Calculate income tax payable for the assessment year 2020-21 (ie., income generated during the period April 1, 2019 to March 31, 2020) using the tax planner below. This is a simple and easy to use online Income Tax calculator for Financial Year 2019-20. Input the income and expense details to find out your taxable income. This tax calculator also tells you where you are in the Income Tax slab, and also provides information on the payment of advance tax.

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Income Tax Calculation 2020-21

All the fields are to be entered per annum.

Gross Salary includes Salary, Bonus, Perquisites, Compensation etc.
Allowances exempt under Section 10 are HRA, LTA, Medical, Telephone, Petrol etc.
Deductions under Section 16 are Professional Tax / Tax on Employment, Entertainment Allowance.
Income under other sources are Family pension, Interest income.
Deductions under Section 80C to 80U, includes SPF, RPF, Medical Insurance Premium, LIC, Donations, Housing & educational loans etc.

Income Tax Slab For Financial Year 2019-20

GeneralWomenSenior CitizenSuper Senior CitizenIncome Tax
0-250000 0-250000 0-300000 0-500000 No Tax
250000-500000 250000-500000 300000-500000 - 5%
500000-1000000 500000-1000000 500000-1000000 500000-1000000 20%
Above-1000000 Above-1000000 Above-1000000 Above-1000000 30%

Disclaimer:While all efforts are made to provide accurate results, this online tax calculator should only be used as an indicator. Your net taxable amount may differ depending upon other factors in your income. Kindly talk to your advisor for more details.