Income Tax Calculator for India Current FY 2017-2018/AY 2018-2019:Calculate the Income Tax for the Financial Year 2017-2018 (Assessment Year: 2018-2019) using this application. Advance Tax Calc, Quick Tax Calc and HRA Exemption Calc were provided in the application.Here are the rules considered in the app:Income Tax Rates for Financial Year 2017-2018:Case A: For Men (less than 60 years)Upto Rs. 2,50,000 NilRs. 2,50,001 to Rs. 5,00,000 5 per centRs. 5,00,001 to Rs. 10,00,000 20 per centAbove Rs.
10,00,000 30 per centCase B: For Women (less than 60 years)Upto Rs. 2,50,000 NilRs. 2,50,001 to Rs. 5,00,000 5 per centRs. 5,00,001 to Rs. 10,00,000 20 per centAbove Rs. 10,00,000 30 per centCase C: For resident individual of 60 years or above (Senior Citizens)Upto Rs. 3,00,000 NilRs. 3,00,001 to Rs. 5,00,000 5 per centRs. 5,00,001 to Rs. 10,00,000 20 per centAbove Rs. 10,00,000 30 per centCase D: For resident individual of 80 years or above (Very Senior Citizens)Upto Rs. 5,00,000 NilRs. 5,00,001 to Rs. 10,00,000 20 per centAbove Rs. 10,00,000 30 per centHRA Tax Exemption Calculation:Minimum of (40 or 50% of Basic, Annual HRA Claimed, Annual Rent Paid – 10% of Basic)Maximum allowed limits for tax exemption:Section 80C limited to 1.5 Lacs.Section 80D limited to 75K.Section 80E limited to 40k.Section 24 limited to 2 Lacs. Limitations of the App: 1. As all the values are considered as integers, the maximum value can be entered is (2^31 - 1).2. While doing calculations, each value is rounded to the nearest integer.Suggestions:If any rules are violated or for any suggestions, please send an email to arbandroidapps@gmail.com
... moreless ...