Income Tax Calculator APIs

What are Income Tax Calculators

Income tax calculators allow one to calculate their estimated tax liability by providing the necessary details. Every year, the government introduces a new budget that changes the guidelines to calculate tax liability. Hence, managing tax computations can become erroneous if one uses incorrect or outdated tax compliance requirements, especially with the introduction of the New Tax Regime.

Difference between Old Regime and New Regime

In the Budget 2020 introduced on 1st February, Finance Minister Nirmala Sitharaman introduced a New Tax Regime wherein the tax slab rates have been reduced, and the exemptions and deductions have been removed when compared to the Old Tax Regime. However, few exemptions are covered under the new regime (Leave encashment on retirement, Standard deduction on rental income, etc.). The purpose of the new tax regime is to help reduce the individual and HUF's dependency on tax consultants for filing their Income Tax Returns.

Sandbox continuously updates its APIs to reflect the latest compliance guidelines. Hence, integrate our Income Tax Calculator APIs to enable correct computations of Income-tax.

Available Income Tax Calculator APIs

1. Income Tax Calculator helps calculate tax liability per the Old or New Regime.
2. Advance Tax Calculator helps calculate advance tax liability per the Old or New Regime.
3. Tax P&L from Securities calculates tax liability from Tradebook, Tradewise & Scripwise P&L.
4. Tax P&L from Crypto calculates crypto tax liability from Tradebook P&L.