Income Tax Calculator 2020 - New Budget Tax Rates

Income Tax Calculator calculates tax and salary deductions with detailed tax calculations based on the latest Indian Budget 2020 tax rates for FY 2020-2021(AY 2019-2020).This calculator is for the residents of India and calculates tax using the new Budget 2020 tax scheme and also the existing tax scheme . Calculator allows the user to enter gross annual income, deductions like 80c, 80d, 80ccd, 80e, 80tta and 80G.

Income Tax Calculator automatically calculates the income tax based on the New Budget 2020 Tax Slab 2020-21 and the existing tax slab 2019-20. The user can then compare and see which tax is beneficial for them and chose to opt for old tax scheme with tax deductions and exemptions or new budget 2020 tax scheme with new tax slabs, but without tax exemptions.

Income Tax Calculator also gives pointers that are important for understanding the new Indian Budget 2020 and the existing tax scheme for AY 2019-20.