The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.
The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts.
The above calculator provides for interest calculation as per Income-tax Act. However, for AY 2021-22, the
Circular No. 12/2021, dated 25-06-2021 provides as under:
(2) A resident senior citizen who does not have any income from business or profession is not required to pay advance tax and he can pay the entire tax by way of self-assessment tax. For computing the limit of Rs. 1 lakh (as specified above), the self-assessment tax paid by a senior citizen on or before 31-07-2021 shall be deemed to be the advance tax. Thus, same shall be reduced while computing the tax liability of Rs. 1 lakh.
Thus, users are requested to please calculate the interest accordingly in view of aforesaid circular and notification issued by the Income-tax Department.
Advisory: Information relates to the law prevailing in the year
of publication/ as indicated . Viewers are advised to ascertain the correct position/prevailing law before relying upon any document.Disclaimer:The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc.