ITI2018: Income Tax-India (FY 2017-2018)

In iamsulthan/IndianTaxCalc: Indian Income Tax Calculator

Description

Calculate Taxable Income and Income Tax liability for Assessment Year 2018-19 (for income earned during Financial Year 01.04.2017 to 31.03.2018) for Individual resident aged below 60 years,Senior Citizen,Super Senior Citizen, Firm, Local Authority, Any Non Resident Individual / Hindu Undivided Family / Association of Persons /Body of Individuals / Artificial Judicial Person, Co-operative Society.

Usage

ITI2018(income, category)

Arguments

income	numeric value > 0, Annual income for the Financial Year (FY) 2017-2018.
category	numeric values between(1-6), Respective category as per their source of Income.

Details

Calculate Taxable Income and Income Tax liability for Assessment Year 2017-18 (for income earned during Financial Year 01.04.2017 to 31.03.2018) for Individual resident aged below 60 years,Senior Citizen,Super Senior Citizen, Firm, Local Authority, Any Non Resident Individual / Hindu Undivided Family / Association of Persons /Body of Individuals / Artificial Judicial Person, Co-operative Society.

Value

Categories details:

1	Individual resident aged below 60 years (Male and Female)
2	Senior Citizen
3	Super Senior Citizen
4	Any NRI or HUF or AOP or BOI or AJP
5	Co-operative Society
6	Firm,Local Authority

A list containing the following components:

IT	Income tax
TI	Taxable income
EC	Education Cess
SC	Surcharge
MR	Marginal Relief (if applicable)
NSC	Net Surcharge

Note

Will be updated with every years Tax policies

Author(s)

Sulthan

References

www.incometaxindiaefiling.gov.in

Examples

##Income Tax calculation for individual
ITI2018(330000)

##Income Tax calculation for Senior Citizen
ITI2018(580000,2)

##Income Tax calculation for group of individuals
employees<-c(250000,350000,200000,7500000)
ITI2018(employees,1)

##Income Tax calculation for dataframe with mixed category of data
sdata <- data.frame(income = c(300000, 600000, 5000000,15000000),
                  category = c(1, 2, 3, 4))
ITI2018(sdata$income,sdata$category)

iamsulthan/IndianTaxCalc documentation built on May 18, 2019, 1:27 a.m.