Calculator provides comparison between Old and New Tax regimes / laws for FY 2020-21, useful to know income tax amount to be paid, to provide IT declaration to your employer.
This Calculator considers financial year, age group such as Normal, Senior, Super Senior citizens, residential status such as Resident or NRI, Tax payer status such as Individual or HUF, and most important factor of net taxable income and the result will give you Net Tax, rebate, cess, and other information. Once calculated, one can take a print of the result for further use.
Budget for FY 2020-21 announced on Feb 1st 2020 introduced a new IT Regime where lower tax rates applicable for those who forego exemptions, deductions, & reliefs
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