Tax Calculation: If you are going to do ITR filing for the first time, then calculate tax like this, see the method..

Every person should file income tax, whether your income comes under taxable income or not. If you are also confused about income tax calculation, then the method given below can be of great help to you.

How to calculate tax?

Add all income
First of all, you have to understand how much income you are getting every year or from where the money comes.
Include these in income-
Salary
House property
Profit from business or any profession
Capital gain
Income from other sources
This way you will get GTI i.e. Gross Total Income.
Deduct all exemptions
Now you have to add GTI i.e. Gross Total Income. For this, remove all deductions from whatever income you have added. From these exemptions, wherever you are getting tax benefits, deduct that amount. Many of you might have applied for such a scheme to get tax benefits, which provides the benefit of section 80-C. In this way, sections 80G, 80D, 80TTA, etc. are included. By making all these deductions, you will be able to calculate Taxable Income.

Include Surcharges
Now you have to see where this taxable income falls in the tax slab. Along with this, you will also have to add Surcharges to it.

Deduct Prepaid Tax
Finally, you have to deduct prepaid taxes like TDS, Advance Tax, and SAT.

This way your taxable amount or refund amount will come. In this way, you will be able to calculate your income tax easily.

Now let us know what documents you need to calculate tax.

Which documents are necessary
If you have to file an ITR, then collect the documents mentioned below. Form 26AS or Form 16A will be required.
If you pay rent, then a rent agreement will be required for this so that HRA can be claimed.
You will also have to submit proof of tax deduction.
If you have income from abroad, then you will have to provide a foreign bank account statement for this.
Along with this, if you have ever filed an ITR before, then its proof will be required.
Along with this, you will have to provide a salary slip for income proof.
Today you can check tax from auto tax calculation available in the income tax website.