FinCalC: How To Calculate Income Tax For FY 2017-18 [VIDEO]

It is NOT the way you actually thought How Income Tax is Calculated. Read & WATCH to Know more...

Many Indians are still unaware about the Income Tax Calculation process in India. Talking about the problem will not solve it, but finding solutions to the problem will.
In this post, we will see How Income Tax is Calculated, specifically for FY 2017-18 (AY 2018-19).

Before getting started, Download our FREE Calculator Android App(FinCalC) for Financial Planning and Calculating Income Tax:

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To Calculate Income Tax :

1. Add all your Income from different Income sources
2. Add Interest earned from Savings Accounts, FD, RD, Capital Gains, etc.
3. Maximum of Rs. 10,000 will be exempted from Tax for Savings Account Interest under 80TTA.
4. Remove all the Deductions (Investments that you have made in Financial Year 2017-18 for which you can claim Deductions) from Taxable Income.
5. Maximum Tax Rebate of Rs. 2500 is applicable if your Taxable Income is less than or equal to Rs. 3,50,000 (For FY 2017-18)
6. Watch below Video, to understand the Calculation method that you never knew....

Watch How Income Tax is Calculated (English)

Watch How Income Tax is Calculated (Hindi)

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