Sandbox Income Tax APIs help automate tax computation, reporting (ITR generation), and document parsing (Form 16 OCR) for individuals and businesses.Income tax is a form of direct tax levied on the income generated by persons (Individuals, Companies, etc.). It is collected by the Central Government to fund public projects and initiatives. Income is classified into 5 different sources: Income from Salary, Business & Professional, Capital Gains, House Property, and Income from Other Sources.In the case of Individuals/ HUF, it is mandatory to file the ITR if their gross income in a year exceeds the basic exemption limit of INR 2.5 lakhs. Whereas for companies, firms, etc. it is compulsory to file the ITR irrespective of their income.However, the calculation of tax liability can change depending on any new guidelines issued by the government during the budget session or additional notification by the income tax department, thereby, making managing tax computation difficult and prone to error.Sandbox has built Income tax APIs for businesses to integrate into their existing workflows and automate end-to-end Income tax compliance without stressing about the constantly changing ecosystem.
Report APIs help prepare and output compliance-ready data:
ITR Preparation: Generate JSON files structured for uploading to the Income Tax portal during tax filing.
Tax P&L Reports: Produce comprehensive Profit & Loss reporting for domestic securities, foreign securities, and crypto assets, useful for audit, client reporting, and compliance workflows.
