Income Tax Calculator Optimize

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About this app

Calculate and Optimize you tax outgo by restructuring income, investments and expenses.

- Calculate Income Tax payable for Financial Year FY 2018-19 , FY 2017-18, FY 2016-17
- Share or Email details with client/family members
- Calculation as per Category like Male, Female, Senior Citizen, Super Senior Citizen
- Help on different deductions - explanation text and maximum allowed limit
- Section 80C, 80D Health Insurance
- Deduction u/s 80CCD National Pension System (NPS)
- Deduction u/s 80DD Medical disability of dependents
- Deduction u/s 80DDB Medical Expenditure for specified diseases
- Deduction u/s 80U Self disability
- Deduction u/s 80E Interest on education loan

Example Income Tax Calculation,
Financial Year: FY 2018-19
Category: Male
Gross Total Income: 7,20,000
Total Allowances: 0
Interest Paid on Home Loan:0

Deduction u/s 80C: 1,50,000
Deduction u/s 80D: 35,000

Total Deductions: 1,85,000
Standard Deduction: 40,000
Taxable Total Income: 4,95,000
Tax Payable on Total Income: 12,250
Rebate u/s 87A: 0
Surcharge: 0
Health and Educational Cess: 490
Total Tax, Surcharge and Educational Cess (Payable): 12,740

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Updated on
Mar 8, 2018

Data safety

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What's new

Updated for FY 18-19
- Standard deduction for salaried individuals for transport and health at Rs 40,000
- Health and education cess increased to 4% from 3%
- Exemption for health insurance for seniors under section 80D maximum up to Rs 50,000 per year
- Medical expense deduction for seniors with critical illnesses under section 80DDB raised to Rs 1 lac