How To Calculate Your Income Tax 2020 | Step by Step Guide

For the purpose of calculating your income tax, you need to enter the details of your income from various sources namely, salaries, income from house property, business or profession, capital gains and other income. From the gross total income, you can claim deductions for tax savings and other deductions. The resulting total income forms the base for calculating income tax. You need to add education cess and surcharge (if applicable). You can claim tax credits for TDS, TCS, advance tax and other tax credits to arrive at the final tax due or refund.

#howtocalculateincometax #incometaxcalculation #cleartaxcalculator