Compute Indian income tax
compute_taxCompute Indian income tax deterministically using new or old regime slabs, standard deduction, capital gains rates, surcharge, and cess. Follows versioned rule packs for accuracy.
Instructions
Deterministic Indian income tax computation for a fiscal year. Handles new/old regime slabs, standard deduction, 87A rebate with marginal relief, 111A/112A capital gains rates, surcharge (with the 15% cap on gains), and 4% cess. All arithmetic is done in code from a versioned rule pack -- never estimated.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| fy | No | Fiscal year, e.g. '2025-26' (AY 2026-27) | 2025-26 |
| regime | Yes | Tax regime. 'new' (115BAC) is the default regime since FY 2023-24. | |
| ageBand | No | Age band: below60, senior (60-79), superSenior (80+). Affects old-regime exemption only. | below60 |
| ltcg112A | No | Long-term capital gains under section 112A in INR, BEFORE the 1.25L exemption | |
| stcg111A | No | Short-term capital gains under section 111A (listed equity, STT paid) in INR | |
| deductions | No | Old regime only: total Chapter VI-A deductions (80C, 80D, ...) in INR. Ignored under the new regime. | |
| otherIncome | No | Other normal-rate income in INR (interest, net rent, etc.) | |
| salaryIncome | No | Gross salary income in INR, before standard deduction |