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Income Tax Calculator - FY 2020-21 is a simple utility app to help you calculate the payable Income Tax as per the recently announced new IT Slab rates in the Budget2020
Key Features
- Find the new tax slab rates for direct tax
- Tax Slab Calculator for Salaried Individual Tax Payers
- Simple Interface to calculate tax from your gross annual income
- Comparison with the old tax slab rate
Union Budget 2020
Proposed Direct Tax Reforms*
* New Simplified Personal Income Tax Regime for Individual Tax Payers
no deduction or exemption
5-7.5 Lakhs - 10 %
7.5 - 10 Lakhs - 15 %
10 - 12.5 Lakhs - 20 %
12.5 - 15 Lakhs - 25 %
Above 15 Lakhs - 30 %
optional for tax payers
simplified income tax return
removal of 70 deductions
This app is useful for individual tax payers, tax filers or chartered accountants to quickly calculate the payable tax or TDS for salaried employees.