Income Tax API
Income tax is a direct tax on income earned by individuals and companies in India. Use these APIs to calculate capital gains tax and extract data from tax documents. Generate profit & loss reports for tax compliance. Capital gains are taxed by holding period, asset class, and regime under the Income Tax Act, 1961. Tax rates differ for short-term and long-term gains depending on asset category.Features
Calculator APIs
Calculate profit & loss and capital gains for domestic securities (equity, mutual funds, derivatives), foreign investments, and crypto.
Report APIs
Get profit & loss reports for securities and crypto tax compliance.
OCR APIs
Extract tax documents like Form 16 automatically. Classify and parse data for verification.
What you can do
IT Recipes
Step-by-step guides for common income tax workflows.
Authentication
How to authenticate your API requests.
Error handling
API error codes and troubleshooting.
Rate limits
API rate limits and best practices.
Common use cases
Use the Income Tax API to:- Calculate capital gains tax for stock trading and portfolio platforms
- Generate P&L reports for investment advisory services
- Automate Form 16 extraction for HR and payroll systems
- Process cryptocurrency tax filings
- Estimate tax impact during transactions
- Build compliance tools for wealth management
Frequently asked questions
What is capital gains tax?
What is capital gains tax?
Capital gains tax applies to profits from selling investments. Tax rates depend on holding period (short-term vs long-term) and asset type under the Income Tax Act, 1961.
Which asset classes do the Calculator APIs support?
Which asset classes do the Calculator APIs support?
The Calculator APIs handle domestic securities (equity, mutual funds, derivatives), foreign securities, and cryptocurrency. Holding periods are classified automatically.
What is Form 16?
What is Form 16?
Form 16 is a TDS (Tax Deducted at Source) certificate from employers showing salary and deductions. The OCR API extracts this data from PDFs.
How are short-term and long-term capital gains determined?
How are short-term and long-term capital gains determined?
Holding period determines the classification. Equity and equity mutual funds held over 12 months are long-term. Debt funds and cryptocurrency require 36 months. Tax rates vary by asset class under Income Tax regulations.
Can I generate tax reports for multiple financial years?
Can I generate tax reports for multiple financial years?
Yes, the Report APIs generate profit & loss reports for any date range, covering multiple financial years or specific tax periods.