UNIVERSAL INCOME TAX CALCULATOR FOR AY 2021-22

 UNIVERSAL INCOME TAX CALCULATOR

1.  Team SIGNALS PARIVAAR has prepared this Calculator for your income tax calculations for the current assessment year. It is based on the valid SLABS derived from the Taxable Income and thereafter calculating  the Income TAX for each slab @ the authorised rate of IT to arrive at the final results at the bottom of the Calculator.

2.  The Universal Calculator has been embedded here on this web page for ease of usage by our readers. It is not just a chart but an active web calculator designed so that it can be used by a lay man without any difficulty after simply entering the Taxable income and the entitled deductions. The best part is that one can see all the calculations against the slabs so as to be sure.   (CONTD)

3.The calculator very much caters for various options of the individual whether a Senior Citizen or not or a Very Senior Citizen depending upon the selection of the option in the Cell shown in RED by selecting the option at the Dropdown Menu using the mouse. 

4. In addition it similarly switches between the NEW Regime or the OLD Regime based on your selection of the relevant cell shown in RED by clicking on the Dropdown Menu.  It thus entails calculations for the six options as required.

5.  The Total Income before any deductions which must include salary/pension and Income from Other Sources needs to be inserted first followed by the  total allowable deductions in the relevant cells. Click on the relevant cell and type the above figures, the default figures as seen in them will automatically be replaced by your figures. 

UNIVERSAL INCOME TAX CALCULATOR - DATA INSERSION

6.  Please insert the data on Income and deductions  in the relevant RED cells on top left and select the options of OLD or NEW REGIME and that of Sr CTZ SELECTION YES, NO or VSC from drop down menus which show up at bottom right corners of the particular cell when the mouse is clicked on them. Click on your selection in the dropdown menu it will show up in the cell without any need of  typing.. As you hit   Enter you  get the results at the bottom, where it will show you the calculations of the income tax slab wise in respect of the option selected and in addition the Cess Surcharge and rebate if any. 

7.  For ease of comparison the calculator also calculates and displays the IT for NEW Regime irrespective of the calculations for OLD regime just to lend you an idea for comparison. The team in any case has also provided their recommendation for choosing between New or Old Regime for the options selected at the bottom right "Take ....... Regime" . You can them take your final decision on Regimes.

Note :- The above on line calculator caters for every option and has gone through mighty tests for various options and categories to include , regimes, cat of the payee, amount of Gross Income  and the authorised deductions. It shows instant results of over all tax including the Surcharge where applicable and the cess. 

   This PROGRAMME will be further upgraded next year based on the budget to be presented in Feb 2022.

8.  By any chance if a mistake is made by you while inserting it may not be possible to correct the same, here you should refresh the web page and restart insertion of the data after refreshing the URL in the address of the browser.

9.  We will request our readers to provide us the feed back so that we can further improve the Universal Calculator.  Best wishes

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