How do I access the tax calculator to see my projected income tax liability?
- Log into your Employee Portal and go to Tax Declarations >> Investment submissions tab
- At the top of the table, you will see a calculator icon, which will be the tax calculator to view your projected tax liability, based on the inputs entered by you
- We will preload the tax calculator with your fixed and variable allowances as per your latest salary structure in the system. If your CTC is not updated then you can enter the amounts manually. You can modify the amounts to see your tax liability.
- In the calculator, the “Exemptions & Deductions” will be preloaded if you had submitted Investment declarations through “+ New Declarations” for the current financial year. You can even make a modification of the Investment amount based on your tax saving plan.
- As per the new tax rules effective April 2020, under “Tax Calculation as per both Regime” you will get to see comparison of income tax amount based on both, OLD and NEW tax regime.
- Once you decide which tax regime is best suitable for you, you can submit your investment declarations online in the Quikchex portal, if these are not submitted earlier.
- For more details on saving tax, please refer to our blog article by clicking here
- We have also prepared an excel calculator to compare the impact on income tax for various salary brackets, under both the new and old tax structures. You can download it from our Resources Section by clicking here.