A fast, comprehensive desk reference for Indian taxpayers, accountants, investors, and CFOs covering current income tax regimes, GST schedules, key statutory deductions, and fundamental investment math formulas.
Essential reference equations governing calculations in this domain.
EMI = \frac{P \times r \times (1 + r)^n}{(1 + r)^n - 1}Calculates the fixed monthly installment for home loans, car loans, and personal loans under reducing balance interest.
FV = P \times \frac{(1 + r)^n - 1}{r} \times (1 + r)Computes compounding returns for monthly mutual fund SIP contributions made at the beginning of each cycle.
CAGR = \left(\frac{EV}{BV}\right)^{\frac{1}{n}} - 1Standard annualized geometric growth rate smoothed over multi-year investment horizons.
Years \approx \frac{72}{Annual\ Interest\ Rate\ (\%)}Quick mental heuristic to estimate the years required to double money given a fixed annual interest rate.
Comparison of slab rates under the default New Tax Regime (Section 115BAC) vs. the Optional Old Tax Regime.
| Income Range (₹) | New Tax Regime Rate | Old Tax Regime Rate (General <60) | Standard Deduction Applicable |
|---|---|---|---|
| ₹0 to ₹3,00,000 | 0% (Nil) | 0% (Nil) | Both Regimes (Salaried) |
| ₹3,00,001 to ₹5,00,000 | 5% (Rebate u/s 87A) | 5% (Rebate u/s 87A) | ₹75,000 (New) / ₹50,000 (Old) |
| ₹5,00,001 to ₹7,00,000 | 5% (Full Rebate up to ₹7L) | 20% | Taxable above threshold |
| ₹7,00,001 to ₹10,00,000 | 10% | 20% | New: Marginal relief u/s 87A |
| ₹10,00,001 to ₹12,00,000 | 15% | 30% | Old: Deductions (80C, HRA) allowed |
| ₹12,00,001 to ₹15,00,000 | 20% | 30% | New: Lower base tax without exemptions |
| Above ₹15,00,000 | 30% | 30% + Surcharges | Highest slab + 4% Health & Edu Cess |
Standard Goods and Services Tax 4-tier rate schedule with sample goods and services.
| GST Slab Rate | CGST + SGST Split | IGST Rate | Representative Goods & Services |
|---|---|---|---|
| 0% (Nil) | 0% + 0% | 0% | Unbranded food grains, fresh milk, vegetables, eggs, healthcare, salt, bread |
| 5% | 2.5% + 2.5% | 5% | Packaged food items, domestic LPG, transport (Ola/Uber), edible oils, apparel < ₹1,000 |
| 12% | 6% + 6% | 12% | Business class air tickets, computers, frozen meat products, processed cheese, sewing machines |
| 18% (Standard) | 9% + 9% | 18% | Software & SaaS, telecom, banking fees, restaurants in hotels, capital goods, hair oil |
| 28% (Luxury / Sin) | 14% + 14% | 28% | Automobiles, motorcycles, air conditioners, pan masala, carbonated drinks (+ Cess) |
Common deductions available under Chapter VI-A to reduce taxable salary income.
| Section | Deduction Purpose / Instruments | Max Cap (₹) | Eligibility Criteria |
|---|---|---|---|
| Section 80C | EPF, PPF, ELSS Mutual Funds, Life Insurance, Home Loan Principal | ₹1,50,000 | Individuals & HUF only |
| Section 80CCD(1B) | National Pension System (NPS Tier 1) Additional Contribution | ₹50,000 | Exclusive additional benefit over 80C |
| Section 80D | Health Insurance Premiums (Self, Family & Dependent Parents) | ₹25,000 to ₹1,00,000 | ₹25K self + ₹25K parents (₹50K if senior citizen) |
| Section 24(b) | Home Loan Interest on Self-Occupied Residential Property | ₹2,00,000 | Owner-occupied residential property |
| Section 80TTA / 80TTB | Savings Account Interest (80TTA) / Senior Citizen Deposit Interest (80TTB) | ₹10,000 / ₹50,000 | 80TTA for non-seniors, 80TTB for age 60+ |
How compounding periodicity increases the nominal 10.00% annual interest return.
| Compounding Period | Periods per Year (m) | Formula Component | Effective Annual Rate (Nominal 10%) |
|---|---|---|---|
| Annual | 1 | (1 + 0.10/1)^1 - 1 | 10.0000% |
| Semi-Annual (Half-yearly) | 2 | (1 + 0.10/2)^2 - 1 | 10.2500% |
| Quarterly (Bank FD Standard) | 4 | (1 + 0.10/4)^4 - 1 | 10.3813% |
| Monthly (Loans & SIPs) | 12 | (1 + 0.10/12)^12 - 1 | 10.4713% |
| Daily (Money Market) | 365 | (1 + 0.10/365)^365 - 1 | 10.5156% |
| Continuous Compounding | ∞ | e^0.10 - 1 | 10.5171% |
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Calculate Indian Goods and Services Tax (GST) with standard slabs (5%, 12%, 18%, 28%), reverse GST, and CGST/SGST/IGST breakdown.
Calculate UAE End of Service Gratuity under Federal Decree-Law No. 33 of 2021 with 21-day and 30-day salary tiers and 2-year cap.
Calculate Qatar End of Service Gratuity under Labour Law No. 14 of 2004 Article 54 based on 21-day basic wage per service year.
Calculate Saudi End of Service Award under Labor Law Articles 84 and 85 comparing resignation versus contract termination payouts.
Calculate lost Personal Allowance and the 60% effective marginal tax rate between £100,000 and £125,140 with pension salary sacrifice solutions.
Compare UK contractor take-home pay between Outside IR35 Ltd company dividends and Inside IR35 umbrella PAYE under Chapter 10 ITEPA.
Clear technical and regulatory explanations regarding these parameters and formulas.