I started freelancing and did something similar for the UK, wanna start a collection of tax calculators per country?
Show HN: A Tax Calculator for India
21–29 of 29 posts
Re: Show HN: A Tax Calculator for India
#22The french government provides a similar tool, from what I've understood of the indian model. It is of course open source.
Re: Show HN: A Tax Calculator for India
#23I built this command-line tax calculator as a side project. This script determines: - When you're made an offer for a given CTC, how much will you take home every month? - If you want a certain amount of take-home pay every month, what CTC should you ask for? This is for Indians. This script handles: - Differing tax treatments for employees and consultants. The latter are eligible for presumptive taxation under secti…
I am not sure if you have handled this or even if it is possible to handle the fact that the "basic" component of the salary is not a fixed percentage of the CTC. So two people with same CTC can have different "basic". This basic component also determines the max exemptions you can claim for e.g. under HRA. Also, employers themselves try to structure the basic and the HRA components to reduce the tax burden of their…
Good point. The comments at the top of the file say what's handled and what's not, and HRA is not.
About basic, yes, that's a pain.
Re: Show HN: A Tax Calculator for India
#24Earlier quoted context omitted.
I am not sure if you have handled this or even if it is possible to handle the fact that the "basic" component of the salary is not a fixed percentage of the CTC. So two people with same CTC can have different "basic". This basic component also determines the max exemptions you can claim for e.g. under HRA. Also, employers themselves try to structure the basic and the HRA components to reduce the tax burden of their…
Good point. The comments at the top of the file say what's handled and what's not, and HRA is not. About basic, yes, that's a pain.
Sorry, dont want to sound too negative, but the tax calculator is so simple it doesn't handle even the most basic stuff. I am guessing you have never paid tax at the income tax website. I would suggest you to go the income tax website and see the inputs that the calculator takes.
Re: Show HN: A Tax Calculator for India
#25Earlier quoted context omitted.
Good point. The comments at the top of the file say what's handled and what's not, and HRA is not. About basic, yes, that's a pain.
Sorry, dont want to sound too negative, but the tax calculator is so simple it doesn't handle even the most basic stuff. I am guessing you have never paid tax at the income tax website. I would suggest you to go the income tax website and see the inputs that the calculator takes.
I did look at that and many other tax calculators, and some are so complex that people don't know what to put in. It's intimidating.
I built this for my needs. If you want it to handle HRA, or LTA, or income 1 crore and above, etc, that's an entirely reasonable point of view, and I'd welcome a pull request if you have the time.
Re: Show HN: A Tax Calculator for India
#26This is nice, I was actually looking for something like this.
Re: Show HN: A Tax Calculator for India
#27I built this command-line tax calculator as a side project. This script determines: - When you're made an offer for a given CTC, how much will you take home every month? - If you want a certain amount of take-home pay every month, what CTC should you ask for? This is for Indians. This script handles: - Differing tax treatments for employees and consultants. The latter are eligible for presumptive taxation under secti…
Nice work! Do consider slapping a simple UI and hosting it somewhere online. You'll be surprised how many organic visits it'll get a year or two from now.
Bonus points if the website copy overlaps well with search keywords :)
Re: Show HN: A Tax Calculator for India
#28Earlier quoted context omitted.
Sorry, dont want to sound too negative, but the tax calculator is so simple it doesn't handle even the most basic stuff. I am guessing you have never paid tax at the income tax website. I would suggest you to go the income tax website and see the inputs that the calculator takes.
I did look at that and many other tax calculators, and some are so complex that people don't know what to put in. It's intimidating. I built this for my needs. If you want it to handle HRA, or LTA, or income 1 crore and above, etc, that's an entirely reasonable point of view, and I'd welcome a pull request if you have the time.
But am I correct in my assumption that you have never paid taxes yet? :) Any one who has ever been on a payroll will know that the basic component is dynamic. Also I don't know anyone who does not claim any exemptions!
Re: Show HN: A Tax Calculator for India
#29Earlier quoted context omitted.
I did look at that and many other tax calculators, and some are so complex that people don't know what to put in. It's intimidating. I built this for my needs. If you want it to handle HRA, or LTA, or income 1 crore and above, etc, that's an entirely reasonable point of view, and I'd welcome a pull request if you have the time.
But am I correct in my assumption that you have never paid taxes yet? :) Any one who has ever been on a payroll will know that the basic component is dynamic. Also I don't know anyone who does not claim any exemptions!
Ha ha, no I've paid a variety of taxes: income, professional, capital gains... I've been an employee and now a startup founder. I also help others with taxes.
The script does have a field for EMPLOYEE_TAX_DEDUCTION. It defaults to 1.6 lac, assuming 1.5 lac for 80C and 10K for the rest (like medical insurance under 80D or whatever). But you can change it to whatever number you want to include other exemptions like HRA and LTA.
I think some things like PF and HRA are calculated based on basic income, but I was able to approximate the calculation without bringing basic income into account. Salary for the purpose of PF is limited to 15K anyway.
Again, enhancements welcome.