Online Income tax calculator India 2017-2018 FY Without Download or Apps

Income tax slabs for Financial year 2017-2018 has been announced. Based on these different slabs for different Income groups calculation of Income tax can be done. In this situation Online Income tax calculator comes in for our help in making easy calculations with out any complex ways. Many news channels, websites have launched their online Income tax calculator for calculation of tax payable in India. There has been changes in tax calculations and surcharges which is different from last Financial year of 2016-2017.

In new Assessment year 2018-2019 Income tax slabs which are announced on Union budget on 1 February 2017 will be used. Based on this there is no tax payable for Income or salaried employees up to income of Rs.2,50,000 per year. Tax for income from Rs 2,50,000 to Rs 5,00,000 is now 5% which is reduced from earlier 10%. This change in tax slab has been relieving to a large number of salaried employees in India which results in tax saving of up to Rs 12,500. Rebate on tax is reduced to Rs.2500 for employees with taxable income below Rs 3,50,000.

There will be no Rajiv Gandhi Equity Savings Scheme (RGESS) Tax exemption from Financial Year 2017-18. There is 10% surcharge on income tax if total income is between Rs 50 Lakhs to Rs 1 crore. For income above Rs.1 Crore there will be 15% surcharge. By decreasing tax rate to 5% for income Rs.2,50,000 to Rs.5,00,000 it has helped 68% of individual tax payers in India. With this new taxation slab for income up to Rs. 3.5 lakhs per year now a tax payer has to pay only Rs 2,575, while earlier it was just Rs 5,150.

Paying tax is necessary for development of our country. With demonstration lot of salaried employees faced difficulty in cash transactions. Everyone was in fear that Union Budget 2017-2018 will be a tougher one.

But Finance Minister Arun Jaitley gave relief to everyone by reducing tax for 2.5 lakhs to 5 lakhs as 5%. This had benefited a huge number of individuals.

Calculating payable Income tax per financial year is necessary for every one. As ordinary people will have to pay taxes, Income tax department has made tax filing procedure a simple one for all.

India Online Income tax calculator for 2017-2018

Lot of Online Income tax calculators have been released after announcing of new slabs of Income tax on 1-2-2017. Among them an official calculator released by Income Tax department is most reliable. Many online news channel websites have also come up with income calculators and we have added them also here for your reference.

With arrival of online Income tax calculator in India theer is no necessary to install mobile apps or download excel sheets. Everything is simple with these reliable official calculators for calculating your income tax.

  • Official Calculator from Income Tax Department Govt Of India

In Official Income tax department’s calculator following details have to be input to calculate tax,

  • Assessment Year
  • Tax Payer
  • Male / Female / Senior Citizen
  • Residential Status
  • Income from Salary
  • Income From House Property
  • Capital Gains
  • Income From Other Sources
  • Profits and Gains of Business or Profession (enter profit only)
  • Agricultural Income
  • Deductions
  • Net Taxable Income
  • Income Liable to Tax at Normal Rate
  • Short Term Capital Gains (Covered u/s 111A)
  • Long Term Capital Gains (Charged to tax @ 20%)
  • Long Term Capital Gains (Charged to tax @ 10%)
  • Winnings from Lottery, Crossword Puzzles, etc)
  • Income Tax
  • Surcharge
  • Education Cess
  • Secondary and higher education cess
  • Total Tax Liability
  • Due date of submission of return
  • Actual date of submission of return/date of completion of assessment
  • Relief
  • TDS/TCS/MAT (AMT) Credit Utilized
  • Detail of tax paid

Calculate Tax Online at http://www.incometaxindia.gov.in/Pages/tools/income-tax-calculator-234ABC.aspx

Screen shot of Income tax calculator of Income Tax Department

Online Income tax calculator 2017-2018

Source – Income Tax department website

  • Income Tax calculator from NDTV

Calculate Tax Online at http://profit.ndtv.com/budget/tax-calculator

Screen shot of Income tax calculator from NDTV

Source – NDTV website

  • Income Tax Calculator from First Post

Calculate Tax Online at http://www.firstpost.com/tax-calculator

Screen shot of Income tax calculator from First Post

Online Income tax calculator

Source – Firstpost website

  • Manorama online Income Tax Calculator for 2017-2018

Calculate Tax Online at http://services.manoramaonline.com/Taxcal/

Source – Manorama online website

Income tax slab FY 2017-2018

  • Individuals up to 60 years

Till Rs 2.5 Lakhs – Nil
Rs 2.5 Lakhs to Rs 5 Lakhs 5% Tax
Rs 5 Lakhs to Rs 10 Lakhs 20% Tax
Above Rs 10 Lakhs 30% Tax

  • Individuals from 60 years to 80 years

Till Rs 3 Lakhs – Nil
Rs 3 Lakhs to Rs 5 Lakhs 10% Tax
Rs 5 Lakhs to Rs 10 Lakhs 20% Tax
Above Rs 10 Lakhs 30% Tax

  • Individuals above 80 years

Till 5 Lakhs – Nil
Rs 5 Lakhs to Rs 10 Lakhs 20% Tax
Above Rs 10 Lakhs 30% Tax