Tax Calculater
Note - All information in this page are collected by different sources from the internet.please verify with govt. website
Income Tax Calculater For 2021-22 – New Tax Rates for 2022-23
| Enter Amount(Per year) | |
|---|---|
| Income Tax Slab | Tax Rate & Tax Amount |
| Up to Rs.2.5 lakh | Nill - 0 |
| Above Rs.2.50 - Rs.5 lakh (tax rebate u/s 87a is available) | 5% - 0 |
| Above Rs.5 lakh - Rs.7.50 lakh | 10% - 0 |
| Above Rs.7.50 lakh - Rs.10 lakh | 15% - 0 |
| Above Rs.10 lakh - Rs.12.50 lakh | 20% - 0 |
| Above Rs.12.50 - Rs.15 lakh | 25% - 0 |
| Above Rs.15 lakh | 30% - 0 |
| Total Tax | 0 |
| Monthly Tax Deduction | 0 |
| Take Home Amount | 0 |
How to calculate rebate u/s 87a?
Section 87A provides a tax rebate to individual taxpayers if their total income is less than Rs 5 lakh after claiming deductions. Hence, firstly determine taxable income after deductions to check the eligibility of the rebate.Calculate your gross total income and reduce deductions under Section 80C to 80U. If the same is below Rs 5 lakh, you are eligible for a tax rebate, i.e. full tax up to Rs 12500 will be deducted as per section 87A. If taxable income is more than Rs 5 lakh, then no rebate can be claimed.
