Income Tax per Old Regime

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About

  • The API calculates Income Tax Liability as per Old Regime.
  • The API requires information as a JSON Request Body and calculates gross_taxable_income, tax_on_total_income and other information (check the response below).

Definitions

  • Income Tax Liability is calculated as per New Regime or Old Regime.

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Old vs New Tax Regime


Endpoint

HTTP MethodEndpointDescription
POST/calculators/income-tax/oldA Request Body (JSON) is uploaded for calculating the Income Tax Liability as per old Regime.

API EndpointAPI Endpoint

Request Body

FieldDescriptionExampleType
financial_yearFInancial year for which Income Tax has to be calculated.FY 2020-21string
panPAN number of the taxpayer.XXXPX0000Xstring
filing_categoryCategory of the type of filingGeneralstring
residential_statusResident, Not Ordinarily Resident or Non-resident.Residentstring
basic_salaryBasic Salary of Taxpayer.720000num
hra_receivedHome Rent Allowance120000num
rent_paidActual Rent Paid240000num
addressAddress of the Taxpayer"city": "Mumbai"num
other_allowancesOthe Taxable Allowances given to Taxpayer/50000num
interest_paid_on_let_out_hp_loanInterest on Borrowed Capital on Home Loan. (Rented out)20000num
rent_receivedRent recieved from *home rental.350000num
property_tax_paidMunicipal Tax paid on home ownership.12000num
interest_paid_on_self_occupied_hp_loanInterest on Borrowed Capital on Home Loan. (Self occupied)0num
savings_interestSavings Account Interest11000num
fd_interestFixed deposit Interest50000num
dividend_incomeDivdende Income.12000num
other_incomeOther Income100000num
stcg_15Short Term Capital Gains 15%0num
stcg_30Short Term Capital Gains 30%0num
stcg_slabShort Term Capital Gains slab0num
ltcg_10Long Term Capital Gains 10%0num
ltcg_20Long Term Capital Gains 20%0num
regular_business_turnoverBusiness Turnover0num
regular_business_profitBusiness Profits0num
speculative_business_turnoverSpeculative Business Turnover0num
speculative_business_profitSpeculative Busines Profit0num
elssSection 80C - ELSS investments50000num
npsSection 80C - NPS investments50000num
ppfSection 80C - PPF investments50000num
epfSection 80C - EPF investments0num
lic_premiumSection 80C - LIC Premium investments 50000num
other_investmentSection 80C - Other investment0num
deduction_80_ccd_1_bEmployee's contribution made u/s 80CCD(1B)30000num
deduction_80_ccd_2Employer's contribution made u/s 80CCD(2)0num
deduction_80_d_selfMedical - For Self and Family25000num
deduction_80_d_parentsMedical - For Parents0num
deduction_80_d_parents_seniorMedical - For Parents (Sr. Citizen)0num
deduction_80_gDonation to Charity u/s 80G0num
deduction_80_eInterest On Saving Deposits u/s 80TTA0num
deduction_80_eebInterest on Electric Vehicle Loan u/s 80EEB0num
deduction_80_ggInterest On Education Loan u/s 80E0num

Response

FieldDescriptionExampleType
gross_total_incomeGross Total Income937160num
cylaCurrent Year's Loss Adjustment0num
cflCarry Forward Loss 0num
total_deductions_under_chapter_vi_aTotal Deductions under Ch. 6215000num
gross_taxable_incomeGross Taxable Income722160num
tax_on_total_incomeTax on Total Income56932num
rebateRebate0num
surchargeSurcharge0num
health_and_education_cessHealth and Education Cess2278num
total_tax_payableTotal Tax payable59210num
effective_tax_rateEffective Tax Rate9num