Income Tax Calculator 2016 :This calculator carries out following calculations for Individual and HUF assessees for the Assessment Year 2016-17 ( i.e. on income earned during 01.04.2015 – 31.03.2016 ) for determining your taxable income and income tax liability for the year:
- Calculates Taxable Income by computing income from all sources viz. Salary and Allowances, House Property, Capital Gains, Income from other sources, Agriculture Income etc.
- Calculates income chargeable at Special Rate for computing the Taxable Income.
- Calculates deductions available from the Taxable Income under various Sections of Income Tax Act.
- Calculates and shows Income Tax with slab-wise Income details.
- Calculates Surcharge net of Marginal Relief *, wherever applicable.
- Calculates Income net of Income Tax Liability.
Table “A” ,Annexure -I,Form No.10 E,Indian Income Tax Slab Rates:Click Here
Income Tax Deduction From Salaries Circular 20-12-2015:Click Here
Thanks to Kirit Patel & The Dang Cyber Group
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