Here’s How to Use the Income Tax Calculator FY 2021-22

Do you want to arrive at an estimate of your payable income tax online without waiting? You don’t have to worry!

You can use the income tax calculator FY 2021-22 and do that.

Do you want to know how? Read on!

How to use the income tax calculator FY 2021-22 online?

Using the income tax calculator online is easy if you can follow the below steps:

1. Select the financial year for which you want to calculate your income tax.
2. Select your age and click on the ‘Go to next step’.
3. Feed your gross salary (after deducting HRA, LTA and more).
4. You now have to enter details like rental income, interest income; interest paid on home loan for rented space and self-occupied property.
5. Hit the ‘Go to next step’.
6. Click on the ‘Calculate’ button to arrive at your total tax liability. Enter ‘0’ on the fields that are not applicable to you.

If you wish to calculate your income tax under old tax slabs, you need to enter your tax saving investments under section 80C, 80D, 80G, 80E and 80TTA.

An online income tax calculator is an easy-to-use tool available these days on so many third-party platforms. You can use it free and round the clock.

If you don’t have any idea about calculating your income tax estimate, there is nothing to worry about.

You can simply use the tax calculator online, enter a few details as discussed and arrive at your correct estimates.

Read Also: A beginner’s guide on the income tax calculator