Compute Indian income tax
compute_taxCompute Indian income tax for a fiscal year by selecting tax regime (new/old), entering salary, other income, capital gains, and deductions to get tax liability including surcharge and cess.
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 |