For salaried people this tool will be useful in caculating the tax deduction on HRA.
The minimum of these three values will determine your HRA tax deduction
-- The House Rent Allowance you get
-- (Annual_Basic + Annual_DA) X City_factor (City_factor is 0.5 for Metros and 0.4 for Non-Metro cities)
-- Annual_Rent_Paid - 10% of (Annual_Basic + Annual_DA)
This tool will help you calculate capital gains tax on your investment
The difference between the sale price and the purchase price of a capital asset is known as capital gain or loss. In case of financial asset if the holding period is less than 1 year, the gain is treated as short term capital gain, otherwise it is treated as long term capital gain. In case of property the respective periods are less than 3 or more than 3 years.
In case of Short Term Capital Gain, the gain is clubbed with your annual income and you pay tax on the entire income. In case of Long Term Capital Gain, you have two options of calculating the tax: @ 10% without indexation (plus surcharge of 10%) @ 20% with indexation (plus surcharge of 10%) You have to pay the lower of the two values as calculated above. Our tool calculates the lower of two values
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