Income Tax [Old Regime]

Old Regime under Income Tax Act offers benefits of Tax Deductions but levies higher slab rates. Businesses can use Sandbox API to calculate tax payable under Old Tax Regime.

Overview

Use this API to calculate the income tax liability of a person under the Old Regime.

Problem

  • Every year government changes guidelines in determining the tax liability of a person.
  • This makes it difficult for Fintech and HRMS platforms in managing tax computations, leading to erroneous tax liability calculations.
  • Tax liability also changes depending on the chosen tax regime.

Solution

  • API to calculate Income Tax Liability as per the Old Tax Regime.
  • API gets constantly updated as per the latest tax guidelines.

Endpoint

HTTP MethodResource
POST/it-calculator/old

API Endpoint Contact Us  Free Trial

Request

Body

ParamTypeDescriptionExample
RAW_BODYjsonIncome Tax ReturnSee Payload

Sample CURL


curl --request POST \
     --url https: //api.sandbox.co.in/it-calculator/old \
     --header 'accept: application/json' \
     --header 'authorization: xxxxxxxx' \
     --header 'content-type: application/json' \
     --header 'x-api-key: xxxxxxxxxx' \
     --header 'x-api-version: 1.0'
  {
    "incomes": [
        {
            "net_salary": 500000,
            "tds": {
                "tax_amount": 20000,
                "tan": "XXXX12345X",
                "financial_year": "FY 2021-22",
                "income_head": "Salary",
                "credit_amount": 447600,
                "deductor": "Quicko",
                "id": "F7DD5B83ADF31A3EE0530100007F8A86",
                "@entity": "tds"
            },
            "gross_income": 600000,
            "deductions": [
                {
                    "qualified": 0,
                    "eligible": 0,
                    "section": "16(ii)",
                    "id": "F7DD92B86753266AE0530100007F9A70",
                    "is_chapter_vi_a": false,
                    "@entity": "deduction"
                },
                {
                    "qualified": 2400,
                    "eligible": 2400,
                    "section": "16(iii)",
                    "id": "F7DD92B86754266AE0530100007F9A70",
                    "is_chapter_vi_a": false,
                    "@entity": "deduction"
                },
                {
                    "qualified": 50000,
                    "eligible": 50000,
                    "section": "16(ia)",
                    "id": "F7DD5B83ADF21A3EE0530100007F8A86",
                    "is_chapter_vi_a": false,
                    "@entity": "deduction"
                }
            ],
            "@entity": "salary",
            "head": "Salary",
            "net_taxable_income": 447600,
            "perquisites": 0,
            "is_foreign": false,
            "is_exempt": false,
            "basic_salary": 600000,
            "employer": {
                "address": {
                    "area": "Ahmedabad",
                    "country": "India",
                    "city": "Ahmedabad",
                    "street": "A",
                    "id": "CE6AAA4BA064831C7C1842141B5724A5",
                    "state": "Gujarat",
                    "postal_code": "380001",
                    "@entity": "address"
                },
                "name": "Quicko",
                "category": "Other",
                "@entity": "employer"
            },
            "id": "CE6AAA4BA064831C7C1842141B5724A5",
            "allowances": [
                {
                    "qualified": 0,
                    "eligible": 0,
                    "is_exempt": true,
                    "section": "10(5)",
                    "id": "F7DD92B86755266AE0530100007F9A70",
                    "@entity": "allowance"
                },
                {
                    "qualified": 0,
                    "eligible": 0,
                    "is_exempt": true,
                    "section": "10(10)",
                    "id": "F7DD92B86756266AE0530100007F9A70",
                    "@entity": "allowance"
                },
                {
                    "qualified": 0,
                    "eligible": 0,
                    "is_exempt": true,
                    "section": "10(10AA)",
                    "id": "F7DD92B8675A266AE0530100007F9A70",
                    "@entity": "allowance"
                },
                {
                    "qualified": 0,
                    "eligible": 0,
                    "is_exempt": true,
                    "section": "10(10A)",
                    "id": "F7DD92B86758266AE0530100007F9A70",
                    "@entity": "allowance"
                },
                {
                    "qualified": 100000,
                    "eligible": 100000,
                    "is_exempt": true,
                    "section": "10(13A)",
                    "id": "F7DD92B86759266AE0530100007F9A70",
                    "@entity": "allowance"
                },
                {
                    "qualified": 0,
                    "eligible": 0,
                    "is_exempt": true,
                    "section": "10",
                    "id": "F7DD92B86757266AE0530100007F9A70",
                    "@entity": "allowance"
                }
            ],
            "taxable_income": 447600,
            "profit": 0
        },
        {
            "head": "Other",
            "gross_income": 5000,
            "is_foreign": false,
            "is_exempt": false,
            "sub_head": "Savings Interest",
            "id": "F7DD92B8675B266AE0530100007F9A70",
            "deductions": [],
            "taxable_income": 5000,
            "@entity": "other_income"
        },
        {
            "head": "Other",
            "gross_income": 0,
            "is_foreign": false,
            "is_exempt": false,
            "sub_head": "Fixed Deposit Interest",
            "id": "F7DD92B8675C266AE0530100007F9A70",
            "deductions": [],
            "taxable_income": 0,
            "@entity": "other_income"
        },
        {
            "head": "Other",
            "gross_income": 0,
            "is_foreign": false,
            "is_exempt": false,
            "sub_head": "Interest on Tax Refund",
            "id": "F7DD92B8675D266AE0530100007F9A70",
            "deductions": [],
            "taxable_income": 0,
            "@entity": "other_income"
        },
        {
            "head": "Other",
            "gross_income": 0,
            "is_foreign": false,
            "is_exempt": false,
            "sub_head": "Other Interest",
            "id": "F7DD92B8675E266AE0530100007F9A70",
            "deductions": [],
            "taxable_income": 0,
            "@entity": "other_income"
        }
    ],
    "regime_action": "Stay",
    "regime": "Old",
    "tax_computation": {
        "surcharge": 0,
        "interest_234_b": 0,
        "gross_normal_income": 0,
        "gross_total_income": 452600,
        "interest_234_a": 0,
        "interest_234_c": 0,
        "carry_forward_loss": 0,
        "total_chapter_vi_a_deduction": 55000,
        "total_taxable_house_property": 0,
        "tax_payable_on_special_rate_income": 0,
        "total_taxable_business_profession": 0,
        "total_taxable_capital_gains": 0,
        "total_normal_income": 397600,
        "total_special_income": 0,
        "net_tax_payable": 1000,
        "@entity": "tax_computation",
        "tax_payable_matrix": [
            [
                397600,
                250000,
                147600,
                7380
            ],
            [
                0,
                0,
                0,
                0
            ],
            [
                0,
                0,
                0,
                0
            ],
            [
                0,
                0,
                0,
                0
            ],
            [
                0,
                0,
                0,
                0
            ],
            [
                0,
                0,
                0,
                0
            ],
            [
                397600,
                250000,
                147600,
                7380
            ]
        ],
        "tax_payable_on_normal_rate_income": 7380,
        "fees_234_f": 1000,
        "total_exempt_income": 0,
        "total_tax_collected_at_source": 0,
        "total_tax_deducted_at_source": 20000,
        "relief": 0,
        "total_advance_tax": 0,
        "total_taxable_salary": 447600,
        "total_taxable_other": 5000,
        "current_year_loss_adjusted": 0,
        "rebate": 7380,
        "brought_forward_loss_adjusted": 0,
        "tax_payable_on_total_income": 7380,
        "gross_special_income": 0,
        "aggregate_income": 0,
        "cess": 0,
        "total_income": 397600,
        "due": 0,
        "total_interest_and_penalty": 1000,
        "tax_after_rebate": 0,
        "total_taxes_paid": 20000,
        "gross_tax_payable": 0,
        "total_self_assessment_tax": 0,
        "refund": 19000
    },
    "assessment_year": "AY 2022-23",
    "due_date": "31/07/2022",
    "type": "Original",
    "tax_credits": [
        {
            "tax_amount": 20000,
            "tan": "XXXX12345X",
            "financial_year": "FY 2021-22",
            "income_head": "Salary",
            "credit_amount": 447600,
            "deductor": "Quicko",
            "id": "F7DD5B83ADF31A3EE0530100007F8A86",
            "@entity": "tds"
        }
    ],
    "@entity": "itr_1",
    "form": "ITR-1",
    "tax_payer": {
        "address": {
            "area": "A",
            "country": "India",
            "city": "A",
            "street": "A",
            "id": "5C7472876D08DCDD5C31C54D61787704",
            "state": "Assam",
            "postal_code": "111111",
            "@entity": "address"
        },
        "filing_category": "General",
        "gender": "Male",
        "last_name": "March",
        "pan_holder_type": "Individual",
        "residential_status_description": "You were in India for 182 days or more during the previous year [section 6(1)(a)]",
        "@entity": "individual",
        "dob": "16/02/1983",
        "contact": {
            "country_code": "91",
            "mobile": "9999999999",
            "id": "5C7472876D08DCDD5C31C54D61787704",
            "email": "[email protected]",
            "@entity": "contact"
        },
        "residential_status": "Resident",
        "aadhaar": "820222341245",
        "id": "5C7472876D08DCDD5C31C54D61787704",
        "tax_payer_status": "Active",
        "pan": "EDJPS0011N",
        "first_name": "Test",
        "fathers_name": "K"
    },
    "filed_under_section": "After the due date u/s 139(4)",
    "id": "95763B2DE5985E2ADE80492AD6AC085D",
    "bank_accounts": [
        {
            "account_number": "00011000111134",
            "country": "India",
            "is_refund_account": true,
            "bank_name": "HDFC BANK",
            "id": "67558B8AEED8181B9335CDCB6B5B6718",
            "type": "Savings",
            "ifsc": "HDFC0000001",
            "is_foreign_account": false,
            "@entity": "bank_account"
        }
    ],
    "chapter_vi_a_deductions": [
        {
            "qualified": 0,
            "eligible": 0,
            "section": "80CCD(1)",
            "id": "76464AB781AB051D99A92C8E39CC72B3",
            "is_chapter_vi_a": true,
            "@entity": "deduction"
        },
        {
            "qualified": 0,
            "eligible": 0,
            "section": "80CCC",
            "id": "B5E66B47C4BDE27177ED465B6DB92778",
            "is_chapter_vi_a": true,
            "@entity": "deduction"
        },
        {
            "qualified": 50000,
            "eligible": 0,
            "section": "16(ia)",
            "id": "F7DD5B83ADF21A3EE0530100007F8A86",
            "is_chapter_vi_a": false,
            "@entity": "deduction"
        },
        {
            "qualified": 2400,
            "eligible": 0,
            "section": "16(iii)",
            "id": "F7DD92B86754266AE0530100007F9A70",
            "is_chapter_vi_a": false,
            "@entity": "deduction"
        },
        {
            "qualified": 50000,
            "eligible": 50000,
            "section": "80C",
            "id": "36B2B991296CE36A525B35201D1C3BB4",
            "is_chapter_vi_a": true,
            "@entity": "deduction"
        },
        {
            "qualified": 0,
            "eligible": 0,
            "section": "16(ii)",
            "id": "F7DD92B86753266AE0530100007F9A70",
            "is_chapter_vi_a": false,
            "@entity": "deduction"
        },
        {
            "qualified": 5000,
            "eligible": 5000,
            "section": "80TTA",
            "is_chapter_vi_a": true,
            "@entity": "deduction"
        }
    ],
    "status": "In Progress",
    "is_audit_liable": false
}

Response

ParamTypeDescriptionExample
ITRjsonIncome Tax ReturnSee Response