How To Calculate Income Tax – Latest Status for the Year 2018-19

By | July 13, 2017

Calculate Income Tax

Welcome to the page where you check the latest status of the Income Tax Calculation. If you are one of the people who want to get knowledge about Knowing Taxation amount as per the Income then check here complete notification about the tax calculation form the deposited money

For any tax paying person, to have a working knowledge of how income tax is considered can only make life simpler. It not only helps you measure the tax amount you have to pay in a financial year but also gives you a right idea.

Income Tax is tax charged on the income of a human being by the Government. Manage your Income Tax for year strength seems like a multifaceted process but you will see that it is easy. All persons check the complete income tax process through the table which is mention below.

Taxation amount as per the Income Tax

The first and far most point is that to appreciate the workings of Income Tax in India is to be conscious of the taxation lump released each financial year by the Indian Government.

Check the table carefully to calculate Income Tax

Serial Income Rupees Income Tax Rate
1 0 to 2,50,000 NIL
2 2,50,001-5,00,000 10%
3 5,00,001-10,00,000 20%
4 10,00,001 and above 30%

Deductions Available for Saving Tax

To way to option to saving the  maximum amount of tax, examine the deductions defined under different sections Act, 1961.

Points

  • Savings under Section 80
  • This section includes: –
  • Mediclaim insurance premium (u/s 80D)
  • Donations with 100% benefit (u/s 80G)
  • Attention repayment for education loans (u/s 80E)
  • New Pension Scheme for a maximum of 10% of the basic salary (u/s 80CCD)
  • Rajiv Gandhi Equity Savings Scheme (u/s 80CCG).

If you have any query then frankly ask through the comment box which is mention below

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