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Modified on : 25 August, 2018

Taxable Income and Tax Calculator AY 2018-19
For Resident Individuals & HUFs

An easy to use and user friendly Income Tax Calculator to calculate Taxable Income, Incomes taxable at various rates, Income Tax, Surcharge, Marginal Relief on Surcharge, Net Surcharge, Education Cess, Tax Liability and Income Net of Tax Liability.

Slabs & Rates for AY 2018-19
Change Assessment Year
Select Age / Status
A.   Income from Salary / Pension
1Total Salary/Pension as per Form 16 (Excl. all allow., perquisites & profit in lieu of salary)
2Allowances Exempt under Section 10 (Not to be added to Total Income from Salary)
3Add: Allowances not exempt
4Add: Value of Perquisites and / or Fringe Benefits
5Add: Profits in lieu of Salary
6Total Income from Salary
B.   Income (Profits) from Business / Profession
1Calculate Presumptive income u/s
1. Turnover or Receipts in cash
2. Turnover or Receipts other than in cash
(by account payee cheque / bank draft or electronic clearing system through bank account)
3. Gross Turnover or Gross Receipts (Not Eligible u/s 44AD if more than ₹ 1 core)
4. Minimum Presumtive Income u/s 44AD (8% of 1 + 6% of 2)
1. Gross Turnover or Gross Receipts (Not Eligible u/s 44ADA if more than ₹ 50 lacs)
2. Minimum Presumtive Income u/s 44ADA (50% of 1)
Vehicle No.Owned for monthsVehicle No.Owned for months
16
27
38
49
510
Minimum Presumtive Income u/s 44AE (₹ 7500/- per month per vehicle)
2Presumtive Income from Business / Profession
3Enter Income from Business / Profession other than Presumptive Income
4Total Income from Business / Profession
C.   Income / Loss from House Property
1Whether Property is Rented of Self Occupied
2Annual Lettable Value or Rent Received or Receivable (Zero, if Self occupied)
3Amount of Rent, which cannot be realized (Zero, if Self occupied)
4Taxes paid to Local Authorities (Zero, if Self occupied)
5Annual Value of Property ( 2 - 3 - 4 )
630% of 5
7Interest payable on borrowed capital (Max. ₹ 2 lacs)
8Income / Loss (-ve) from House Property ( 5 - 7 )
D.   Income from Capital Gains
1Short Term Capital Gain chargeable - Taxable at Normal Rates
2Short Term Capital Gain chargeable (u/s 111A) - Taxable @ 15%
3Long Term Capital Gain chargeable - Taxable @ 20%
4Long Term Capital Gain chargeable - Taxable @ 10%
5Total Income from Capital Gains
E.   Income from Other Sources
1Income - Taxable at Normal Rates
2Income - Taxable at Normal Rates
ParticularsTax RateIncome
Winnings from Lottery, Puzzle, Crossword etc.30.00
Any other income taxable at Special Rate
3Total Income from Other Sources
F.   Agricultural Income (For Rate purpose)
G.   Total Income
H.   Eligible Deductions
1Deductions under Sec. 80C
2Deductions under Sec. 80CCC
3Deductions under Sec. 80CCD1
4Total of Deductions u/s 80C, 80CCC and 80CCD(1) (Max. ₹ 1.50 lakh)
5Deductions under Sec. 80CCD(1B)
6Deductions under Sec. 80CCD2
7Deductions under Sec. 80CCG
8Deductions under Sec. 80D Health Insurance - Self & family
9Deductions under Sec. 80D Health Insurance - Parents
10Deductions under Sec. 80DD
11Deductions under Sec. 80DDB
12Deductions under Sec. 80E
13Deductions under Sec. 80EE
14Deductions under Sec. 80G
15Deductions under Sec. 80GG
16Deductions under Sec. 80QQB
17Deductions under Sec. 80RRB
18Deductions under Sec. 80TTA
19Deductions under Sec. 80U
20Any other eligible deduction
21Total Deductions from Taxable Income
I.   Total Taxable Income (G - H)
J.   Income taxable at Special Rates
K.   Income taxable at Normal Rates
L.   Tax already paid
1Tax Deducted at Source
2Tax Collected at Source
3Advance Tax paid
4Self Assessment Tax paid
5Total Tax paid
Taxable Income and Tax Liability details
DescriptionIncomeIncome Tax
Exempt Income
Income taxable at 5%
Income taxable at 20%
Income taxable at 30%
Income taxable at Special Rates
Total
Less: Relief u/s 87A (For Individuals having taxable income upto ₹ 3.50 lacs)
Less: Income Tax on Agricultural Income included above
Income Tax
Surcharge (If taxable income is more than ₹ 50 lacs)
Less: Marginal Relief (If taxable income marginally exceeds ₹ 50 lac / 1 Cr.)
Net Surcharge
Income Tax + Net Surcharge
Education Cess [@ 3% of (Income Tax + Net Surcharge)]
Gross Income Tax liability
Less: Tax relief under sections 89, 90 and 91
Net Income Tax liability
Add: Interest Payable under Sections 234A, 234B and 234C
Total Income Tax liability
Income Tax Payable / Refund (-)
Income Net of Income Tax Liability
Calculate interest under Section 234 A, B and C
Important : This calculator is an easy online tool for quick basic calculation and cannot give correct calculation in all circumstances. The exact calculation may be made after taking into account all applicable provisions of Income Tax Act / Rules.

How to Calculate :

  1. Total Income : Add income from all sources viz. Salary and Pension, Business / Profession, House Property, Capital Gains (Short Term and Long Tem), Other Souces and Agriculture Income (for Rate Purpose).
  2. Eligible Deductions : Deductions available under various section of Chapter VI and any other deduction for which your are eligible as per the provisons of of Income Tax Act / Rules.
  3. Total Taxable Income : Subtract 'Eligible Deductions' from 'Total Income'.
  4. Income Tax : Calculate Income Tax on Income chargeable at various Normal Tax Rates ( viz. 5%, 20% and 30% ) and on Income chargeable at Special Tax Rates ( for Income from 'Capital Gains' and 'Other Sources' ) as per the status and age of the assessee. Add Income Tax chargeable at Normal Rates and at Special Rates and subtract Income Tax on Agriculture Income (included in calculation of Income Tax).
  5. Surcharge : Surcharge is chargeabe @ 10% of Income Tax if 'Total Taxable Income' exceeds Rs. 50 lacs and @ 15% of Income Tax if 'Total Taxable Income' exceeds Rs. 1 Crore.
  6. Marginal Relief on Surcharge : In case taxable income exceeds ₹ 50 lacs / ₹ 1 crore / 10 crore Surcharge is payable on income tax at applicable rates. If increase in 'Income Tax + Surcharge' is more than the increase in income over ₹ 50 lacs / ₹ 1 crore / 10 crore, the 'Surcharge' is reduced by such amount so that the 'Income Tax + Surcharge' become equal to increase in 'Total Taxable Income' over Rs. 50 lacs / 1 Crore respectively. The amount so reduced from 'Surchage' is 'Marginal Relief on Surcharge'. View examples

    Example 1

    In case of an individual resident (< 60 years) / HUF / NRI having taxable income of ₹ 50,01,000/-

    1Income Tax on income of ₹ 50,01,000/-13,12,800
    2Surcharge on income of ₹ 50,01,000/-1,31,280
    3Income Tax + Surcharge on income of ₹ 50,01,000/- (1 + 2)14,44,080
    4Income Tax on income of ₹ 50 lacs13,12,500
    5Surcharge on income of ₹ 50 lacs0
    6Income Tax + Surcharge on income of ₹ 50 lacs (4 + 5) 13,12,500
    7Increase in Income over ₹ 50 lacs1000
    8Income Tax + Surcharge on income of ₹ 50 lacs + Increase in Income over ₹ 50 lacs13,13,500
    9Income Tax and Surcharge payable on income of ₹ 50,01,000/- (Lower of 3 and 8 )13,13,500
    10Marginal Relief on Surcharge [If (3 - 8) is more than '0' (3 - 8), else '0' ]1,30,580

    Example 2

    In case of an individual resident (< 60 years) / HUF / NRI having taxable income of ₹ 60 lacs

    1Income Tax on income of of ₹ 60 lacs16,12,500
    2Surcharge on income of of ₹ 60 lacs1,61,250
    3Income Tax + Surcharge on income of of ₹ 60 lacs (1 + 1)17,73,750
    4Income Tax on income of ₹ 50 lacs13,12,500
    5Surcharge on income of ₹ 50 lacs0
    6Income Tax + Surcharge on income of ₹ 50 lacs (4 + 5) 13,12,500
    7Increase in Income over ₹ 50 lacs10,00,000
    8Income Tax + Surcharge on income of ₹ 50 lacs + Increase in Income over ₹ 50 lacs23,13,500
    9Income Tax and Surcharge payable on income of of ₹ 60 lacs ( Lower of 3 and 8 )17,73,750
    10Marginal Relief on Surcharge [If (3 - 8) is more than '0' (3 - 8), else '0' ]0

    Example 3

    In case of an individual resident (< 60 years) / HUF / NRI having taxable income of ₹ 1,00,01,000/-

    1Income Tax on income of ₹ 1,00,01,000/-28,12,800
    2Surcharge on income of ₹ 1,00,01,000/-4,21,920
    3Income Tax + Surcharge on income of ₹ 1,00,01,000/- (1 + 2)32,34,720
    4Income Tax on income of ₹ 1 crore28,12,500
    5Surcharge on income of ₹ 1 crore2,81,500
    6Income Tax + Surcharge on income of ₹ 1 crore (4 + 5) 30,93,750
    7Increase in Income over ₹ 1 crore1000
    8Income Tax + Surcharge on income of ₹ 1 crore + Increase in Income over ₹ 1 crore30,94,750
    9Income Tax and Surcharge payable on income of ₹ 1,00,01,000/- (Lower of 3 and 8 )30,94,750
    10Marginal Relief on Surcharge [If (3 - 8) is more than '0' (3 - 8), else '0' ]1,39,970
  7. Education Cess : It is calculated @ 3% of 'Income Tax + Surcharge'.
  8. Tax Liability : It is sum of 'Income Tax', 'Surcharge' and 'Education Cess'.
  9. Income Net of Tax Liability : Subract 'Tax Liability' from 'Total Income'.