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Taxable Income and Tax Calculator for AY 2021-22

For Non-individuals (Firm, Co-op., LA, and Companies)

About this Calculator

This Income Tax calculator calculator for Non-individuals (Firms, Co-operatives, LAs and Companies) calculates

Taxable Income at Special Rates and Normal Rates taking into account Income from Salary and Wages, House Property, Capital Gains, Presumptive Business & Other Sources and deductions available under various sections of Chapter VIA.
Income Tax at Special and Normal Rates, Health & Education Cess, Surcharge and Marginal Relief, Total Tax Liability and Income Net of Tax.

Income Tax Calculator for Non-Individuals : AY 2021-22
Select Status
A. Income from Salary / Pension
1	Total Salary/Pension as per Form 16 (Excl. all allow., perquisites & profit in lieu of salary)
2	Less: Standard deduction, if not included in 1 above. (Max. ₹ 40,000)
3	Allowances Exempt under Section 10 (Not to be added to total taxable Income from Salary)
4	Add: Allowances not exempt
5	Add: Value of Perquisites and / or Fringe Benefits
6	Add: Profits in lieu of Salary
7	Total Taxable Income from Salary
B. Income (Profits) from Business / Profession
1	Calculate Presumptive Income u/s
	1. Turnover or Receipts in cash
	2. Turnover or Receipts other than in cash (by account payee cheque / bank draft or electronic clearing system through bank account)
	3. Gross Turnover or Gross Receipts (Not Eligible u/s 44AD if more than ₹ 1 core)
	4. Minimum Presumptive Income u/s 44AD (8% of 1 + 6% of 2)
	1. Gross Turnover or Gross Receipts (Not Eligible u/s 44ADA if more than ₹ 50 lacs)
	2. Minimum Presumptive Income u/s 44ADA (50% of 1)
	Enter Presumptive Income u/s 44AE Use Calculator
2	Presumptive Income from Business / Profession
3	Enter Income from Business / Profession other than Presumptive Income
4	Total Income from Business / Profession
C. Income / Loss from House Property
1	Whether Property is Rented of Self Occupied
2	Annual Lettable Value or Rent Received or Receivable (Zero, if Self occupied)
3	Amount of Rent, which cannot be realized (Zero, if Self occupied)
4	Taxes paid to Local Authorities (Zero, if Self occupied)
5	Annual Value of Property ( 2 - 3 - 4 )
6	30% of 5
7	Interest payable on borrowed capital (Max. ₹ 2 lacs)
8	Income / Loss (-ve) from House Property ( 5 - 7 )
D. Income from Capital Gains (Taxable at Normal Rates)
E. Income from Other Sources (Taxable at Normal Rates)
F. Total Income Taxable at Normal Rates
G. Less: Deductions under Chapter VI A
H. Less: Any other eligible deductions
I. Total Taxable Income at Normal Rates
H. Income Taxable at Special Rates
1	Particulars	Rate %	Amount
2	Income taxable at	10
3	Income taxable at	15
4	Income taxable at	20
5	Income taxable at	30
6	Income taxable at
7	Total Income taxable at Special Rate
I. Rebate under Section 88E
J. Tax already paid
1	Tax Deducted at Source
2	Tax Collected at Source
3	Advance Tax paid
4	Self Assessment Tax paid
5	Total Tax paid

Income and Income Tax Liability
Total Income (Normal Rate + Special Rate)
Income Tax at Normal Rates
Income Tax at Special Rates
Total Income Tax [Income Tax (Normal Rate + Spl. Rate) - Ded. under section 88E]
Surcharge at applicable rates
Less: Marginal Relief, if applicable
Net Surcharge
Income Tax + Surcharge
Health & Education Cess (4% of Income tax + Surcharge)
Total Tax liability
Tax Payable / Refund(-)
Income Net of Income Tax Liability
Calculate Interest payable under Section 234A, 234B and 234C
Important : This calculator is an easy online tool for quick basic calculation and cannot give correct calculation in all circumstances. The exact calculation may be made after taking into account all applicable provisions of Income Tax Act / Rules.

Surcharge Rates

Taxable Income	Tax Payee	Surcharge
Upto ₹ 1 crore	Firm and Local Authority	NIL
	Co-operative (Claiming Exemptions)	NIL
	Co-operative (Income taxable u/s 115BAD)	10% of income tax
	Domestic Company (Claiming Exemptions)	NIL
	Domestic Manufacturing Company (Income taxable u/s 115BAA or 115BAB)	10% of income tax
	Other Company (Foreign Company)	NIL
Exceeds ₹ 1 crore	Firm and Local Authority	12% of Income Tax
	Co-operative (Claiming Exemptions)	12% of Income Tax
	Co-operative (Income taxable u/s 115BAD)	10% of income tax
	Domestic Company (Claiming Exemptions)	7% of Income Tax
	Domestic Manufacturing Company (Income taxable u/s 115BAA or 115BAB)	10% of income tax
	Other Company (Foreign Company)	2% of Income Tax
Exceeds ₹ 10 crores	Firm nd Local Authority	12% of Income Tax
	Co-operative (Claiming Exemptions)	12% of Income Tax
	Co-operative (Income taxable u/s 115BAD)	10% of income tax
	Domestic Company (Claiming Exemptions)	12% of Income Tax
	Domestic Manufacturing Company (Income taxable u/s 115BAA or 115BAB)	10% of income tax
	Other Company (Foreign Company)	5% of Income Tax

Marginal Relief in Surcharge

When an assessee's taxable income exceeds ₹ 1 crore / 10 crores, he is liable to pay Surcharge at prescribed rates mentioned above on Income Tax payable by him. However, the amount of Income Tax and Surcharge shall not increase the amount of income tax payable on a taxable income of ₹ 1 crore / 10 crores by more than the amount of increase in taxable income respectively.

Example

In case of a firm having taxable income of ₹ 1,00,01,000/-

1.	Income Tax	₹ 30,00,300
2.	Surcharge @12% of Income Tax	₹ 3,60,036
3.	Income Tax on income of ₹ 1 crore	₹ 30,00,000
4.	Maximum Surcharge payable (Income over ₹ 1 crore less income tax on income over ₹ 1 crore)	₹ 700/- [1000 - 300 (income tax on income over ₹ 1 crore)]
5.	Income Tax + Surcharge payable	₹ 30,01,000
6.	Marginal Relief in Surcharge	₹ 3,59,936 (3,60,036 - 700)

Updated : Sept 29, 2020

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