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Taxable Income & Tax Calculator AY 2021-22

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

Use this Income Tax calculator calculator for calculation of the following for AY 2021-22 for Non-individuals (Firms, Co-operatives, LAs and Companies) under New and Existing Tax Regimes (Rates) :

Income Tax Calculator for Non-Individuals : AY 2021-22
Select Status
A.   Income from Salary / Pension
1Total Salary/Pension as per Form 16 (Excl. all allow., perquisites & profit in lieu of salary)
2Less: Standard deduction, if not included in 1 above. (Max. ₹ 40,000)
3Allowances Exempt under Section 10 (Not to be added to total taxable Income from Salary)
4Add: Allowances not exempt
5Add: Value of Perquisites and / or Fringe Benefits
6Add: Profits in lieu of Salary
7Total Taxable Income from Salary
B.   Income (Profits) from Business / Profession
1Calculate 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
2Presumptive Income from Business / Profession
3Enter Income from Business / Profession other than Presumptive Income
4Total Income from Business / Profession
C.   Income / Loss from House Property
1Whether Property is Rented of Self Occupied
2Annual Lettable Value or Rent Received or Receivable (Zero, if Self occupied)
3Amount of Rent, which cannot be realized (Zero, if Self occupied)
4Taxes paid to Local Authorities (Zero, if Self occupied)
5Annual Value of Property ( 2 - 3 - 4 )
630% of 5
7Interest payable on borrowed capital (Max. ₹ 2 lacs)
8Income / 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
1ParticularsRate %Amount
2Income taxable at10
3Income taxable at15
4Income taxable at20
5Income taxable at30
6Income taxable at
7Total Income taxable at Special Rate
I.   Rebate under Section 88E
J.   Tax already paid
1Tax Deducted at Source
2Tax Collected at Source
3Advance Tax paid
4Self Assessment Tax paid
5Total 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 croreFirm and Local AuthorityNIL
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 croreFirm and Local Authority12% 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 croresFirm nd Local Authority12% 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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