About Income Tax Calculator Optimize
Calculate and Optimize you tax outgo by restructuring income, investments and expenses. Feature - Calculate Income Tax payable for Financial Year FY 2018-19 , FY 2017-18, FY 2016-17 - Share or Email details with...
Calculate and Optimize you tax outgo by restructuring income, investments and expenses.
Feature
- 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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Previous Versions
Here you can find the changelog of Income Tax Calculator Optimize since it was posted on our website on 2016-12-22 23:37:20.
The latest version is 8.3.5 and it was updated on 2024-04-22 11:57:59. See below the changes in each version.
Income Tax Calculator Optimize version 8.3.5
Updated At: 2018-03-08
Changes: 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
Income Tax Calculator Optimize version 6.11
Updated At: 2016-11-13
Changes: Version 6.4,- Application Size reduced by 30%.,- Option to enter deductions for,1) 80CCD National Pension System (NPS),2) 80DD Medical disability of dependents,3) 80DDB Medical Expenditure for specified diseases,4) 80U Self disability,5) 80E Interest on education loan,- Help on different deductions - explanation text, maximum limits,- Support for Financial Year FY 2015-16, FY 2016-17
Disclaimer
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