Indian Income Tax Calculator

1. Taxes in India are of two types, Direct Tax and Indirect Tax.

2. Direct Tax, like income tax, wealth tax, etc. are those whose burden falls directly on the taxpayer.

3. The burden of indirect taxes, like service tax, VAT, etc. can be passed on to a third party.

Income Tax is all income other than agricultural income levied and collected by the central government and shared with the states.

Indian Income Tax Calculator helps you to dynamically calculate the annual taxable amount for your income in India.
Income Tax Calculator
Assessment year: ( 2012 - 13)
Enter Net Income:
Gender: Male Female
Age: Less than 60 Greater than 60
Income Tax: INR
Educational Cess(@ 3% of Total Tax): INR
Total Tax Amount: INR
 

Non-Resident:

An individual is defined as a Non-Resident in a Financial Year if :

  • An individual residing abroad is defined as a Non-Resident in a Financial Year under the IT Act if his stay does not exceed 181 days.
  • However for determining residential status of an NRI returning to India for permanent settlement , for the year of return, besides the stay not exceeding 181 days an additional condition is applicable that of stay not totaling to 60 days or more in relevant year if his stay in earlier 4 years totaled to 365 days or more.
  • A resident of India being Indian citizen leaving India for taking up employment or joining as a crew of a ship will be treated as a Non-Resident if his stay in India in the year of departure did not exceed 181 days.

Thus in case of NRIs residing abroad physical stay in India not exceeding 181 days in a financial year is the only factor that determines their status as Non Resident .

Resident:
An individual is defined as a Resident in a Financial Year if :

  • His stay exceeds 181 days during such year

OR

  • His stay totals to 60 days or more in relevant year in addition to his stay totaling to 365 days or more in immediately preceding 4 years.

The second condition of 60 days stay does not apply to an NRI visiting India and an Indian citizen leaving India as a crew- member of a ship for taking up employment abroad.

Income tax slabs 2012-2013 for General tax payer

Yearly Income Tax Rate
Rs. 0 to 1,80,000 No Tax (0 %)
Rs. 1,80,001 to 5,00,000 10%
Rs. 5,00,001 to 8,00,000 20%
Above Rs. 8,00,000 30%

Income tax slabs 2012-2013 for Women

Yearly Income Tax Rate
Rs. 0 to 1,90,000 No Tax (0 %)
Rs. 1,90,001 to 5,00,000 10%
Rs. 5,00,001 to 8,00,000 20%
Above Rs. 8,00,000 30%

Income tax slabs 2012-2013 for Senior citizen (60 – 80 years)

Yearly Income Tax Rate
Rs. 0 to 2,50,000 No Tax (0 %)
Rs. 2,50,001 to 5,00,000 10%
Rs. 5,00,001 to 8,00,000 20%
Above Rs. 8,00,000 30%

Income tax slabs 2012-2013 for Very Senior citizen (Above 80 years)

Yearly Income Tax Rate
Rs. 0 to 5,00,000 No Tax (0 %)
Rs. 5,00,001 to 8,00,000 20%
Above Rs. 8,00,000 30%

Example:
Calculate the Tax Payable as per Indian Govt. rule for tax.
Assessment year: (2012 - 13)
Enter Net Income = 200000
Gender = Female
Age = less than 60

Solution:
Income tax = 1000
Educational Cess (@ 3% of Total Tax) = 30

Total Tax Amount = 1030