There are certain deductions which can be claimed to save tax at the time of Income Tax Filling. If you have done proper Tax Planning to save Tax and made investments where your Tax Liability will get reduced, you can save Tax on Income. You can claim deductions for amount invested in schemes like Insurance, PPF, PF, ELSS, ULIP, NPS, Medical Insurance. Also, you can claim deductions for amounts spent on Education Loan Interest, House Rent, Interest & Principal Paid on Home Loan, Donation made etc.
Our calculator will help you to know the amount of Tax Liability and deductions allowed to different categories of Individuals like Salaried, Self Employed which includes Senior Citizens also. It allows you to make the best use of the various tax exemptions, deductions and benefits available to minimize your tax liability. With the help of this calculator you can plan the Investments under which you can reduce your Taxable Income and thus help you to save Tax on your Income.
Keywords: Income Tax Calculator, Income Tax India, Income Tax 2016-17, Income Tax Planning