INCOME TAX CALCULATOR – FY 2017-18 | AY 2018-19

Income Tax Calculator by Insurance Funda is a simple and useful online tool to calculate your income tax liability in few simple steps. Take a print of your Income Tax Calculation sheet or get it mailed to your e-mail id in few simple steps. Tax payable with rebates and deductions under various sections can be accurately calculated by people even with little knowledge on income tax rules and acts.

Read more: Income Tax return e-filing – Complete step by step guide to make return filing easy.

How to use Income Tax Calculator from Insurance Funa

IF you are unable to view Income Tax Calculator here, Click Here To Open IT Calculator.

Income Tax Calculator FY 2017-18| AY 2018-19 – How to use it?
1. Income tax calculator 2017-18 – Information needed
  • Age of the Income Tax Assessee ( Category- General, Senior citizen and Super senior citizen)
  • Gross annual income for the financial year.
  • Deductions under section 80C
  • Deductions in connection with medical insurance and disability(80D,80DD etc)
  • Housing loan interest and principle payment (Separate)
  • Details of house rent.
  • Other allowable deductions if any
2. Sharing of the Income tax calculator – calculation sheet
  • Print the calculation sheet using the button provided in the bottom.

Read more:

Income Tax Slabs And Rates (Financial Year – 2017-18) (Assessment Year 2018-19)

 

Income Tax Slabs And Rates (FY – 2017-18) (AY 2018-19)
Income Up to 59 years of age 60 to 79 years of age Age 80 and above
0 – 2.5 lakhs Nil Nil Nil
2.5 – 3 lakhs 5% of income above 2.5 lakhs Nil Nil
3 – 5 lakhs 2500 + 5% of income above 3 lakhs 5% of Income above 3 lakhs Nil
5 – 10 lakhs 12500 + 20% of income above 5 lakhs 10000 + 20% of income above 5 lakhs 20% of income above 5 lakhs
Above 10 lakh 112500 + 30% of income above 10 lakhs 110000 + 30% of income above 10 lakhs 100000 + 30% of income above 10 lakhs
If income is above 50 lakhs 10 % of tax as surcharge
If income is above 1 crore 15 % of tax as surcharge
Educational Cess at the rate of 3% has to be paid on tax + surcharge

Please feel free to share this post using the sharing buttons provided below so that more people can use it.

Anish L J
Follow me

Anish L J

Anish L J is a finance, insurance and software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'INSURANCE FUNDA' (www.insurancefunda.in) is his endeavour to provide simple and solid solutions in the Insurance and Finance sectors.
Anish L J
Follow me

Anish L J

Anish L J is a finance, insurance and software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. ‘INSURANCE FUNDA’ (www.insurancefunda.in) is his endeavour to provide simple and solid solutions in the Insurance and Finance sectors.

Add a comment here..