TaxGst.in Free Income Tax Calculator, Free GST Tools & Finance Guides India

TaxGst.in is a popular free income tax calculator in India, catering to developers who create payroll, finance or fintech applications. The tool provides a web-based interface that quickly calculates federal tax liability, taking into account various deductions such as HRA, home loan interest, and capital gains. Being free, developers can either embed the calculator's logic into their own applications, call its API, or direct users to the Income Tax Calculator page without any licensing concerns.

The core features of TaxGst.in's calculator include all individual tax slabs for the fiscal year 2024-25, including the new 30% top rate. It also supports standard deductions, professional tax, and various Section 80 deductions. The tool calculates HRA exemptions based on rent paid, city tier, and basic salary, as well as home loan interest deductions under Section 24(b). Additionally, it automatically includes health and education cess at 4%.

To illustrate, consider a Bangalore engineer earning ₹15,00,000 annually, receiving ₹1,80,000 HRA, paying ₹2,40,000 in rent, and having a home loan interest of ₹1,20,000. The following JavaScript code demonstrates how to call TaxGst.in's public endpoint to determine the tax liability:

```javascript

const payload = {

financialYear : "2024-25",

grossSalary : 1500000,

hraReceived : 180000,

rentPaid : 240000,

cityTier : "II",

homeLoanInterest : 120000,

deductions : {

section80C : 150000,

section80D : 25000

}

};

fetch("https://api.taxgst.in/v1/income-tax", {

method : "POST",

headers : {

"Content-Type" : "application/json"

},

body : JSON.stringify(payload)

})

.then(res => res.json())

.then(data => console.log("Tax payable: ", data.taxPayable))

.catch(err => console.error(err));

```

The API returns a JSON object containing taxPayable, taxBreakup, and effectiveRate, which can then be stored, displayed in a user interface, or used in downstream payroll processing.

For integrating the calculator into a payroll service, a Node.js microservice can be used. This service pulls employee data from a MongoDB collection, runs the tax calculation, and updates the results in the database. The provided example shows a Node.js microservice outline that connects to MongoDB, iterates through employee records, makes a POST request to the TaxGst.in API, and updates the tax information for each employee.