India Income Tax Calculator for AY 2019-20
The last date for filing income tax returns in India for the financial year (FY) 2018-19 (and assessment year 2019-20) is July 31, 2019.
Filing of ITR is a mandatory obligation where tax payers detail their annual income from salary and other sources, allowances and reliefs claimed, and investments.
In India, the income tax slabs and tax rates vary for different categories of taxpayers. For individual residents below 60 years of age, the tax rates and slabs for FY 2018-19 and AY 2019-20 are given below.
In addition to the tax and surcharge, the government levies health and education cess at 4 percent on the total tax computed.
There are separate rates for senior individual residents (above 60 years) and ‘super senior’ individual residents (above 80 years).
Disclaimer- This calculator forecasts your possible tax burden, providing you with an estimate that you can use for research purposes. The calculator is based on the information available at the time of publication in April, 2019 and its information is subject to change as well as the interpretation of local authorities. The applicability of this information should be determined through consultation with your professional adviser.