of Scheduled Tribe (ST) community on Friday.

More >
INCOME TAX: 26 lakh taxpayers! CBDT issues refunds worth Rs 70K cr so far in FY22

INCOME TAX: 26 lakh taxpayers! CBDT issues refunds worth Rs 70K cr so far in FY22

Mon, Sep 13, 2021

The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 70,120 crore to more than 26 lakh taxpayers so far in the current financial year.

More >
Income Tax Return Filing Deadline EXTENDED: Check due dates, reason and other details here

Income Tax Return Filing Deadline EXTENDED: Check due dates, reason and other details here

Fri, Sep 10, 2021

The central government on Thursday extended the deadline till December 31 for filing of income tax returns by individuals for the financial year 2021, amid the coronavirus pandemic and technical glitches in the IT portal. Check the details here:

More >
Income Tax Refund 2021: CBDT issues refund of over Rs 67, 000 cr till August 30; follow 4 EASY steps to check ITR refund status

Income Tax Refund 2021: CBDT issues refund of over Rs 67, 000 cr till August 30; follow 4 EASY steps to check ITR refund status

Sat, Sep 04, 2021

The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs. 67,401 crore to more than 23.99 lakh taxpayers between April 1, 2021 to August 30, 2021, said Income Tax India on Saturday. 

More >
Important alert from SEBI! Link Aadhaar with PAN till THIS date, else it will become INVALID - Check process to do it on income tax website www.incometaxindiaefiling.gov.in

Important alert from SEBI! Link Aadhaar with PAN till THIS date, else it will become INVALID - Check process to do it on income tax website www.incometaxindiaefiling.gov.in

Fri, Sep 03, 2021

The market regulator has also mentioned that all the existing investors are advised to ensure linking of their PAN with Aadhaar number prior to September 30, 2021 or any other date specified by CBDT 

More >
Income Tax Alert – LAST DATE for payment under Vivad se Vishwas Act EXTENDED - CBDT takes step because of THIS REASON

Income Tax Alert – LAST DATE for payment under Vivad se Vishwas Act EXTENDED - CBDT takes step because of THIS REASON

Sun, Aug 29, 2021

“Under The Direct Tax Vivad se Vishwas Act 2020 (hereinafter referred to as “Vivad se Vishwas Act”), the amount payable by the declarant is stated in the table under section 3 of the Vivad se Vishwas Act,” this release said

More >
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