Income Tax per Old Regime

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.

📘

Know More

Old vs New Tax Regime


Endpoint

HTTP Method

Endpoint

Description

POST

/calculators/income-tax/old

A Request Body (JSON) is uploaded for calculating the Income Tax Liability as per old Regime.

API EndpointAPI Endpoint

Request Body

Field

Description

Example

Type

financial_year

FInancial year for which Income Tax has to be calculated.

FY 2020-21

string

pan

PAN number of the taxpayer.

XXXPX0000X

string

filing_category

Category of the type of filing

General

string

residential_status

Resident, Not Ordinarily Resident or Non-resident.

Resident

string

basic_salary

Basic Salary of Taxpayer.

720000

num

hra_received

Home Rent Allowance

120000

num

rent_paid

Actual Rent Paid

240000

num

address

Address of the Taxpayer

"city": "Mumbai"

num

other_allowances

Othe Taxable Allowances given to Taxpayer/

50000

num

interest_paid_on_let_out_hp_loan

Interest on Borrowed Capital on Home Loan. (Rented out)

20000

num

rent_received

Rent recieved from *home rental.

350000

num

property_tax_paid

Municipal Tax paid on home ownership.

12000

num

interest_paid_on_self_occupied_hp_loan

Interest on Borrowed Capital on Home Loan. (Self occupied)

0

num

savings_interest

Savings Account Interest

11000

num

fd_interest

Fixed deposit Interest

50000

num

dividend_income

Divdende Income.

12000

num

other_income

Other Income

100000

num

stcg_15

Short Term Capital Gains 15%

0

num

stcg_30

Short Term Capital Gains 30%

0

num

stcg_slab

Short Term Capital Gains slab

0

num

ltcg_10

Long Term Capital Gains 10%

0

num

ltcg_20

Long Term Capital Gains 20%

0

num

regular_business_turnover

Business Turnover

0

num

regular_business_profit

Business Profits

0

num

speculative_business_turnover

Speculative Business Turnover

0

num

speculative_business_profit

Speculative Busines Profit

0

num

elss

Section 80C - ELSS investments

50000

num

nps

Section 80C - NPS investments

50000

num

ppf

Section 80C - PPF investments

50000

num

epf

Section 80C - EPF investments

0

num

lic_premium

Section 80C - LIC Premium investments

50000

num

other_investment

Section 80C - Other investment

0

num

deduction_80_ccd_1_b

Employee's contribution made u/s 80CCD(1B)

30000

num

deduction_80_ccd_2

Employer's contribution made u/s 80CCD(2)

0

num

deduction_80_d_self

Medical - For Self and Family

25000

num

deduction_80_d_parents

Medical - For Parents

0

num

deduction_80_d_parents_senior

Medical - For Parents (Sr. Citizen)

0

num

deduction_80_g

Donation to Charity u/s 80G

0

num

deduction_80_e

Interest On Saving Deposits u/s 80TTA

0

num

deduction_80_eeb

Interest on Electric Vehicle Loan u/s 80EEB

0

num

deduction_80_gg

Interest On Education Loan u/s 80E

0

num


Response

Field

Description

Example

Type

gross_total_income

Gross Total Income

937160

num

cyla

Current Year's Loss Adjustment

0

num

cfl

Carry Forward Loss

0

num

total_deductions_under_chapter_vi_a

Total Deductions under Ch. 6

215000

num

gross_taxable_income

Gross Taxable Income

722160

num

tax_on_total_income

Tax on Total Income

56932

num

rebate

Rebate

0

num

surcharge

Surcharge

0

num

health_and_education_cess

Health and Education Cess

2278

num

total_tax_payable

Total Tax payable

59210

num

effective_tax_rate

Effective Tax Rate

9

num


Did this page help you?