Calculating your Income Tax may seem like a daunting task! But, if you have some necessary info and an Income Tax calculator (you’ll find many online), it’s actually quite easy. Let us help you. Income tax is a reality! And whether you like it or not, you’re going to be giving away a part of your money as tax every year. But there are ways to cut down on the amount of money you give away as tax every year. For instance, you could invest in any tax-saving product such as a tax-saver Fixed Deposit! Anyway, before we discuss the different ways to cut down on your yearly tax outgo, let’s find out how your income tax is calculated. The tax that you pay on a yearly basis depends on your gross total income. The total tax amount is calculated according to income tax slabs, which our government announces in the yearly Union Budget. However, there were no changes made to the tax slabs in this year’s Union Budget. Anyway, here’s a quick look at the IT slabs (FY 2018-19; AY 2019-20): Inc
