Income Tax Calculator FY 2016-17

Income tax calculator 2016-17 by Insurance Funda provides you a simple and easy method to calculate your income tax liability in few steps.


This on-line Income tax calculator can calculate tax for Financial year 2014-15 (Assessment year 2015-16), Financial year 2015-16 (Assessment Year 2016-17), and Financial year 2016-17 (Assessment Year 2017-18).

Income Tax Calculator will help you to

  • Calculate income tax for Individuals (Male and Female), Senior Citizens and very Senior Citizens.
  • Calculate income tax for different Financial years and Assessment years.
  • Deductions for your insurance premium under 80C and 80CCC
  • Deductions for contributions to National Pension Scheme (80CCD(1B)) and to Pension Account(80CCD).
  • Deductions for amount paid for Medical Insurance (Sec 80D)
  • Relief on expenses for handicapped dependants under Section 80DD
  • Income tax rebate available for housing loan principal(80C) and interest paid(Sec 24)
  • Calculate surcharge and Educational Cess on tax.
  • and more.

Income Tax Calculator – Steps involved

  1. Select the Financial year for which Income Tax is to be calculated.
  2. Select the Type of Individual from “General, Senior Citizen, and Very Senior Citizen”
  3. Enter Your Gross Annual income for which tax has to be computed
  4. Enter deductions under settings 80C, 80CCC, 80D etc.
  5. Your tax will be calculated which can be printed if you wish.

Read more: All about Income Tax rules applicable to Insurance Policies