Filing taxes is simpler when you understand how to compute your total tax liability.
Step-by-step guide:
-
Gross Total Income
Add income from all heads: Salary + House Property + Capital Gains + Other Sources + Business/Profession -
Less: Deductions under Chapter VI-A
Use sections like 80C (PPF, ELSS), 80D (Health Insurance), 80TTA (Savings Interest) -
Net Taxable Income
GTI - Deductions = Taxable Income -
Apply Tax Slabs
Calculate tax using the applicable slab rates (Old/New regime) -
Add: Surcharge + Cess
Surcharge (if income > ₹50 lakh) + 4% Health & Education Cess
📄 Our tool automates this entire process using your ITR JSON data.