How to use Income Tax calculator? 

A tax calculator is a tool designed to help you calculate your overall tax liability. The calculator will estimate the payable tax based on your annual income, applicable income tax slab, deductions applicable under Section 80C and 80DD.  The calculator also provides you with investment options that can strengthen your financial portfolio and also enhance your tax-saving ability.  All the income earned by you during a financial year will be entered under the Salary head. It is crucial to know your income slab to allocate the correct tax component to your income. If you don't equip yourself with these details, you will either end up overpaying or underpaying your taxes. To avoid paying taxes more than you owe, it is essential to know not only your income slab but also investment details to make an accurate declaration.