This calculator carries out following calculations for Individual and HUF assessees for the Assessment Year 2015-16 ( i.e. on income earned during 01.04.2014 - 31.03.2015 ) for determining your taxable income and income tax liability:
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. #docx