Income and Tax Calculator · Income Liable to Tax at Normal Rate — · Short Term Capital Gains (Covered u/s 111A) 15% · Long Term Capital Gains. The Income tax calculator is an easy-to-use online tool that helps you estimate your taxes based on your income after the Union Budget is presented. How can some one calculate income tax on 10 lacs salary and above.

Income tax calculator

Income Tax Calculator – FAQs

1. How is the income and tax calculator service beneficial to registered e-Filing users?
The income and tax calculator service enables registered and unregistered e-Filing users to perform the following actions:

• Access their tax calculation with basic and/or advanced  calculator in a quick and easy manner without logging into the e-Filing portal.
• Compare their tax as per the old tax regime and new tax regime introduced in the Finance Budget 2020.

2. How is the current income and tax calculator service different from the previous version on the old e-Filing portal?
The Income and Tax Calculator service is now a Quick link on the e-Filing portal.
You can estimate tax as per new tax regime and old tax regime and compare the results.

3. Can I consider the calculation from the income and tax calculator exact, and use it when filing my return?
No. The income and tax calculator enables you to have a quick view of your basic tax calculation and does not necessarily give your final tax calculation in all circumstances. For filing of returns, the exact calculation may be made as per the provisions contained in the relevant Acts and Rules.

source: https://www.incometax.gov.in/iec/foportal/income-tax-calculator-faqs