INCOME TAX CALCULATOR

Penerangan tentang INCOME TAX CALCULATOR

This application is designed to help you calculate your individual income tax and most importantly it do not store/send your data anywhere. It works offline and do not need any internet connection , all the information you enter stays on your device only.
App Details -
The Income tax calculator is an easy-to-use app that helps you estimate your taxes based on your income after the Union Budget is presented. In this app you can check what method is good for you between these two
1. Old Tax Regime
2. New Tax Regime
The New Tax Regime has proposed lower income-tax rates, for income segments up to Rs 15 lakh. But you need to remember that the proposed lower tax rates will be applicable only if you are willing to give up exemptions and deductions available under various provisions of the Income-tax Act, 1961.
This means that when you choose the New Tax Regime, you will have to forgo some exemptions [such as Leave Travel Allowance (LTA), House Rent Allowance (HRA), etc] and deductions available under chapter VI A of the Act that grant deductions under Section 80 [such as 80C, 80CCC, 80CCD, 80D, 80DD, 80E, 80EE, 80G, 80GG, 80GGA, 80GGC, etc].
This app calculates the tax based on both the method and shows you which one you should go for saving taxes.