India Income Tax 2015

This app can be used to compute income tax for individuals residing in India for AY 2015-16 or PY 2014-15. The app has 2 buttons : Quick Tax and Detail Tax. At present in the free version only Quick Tax functionality is available.

The Quick Tax app include the following functionalities :

1. Calculation of Income Tax according to budget proposal of 2014 for FY 2015.
2. Provision for calculation of all age groups : Less 60 years of age, Senior Citizen ( =>60 but <80), Super Senior Citizen (=>80).
3. Factoring House Rent calculation formula
4. Inclusion of Short Term Capital Gain taxes
5. Inclusion of most of the exemption categories

In the Quick Tax you need to enter your Sex, Age and City to decide your tax bracket and house rent deduction.
You need to enter you income such as 1. Basic Salary 2. House Rent Allowance 3. All other income from Salary 4. Short Term Capital Gain. You also need to enter deductions like 1. Professional Tax 2. Houserent Paid 3. Deduction under 80C 4. Interest on House Loan 5. Interest on Education Loan 6. Donation 7. Mediclaim 8. Other Exemption.

After you enter all the correct values, you need to click "Calculate" and the app will calculate your tax. In case you want to remove all the values, you may choose to click "Reset". In case, you want to go back to the first screen, then you may choose to click the "Back" button.

Exclusion List :

1. The app is applicable only for India.
2. The app may not be used for exempted income like Food Coupon etc. However, the other income can be adjusted and entered accordingly.

Disclaimer :

The tax calculation is for information purpose only. Every effort has been taken to make this app defect free. However, Developer is not responsible for any monetary loss due to any miscalculation in this app.